HOUSTON, TEXAS and CALGARY, ALBERTA--(Marketwire - Feb. 28, 2012) - Enbridge Energy Partners L.P. EEP ("EEP") and Enbridge Income Fund Holdings Inc. ENF ("EIFH"), affiliates of Enbridge Inc. ENB ENB(collectively "Enbridge") today announced a second Open Season for the Bakken Expansion Program in conjunction with an Open Season for EEP's proposed Sanish Pipeline. The Sanish Pipeline will transport crude oil production from Johnson's Corner to Beaver Lodge, North Dakota. The Bakken Expansion Program Open Season will offer pipeline capacity on Enbridge's system from Beaver Lodge into Enbridge's terminal at Cromer, Manitoba where it connects with the Enbridge Mainline System, which offers access to refineries throughout the Upper Midwest, eastern Canada, Mid-Continent and as far as the U.S. Gulf Coast.
The two open seasons are being conducted jointly to provide shippers with the option of contracting for capacity from Johnson's Corner to Enbridge's Beaver Lodge and Berthold Stations as well as to Cromer.
EEP's proposed Sanish Pipeline is a new 36-mile, 12" crude oil line capable of transporting a minimum 67,000 barrels per day (bpd) from Johnson's Corner into EEP's existing facilities at Beaver Lodge. The Bakken Expansion Program, currently under construction by EEP in the US and by Enbridge Income Fund in Canada, will provide a total of 145,000 barrels per day (bpd) of incremental pipeline capacity from Beaver Lodge to Cromer when it comes into service in Q1 2013. At Berthold, EEP is constructing a new 80,000 bpd rail export facility which is planned to be in-service at the same time.
"The Bakken and Three Forks formations have catapulted North Dakota into the position of being one of the leading oil producing states in the U.S. Along with this proposed Sanish Pipeline, we have increased the export capacity of our North Dakota system by almost 350% since 2008," said Stephen J. Wuori, President, Liquids Pipelines, Enbridge. "Sanish provides customers located South of the River with an entrance to Enbridge's expanded systems to access a total of 475,000 bpd of capacity out of North Dakota in 2013. Enbridge is developing other projects that will continue our significant capital investment in this prolific region to provide reliable, economical and secure access to a wide variety of refinery markets, including the US Gulf Coast."
Through the open seasons, shippers will have the opportunity to secure space on the Sanish Pipeline, including 15,000 bpd of service from Johnson's Corner to Cromer.
The binding Open Seasons begin today, February 28, 2012, and closes at 5 p.m. MT on April 11, 2012.
More information about the Sanish Project and the binding Open Seasons is available at http://Bakken.EnbridgeUS.com or by contacting:
Dan Cronin Kelly Wilkins
Enbridge Pipelines Inc. Enbridge Pipelines (North Dakota)
3000-425 1st Street SW 2505 16th Street SW Suite 200
Calgary, Alberta T2P 3L8 Minot, North Dakota 58701
(403) 767-4541 (701) 857-0840
bakken.program@enbridge.com bakken.program@enbridge.com
About Enbridge Energy Partners, L.P.
Enbridge Energy Partners, L.P. (www.enbridgepartners.com) owns and operates a diversified portfolio of crude oil and liquid petroleum transportation and storage assets and natural gas gathering, treatment, processing, transportation and marketing assets in the United States. Its principal crude oil system is the largest transporter of growing oil production from western Canada. The system's deliveries to refining centers and connected carriers in the United States account for approximately 13% of total U.S. oil imports; while deliveries to Ontario, Canada satisfy approximately 70% percent of refinery demand in that region. The Partnership's natural gas gathering, treating, processing and transmission assets, which are principally located onshore in the active U.S. Mid-Continent and Gulf Coast area, deliver approximately 2.5 billion cubic feet of natural gas daily.
Enbridge Energy Management, L.L.C. EEQ manages the business and affairs of the Partnership and its sole asset is an approximate 13% interest in the Partnership. Enbridge Energy Company, Inc., an indirect wholly owned subsidiary of Enbridge Inc. of Calgary, Alberta, (NYSE/TSX: ENB) (www.enbridge.com) is the general partner and holds an approximate 23% interest in the Partnership.
About Enbridge Income Fund Holdings Inc.
Enbridge Income Fund Holdings Inc. is a publicly traded corporation. The Company, through its investment in Enbridge Income Fund, holds high quality, low risk energy infrastructure assets. The Fund's assets include a 50% interest in the Canadian segment of the Alliance Pipeline, a 100% interest in the various pipelines comprising the Saskatchewan System, and interests in more than 400 megawatts of renewable and alternative power generation capacity through a portfolio that includes the 80-MW Sarnia Solar Energy Project, interests in 314 MW of wind generation across five wind projects and a 50% interest in the NRGreen Limited Partnership's waste-heat generating facilities. Information about Enbridge Income Fund Holdings Inc. is available on the Company's website at www.enbridgeincomefund.com.
Forward Looking Information
Certain information provided in this news release constitutes "forward-looking statements" as defined by the Securities and Exchange Commission (SEC) and "forward-looking information" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking statements"). The words "anticipate", "expect", "project", "estimate", "forecast" and similar words or expressions are intended to identify such forward-looking statements. All statements, other than statements of historical fact, included herein that address activities, events, developments or transactions that EEP, EIFH and Enbridge expect, believe or anticipate will or may occur in the future, including anticipated benefits and other aspects of such activities, events, developments or transactions, are forward-looking statements. Although EEP, EIFH and Enbridge believe that the forward-looking statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of risks and uncertainties including or pertaining to, operating performance, regulatory parameters, weather, economic conditions, commodity prices, required approvals by regulatory agencies, the possibility that the anticipated benefits from such activities, events, developments or transactions cannot be fully realized, the possibility that costs or difficulties related thereto will be greater than expected, the impact of competition and other risks and uncertainties set forth in the reports filed with the SEC by EEP and Enbridge, respectively, and in the filings made by Enbridge and EIFH with Canadian securities regulatory authorities. While EEP, EIFH and Enbridge make these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from those expected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. Except as required by law, EEP, EIFH and Enbridge do not intend to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
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