MarkWest sells Starfish pipeline stake to Enbridge

AP News
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Posted: Jan 04, 2010 3:58 PM

Natural gas and oil pipeline operator MarkWest Energy Partners LP said Monday it has sold its 50 percent stake in Starfish Pipeline Co. to Enbridge Offshore LLC.

Financial details were not disclosed. MarkWest bought the stake in 2005 for $42.1 million.

Denver-based MarkWest's stock rose 76 cents, or 2.6 percent, to $30.03 in afternoon trading. Shares of Enbridge, which like Starfish is based in Houston, Texas, fell 34 cents, or 0.74 percent, to $45.88.