Enterprise Products Partners Acquires Piñon Midstream for $950M

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.

Enterprise Products Partners Acquires Navitas Midstream

February 17, 2022

Energy

Enterprise Products Partners L.P. completed the previously announced $3.25 billion acquisition of Navitas Midstream Partners, LLC, giving Enterprise a foothold for natural gas gathering, treating and processing in the Midland Basin. Navitas' assets include ~1,750 miles of pipelines and over 1 billion cubic feet per day of cryogenic natural gas processing capacity backed by long-term contracts.

Pioneer Natural Resources Acquires DoublePoint Energy Assets in Midland Basin

May 4, 2021

Oil & Gas

Pioneer Natural Resources completed the acquisition of the leasehold interests and related assets of DoublePoint Energy (structured as the purchase of Double Eagle III Midco 1 LLC) in the Midland Basin for approximately $6.2–$6.4 billion in stock, cash and assumed debt. The transaction adds ~97,000 contiguous net acres to Pioneer's Midland Basin footprint and was approved by the boards of the companies; DoublePoint was backed by equity commitments from Apollo, Quantum Energy Partners, Magnetar Capital and Blackstone Credit.

MPLX LP Acquires Northwind Midstream for $2.375 Billion

September 2, 2025

Energy

MPLX LP completed the $2.375 billion acquisition of Northwind Delaware Holdings LLC (Northwind Midstream), adding sour gas gathering, treating and processing capacity in Lea County, New Mexico. The deal strengthens MPLX’s Permian Basin natural gas and NGL value chains, is expected to be immediately accretive to distributable cash flow, and includes an estimated $500 million of incremental capital for expansion projects.

Kinder Morgan Acquires NextEra Energy Partners' South Texas Assets (STX Midstream)

December 28, 2023

Oil & Gas

Kinder Morgan closed its previously announced $1.815 billion acquisition of NextEra Energy Partners' South Texas assets (STX Midstream), acquiring majority interests in multiple natural gas pipelines including a 90% interest in the NET Mexico pipeline and a 50% interest in Dos Caminos LLC. The assets expand Kinder Morgan's South Texas footprint and provide greater connectivity to LNG, Mexico export and Gulf Coast power and industrial markets.

Crestwood Acquires Sendero Midstream from ECP for $600M

June 3, 2022

Energy

Crestwood Midstream Partners LP (an affiliate of Crestwood Equity Partners LP) agreed to acquire Sendero Midstream Partners LP from ECP for approximately $600 million in cash, subject to customary adjustments and regulatory clearance. Sendero operates gas gathering, two cryogenic processing plants (350 MMcf/d) and ~140 miles of pipeline in Eddy County, New Mexico; Crestwood said the deal expands and high-grades its Delaware Basin footprint and is expected to close in mid‑2022.