Six One Commodities (61C Global) Acquires Vega Energy Partners and WGL Midstream

Six One Commodities Acquires RiverCrest Power Holdings from BioUrja Group

January 12, 2024

Energy

Six One Commodities LLC ("61C") has purchased RiverCrest Power Holdings, LLC from BioUrja Group, LLC. The acquisition brings RiverCrest's data-driven electricity trading capabilities into 61C's merchant platform to enhance trading efficiency, asset optimization and expand its presence in North American power markets; terms were not disclosed.

Phillips 66 Acquires Pinnacle Midstream from Energy Spectrum Capital

May 20, 2024

Energy

Phillips 66 has agreed to acquire Pinnacle Midland Parent LLC (Pinnacle Midstream II) from private equity firm Energy Spectrum Capital for $550 million to expand its natural gas gathering and processing footprint in the Midland Basin. The assets include the Dos Picos 220 MMcf/d processing plant, ~80 miles of gathering pipeline and 50,000 dedicated acres; the deal is expected to close mid‑2024 subject to customary conditions, including HSR clearance.

Permico Founders Acquires Assets of Permico Midstream Partners

March 3, 2022

Oil & Gas

Permico Founders, LLC acquired the assets of Permico Midstream Partners, LLC through a Chapter 11-administered sale that closed March 3, 2022. The development-stage Houston midstream company — which focuses on transporting and processing natural gas liquids (NGLs) and marketing end products — sold its assets as part of a restructuring; GulfStar served as financial advisor to the trustee during the process.

Energy Transfer Acquires WTG Midstream for $3.25 Billion

May 28, 2024

Oil & Gas

Energy Transfer LP agreed to acquire WTG Midstream Holdings LLC in a transaction valued at approximately $3.25 billion, comprising $2.45 billion in cash and ~50.8 million newly issued Energy Transfer common units. The deal, from affiliates of Stonepeak, the Davis Estate and Diamondback Energy, adds WTG's Permian-focused midstream assets — including a 6,000-mile pipeline network, eight processing plants (≈1.3 Bcf/d) and a 20% interest in the BANGL NGL pipeline — to Energy Transfer's footprint to enhance its gas/NGL supply, processing and downstream capabilities.

Global Partners LP Acquires 25 Liquid Energy Terminals from Motiva Enterprises

December 21, 2023

Oil & Gas

Global Partners LP completed the acquisition of 25 liquid energy terminals from Motiva Enterprises LLC for $305.8 million in cash, supported by a 25-year take-or-pay throughput agreement with Motiva. The purchase nearly doubles Global's U.S. terminal footprint, expanding access to marine loading facilities and major refined-product pipelines to strengthen its supply, storage and retail network.

M6 Midstream (Momentum) Acquires Align Midstream Partners II from Tailwater Capital

September 22, 2022

Energy

M6 Midstream LLC (Momentum) has acquired Align Midstream Partners II, LLC from Tailwater Capital; financial terms were not disclosed. The acquisition expands Momentum's footprint in the Haynesville Shale as it also closed the Midcoast ETX deal and reached final investment decision on its NG3 gathering and carbon capture project to serve Gulf Coast and LNG markets.