RE:Access Pipelinegood post and I like the details
Devon is in advanced negotiations to sell its 50 percent interest in the Access Pipeline in Canada. An announcement is anticipated within the next several weeks. Jefferies LLC acted as the lead financial advisor to Devon on the transactions. RBC Richardson Barr also acted as a financial advisor to Devon. Vinson & Elkins LLP acted as legal advisor to Devon.
like I said before the buyer of Devon's 50% interest in the access pipeline might be very revealing for who might covet MEG for a JV or for a full out takeover.
my bet is a full out takeover only because MEG is too cheap at current prices.
Now here's a twist, if Cennvus partner at christina lake buys the pipeline, is it connoco or philips 66, I forget then we can assume that a joint takeover of MEG by Cenovus and their christina lake partner will proceed.
my money was always on Imperial/exxon canada buying MEG, but it might make more sense to CVE and their partner to buy meg and then start to increase produciton 10-30,000 bpd for the next 5 years.
I SMELL ACTION HERE AT MEG, TO BAD FOR THE SHORTERS, FINALLY THEY WILL GET WHAT THEY DESERVE.
P.S. i'M ALL COVERD EXCEPT FOR 500 SHARES AND i WILL COVER THOSE TODAY.
GL LONG