Shell Midstream Partners has agreed to acquire Pecten Midstream from Shell Pipeline Co. for $390 million. Pecten Midstream owns the two-million-barrel Lockport Crude Terminal near Chicago and the 174-mile Auger Pipeline System, which transports crude from the Gulf of Mexico. The deal is expected to close next week.
It will be Shell Midstream Partners’ third asset acquisition this year. The company acquired interests in Zydeco Pipeline Co. and Colonial Pipeline Co. in May and an interest in the Poseidon Oil Pipeline Co. in July.
