Tallgrass Completes Ruby Pipeline Acquisition
Acquisition expands Tallgrass’ footprint to a nearly coast to coast 2,400-mile horizontal header system
DENVER–(BUSINESS WIRE)–Today, Tallgrass announced the successful completion of its acquisition of the Ruby Pipeline. The acquisition, which was previously announced in December, extends Tallgrass’ reach to west coast markets and adds 683 miles of modern 42” pipeline infrastructure capable of moving 1.5 bcf/d to the company’s extensive asset base.
“We moved quickly to close the acquisition and we are eager to bring Ruby and our new teammates into the Tallgrass family,” said Zach Rider, Vice President Commercial and Corporate Development. “This is a strategic asset which brings immediate value to our portfolio.”
Ruby also enhances the value proposition that Tallgrass can offer to its existing and future customers by providing access to nearly every major demand center across the U.S., as well as supply basin optionality. It also provides an expanded platform for Tallgrass’ continued efforts to offer innovative decarbonized energy solutions.
“Ruby enables cross-continental optionality and access for our existing customer base while providing Ruby’s customers a new partner with a strong track record of performance,” says Dustin Bashford, Segment President for Natural Gas.
Tallgrass was represented by Blank Rome LLP.
Cautionary Note Concerning Forward-Looking Statements
Disclosures in this news release contain forward-looking statements. All statements, other than statements of historical fact, included in this press release that address activities, events or developments that management expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the expected benefits of the acquisition to Tallgrass and to its existing and future customers; expected access to established markets and supply basins; and the potential for using Ruby as a future vehicle for decarbonized energy solutions. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Tallgrass, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements, and other important factors that could cause actual results to differ materially from those projected, including those set forth in reports and financial statements made available by Tallgrass. Any forward-looking statement applies only as of the date on which such statement is made, and Tallgrass does not intend to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
About Tallgrass
Tallgrass is a leading energy infrastructure company focused on safely, reliably and sustainably delivering the energy and services that fuel homes and businesses and enable quality of life. We are committed to being at the forefront of efforts to decarbonize our world. An investor group led by Blackstone Infrastructure Partners, which includes Enagás SA, GIC, NPS and USS, owns the outstanding equity interests in Tallgrass. Learn more at Tallgrass.com.
Contacts
Tallgrass Media Inquiries
Steven Davidson, 817-988-4284
Tallgrass Investor Inquiries
Andrea Attel, 913-928-6012
Investor.relations@tallgrass.com
