Energy Transfer LP Acquires Enable Midstream Partners

Energy Transfer LP to Acquire Crestwood Equity Partners LP

August 16, 2023

Oil & Gas

Energy Transfer LP has entered into a definitive agreement to acquire Crestwood Equity Partners LP in an all-equity transaction valued at approximately $7.1 billion (including assumed debt). The deal extends Energy Transfer’s midstream footprint deeper into the Williston, Delaware and Powder River basins and adds gathering, processing, storage and terminal assets that complement its existing NGL, crude and export capabilities.

Energy Transfer Acquires Lotus Midstream for $1.45 Billion

March 27, 2023

Energy

Energy Transfer LP agreed to acquire Lotus Midstream Operations, LLC (owner of the Centurion Pipeline system) for approximately $1.45 billion from an affiliate of EnCap Flatrock Midstream. Consideration includes $900 million cash and ~44.5 million newly issued Energy Transfer common units; the deal expands Energy Transfer's Permian Basin crude pipeline and storage footprint and is expected to close in Q2 2023 subject to regulatory approvals.

ONEOK Acquires EnLink Midstream

January 31, 2025

Energy

ONEOK, Inc. has completed its acquisition of EnLink Midstream, LLC, with EnLink unitholders receiving 0.1412 shares of ONEOK common stock for each EnLink unit. The deal integrates EnLink's midstream infrastructure into ONEOK's platform, strengthening ONEOK's gathering, processing, transportation and storage capabilities and diversifying its asset base.

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.

ONEOK Acquires Medallion Midstream from Global Infrastructure Partners

October 31, 2024

Oil & Gas

ONEOK, Inc. (NYSE: OKE) has closed its acquisition of Medallion Midstream from Global Infrastructure Partners for approximately $2.6 billion in cash. The deal adds over 1,200 miles of crude gathering pipelines (≈1.3 million barrels per day capacity) and ~1.5 million barrels of crude storage in the Permian Basin, expanding ONEOK's crude gathering, transportation and storage capabilities and creating commercial synergies with its existing pipeline network.

Western Midstream Acquires Meritage Midstream for $885M

September 5, 2023

Energy

Western Midstream Partners, LP agreed to acquire Meritage Midstream Services II, LLC in an all-cash transaction for $885 million to expand its Powder River Basin footprint. The deal adds ~1,500 miles of gathering pipelines, ~380 MMcf/d processing capacity and the Thunder Creek NGL pipeline; closing was expected in Q4 2023 subject to customary approvals.