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Investors Delay $2 Billion Purchase of Dakota Access Pipeline Stake

HeadlineDec 28, 2016
Pipeline construction

Meanwhile, the company building the Dakota Access pipeline suffered another setback this week, after a pair of major investors held off on a purchase of a $2 billion stake in the project. A filing with the Securities and Exchange Commission shows Enbridge Energy Partners and Marathon Petroleum Corporation won’t meet a previous deadline of December 31 to complete a sale. The companies will now have until March 31 to consider whether to walk away from an investment in the pipeline. Energy analyst Antonia Juhasz called the filing very bad news for Energy Transfer Partners, writing, "If Enbridge and Marathon thought that completion of the pipeline was a done deal, the money would have been a done deal too. This means they are worried and are not feeling secure enough to turn over their cash, putting even more financial pressure on Energy Transfer Partners."

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