Enterprise to Buy Eagle Ford Pipeline Unit for $2.15 Billion

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Enterprise Products Partners LP agreed to buy a pipeline and processing company in Texas from Pioneer Natural Resources Co. and Reliance Industries Ltd. for $2.15 billion, adding systems that feed exports of lightly processed oil.

Under the agreement, the sellers will continue to use the EFS Midstream system for 20 years, including a minimum volume requirement for the first seven years, Houston-based Enterprise said in a statement Monday. EFS Midstream operates in the Eagle Ford, the most prolific oil field in the U.S. and one of the few areas where producers are adding drilling rigs after prices collapsed.