Shell Drops Offshore Pipeline Stake Down To MLP For $1.2B: Report

May 14, 2018

Royal Dutch Shell on Thursday unloaded its stake in a crude oil pipeline company to its master limited partnership Shell Midstream Partners LP.

It’s a drop-down deal worth $1.22 billion, the second major divestment made by the oil giant in the last three days, Law 360 reports.

“Shell Midstream Partners is acquiring Shell’s interest in Amberjack Pipeline Co. LLC, which is co-owned by Chevron.

“The pipeline currently ships about 300,000 barrels of crude oil per day from offshore drilling operations in the Gulf of Mexico.”