Tallgrass $282 Million Bid Wins Ruby Pipeline Bankruptcy Auction

Energy infrastructure company Tallgrass won an auction for bankrupt Ruby Pipeline LLC’s nearly 700-mile natural gas pipeline with a $282.5 million bid.

Tallgrass MLP Operations LLC beat out a stalking horse offer for the pipeline from a subsidiary of Ruby’s existing part-owner, Kinder Morgan Inc., Ruby told the Delaware bankruptcy court on Friday.

Tallgrass said in a press release that the purchase, which requires bankruptcy court approval, will enhance its West Coast natural gas service. The pipeline runs from Wyoming to Oregon.

Kinder Morgan subsidiary, EP Ruby LLC, placed a $236 million starting bid for the pipeline. EP Ruby’s ...