E3 Consulting® (E3) served as independent engineer to lenders for Wolf Midstream’s recent acquisition financing of 50 percent ownership interest in Access Pipeline (Access) from Devon Corporation.
Access is a dual pipeline system with pumping and measurement facilities used for transportation of diluent and bitumen blend between heavy oil extraction facilities in Northern Alberta and terminals in Edmonton. Under the terms of the transaction, Devon’s thermal-oil acreage is dedicated to Access for an initial term of 25 years. Details on the project can be found on Wolf’s website at www.wolfmidstream.com.
As independent engineer, E3 had responsibility for reviewing the project’s construction, operations, maintenance, technical feasibility and economic viability. The E3 team, led by executive director Al Rettenmaier, addressed the technical and commercial aspects, evaluated specific risks and uncertainties, and offered a prognosis on project success. “Our team found the Access Pipeline system to be a high quality asset, built to a high standard,” Al Rettenmaier said. “This helped streamline our work, making for a successful financing.”by