CorEnergy Acquires Crimson Midstream's California Pipeline Assets

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.

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.

Enbridge Acquires Moda Midstream Operating for US$3.0 Billion

October 12, 2021

Oil & Gas

Enbridge Inc. has completed the acquisition of Moda Midstream Operating from Encap Flatrock Midstream for US$3.0 billion, gaining a 100% operating interest in the Ingleside Energy Center and associated pipeline and logistics assets. The deal also gives Enbridge a 20% interest in the Cactus II Pipeline and advances its U.S. Gulf Coast export strategy and connectivity to Permian and Eagle Ford reserves.

Energy Services of America Acquires WV Pipeline, Inc.

December 16, 2020

Industrial Services

Energy Services of America Corporation formed a wholly owned subsidiary, West Virginia Pipeline Acquisition Company, and entered an asset purchase agreement to acquire substantially all assets of WV Pipeline, Inc. for $3.5 million cash plus a $3.0 million seller note; the transaction was expected to close December 31, 2020. The acquisition expands Energy Services' capabilities and geographic presence in gas and water distribution utility services in southern West Virginia, and WV Pipeline's leadership (David and Daniel Bolton) will remain with the business.

DTE Midstream Acquires Haynesville Gathering System and 36" Pipeline from Momentum Midstream and Indigo Natural Resources

October 22, 2019

Oil & Gas

DTE Midstream (a unit of DTE Energy) agreed to acquire a gathering system and a 150-mile, 36" gathering pipeline in the Haynesville shale from Momentum Midstream and Indigo Natural Resources for $2.25 billion in cash plus a $400 million milestone payment. The assets include an existing 1.2 Bcf/d gathering system (expandable to 2 Bcf/d) and a pipeline under construction; both assets are supported by long-term contracts and provide DTE enhanced access to Gulf Coast and Louisiana gas markets. The transaction was approved by DTE's board, expected to close in Q4 2019, and was reported as officially closed on December 4, 2019.

The Carlyle Group Makes Strategic Investment in Crimson Midstream

January 14, 2019

Energy

The Carlyle Group, via its Global Infrastructure Opportunity Fund, has made a strategic equity investment in Crimson Midstream Holdings, LLC to support the company's expansion of crude oil transportation and storage infrastructure. The investment will help accelerate Crimson's projects — including the Swordfish Pipeline — and increase U.S. crude producers' access to global export markets.