Enbridge Income Fund Holdings in the Bakken
The Bakken shale formation is one of the most significant sources of oil and gas production growth in North America. The Canadian side of the Bakken is estimated to contain at least 1 billion barrels of recoverable oil based on current technology. With advances in drilling and production technology, this estimate is expected to increase considerably.
Positioned for growth
The Saskatchewan System, is extremely well-positioned to take advantage of increasing crude oil production from the Bakken play.
The Saskatchewan System has already embarked on two expansions. Phase I, completed in June 2008, increased capacity of the system by 34%. Phase II of the expansion is expected to be completed by the end of 2010 and will add 125,000 barrels per day (bpd) of additional capacity for shippers. Current and future capacities are fully committed.
Enbridge Bakken Pipeline Limited Partnership, a subsidiary of Enbridge Income Fund Holdings, is proposing to extend an existing pipeline, running from Berthold, North Dakota to Steelman, Saskatchewan by constructing 123.5 kilometers (75 miles) of 16-inch diameter pipeline from a new terminal near Steelman, Saskatchewan, transporting North Dakota crude to the Enbridge Pipelines Inc. mainline Terminal near Cromer, Manitoba. Learn more
This proposed Cdn $190 million expansion is part of Enbridge's Bakken Expansion Program that involves a number of separate projects being undertaken by Enbridge Energy Partners in the United States and EIFH in Canada to provide shippers with attractive transportation options based on Enbridge's extensive existing operations in the region.
Once on the Enbridge mainline, Bakken production will have access to the multiple markets accessible from the mainline and connected pipeline systems. Of the 145,000 bpd of capacity added by the program, 25,000 bpd will be available by early 2011 and the remaining 120,000 bpd by early 2013. Capacity can be readily expanded to 325,000 bpd at low cost to accommodate increased production and meet future demand for pipeline capacity.
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