Crestwood Equity Partners Acquires Oasis Midstream Partners in ~$1.8 Billion Deal

Energy Transfer to Acquire Crestwood Equity Partners in $7.1 Billion All-Equity Deal

August 16, 2023

Energy

Energy Transfer LP will acquire Crestwood Equity Partners LP in an all-equity transaction valued at approximately $7.1 billion, including the assumption of about $3.3 billion of debt. The merger is expected to close in the fourth quarter of 2023, subject to approvals and customary closing conditions.

Crestwood Equity Partners Acquires Sendero Midstream Partners

June 3, 2022

Energy

Crestwood Equity Partners LP entered into a definitive agreement to acquire Sendero Midstream Partners, LP for $600 million in cash. The transaction was expected to close in July 2022 and is aimed at expanding Crestwood’s natural gas gathering and processing footprint in Eddy County, New Mexico (Northern Delaware Basin).

Whiting Petroleum and Oasis Petroleum to Merge in ~$6.0B Merger of Equals

March 7, 2022

Oil & Gas

Whiting Petroleum and Oasis Petroleum have entered into an agreement to combine in a merger of equals valued at about $6.0 billion. Under the terms, Whiting shareholders will receive Oasis common stock plus $6.25 cash per Whiting share, and Oasis shareholders will receive a $15.00 special dividend at closing.

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.

Occidental Petroleum to Acquire CrownRock LP in a $12 Billion Deal

December 11, 2023

Oil & Gas

Occidental Petroleum entered into a purchase agreement to acquire Midland, Texas-based oil and gas producer CrownRock L.P. for approximately $12.0 billion, including the assumption of CrownRock’s debt. The deal is expected to close in the first quarter of 2024, subject to regulatory approvals and customary closing conditions.

Delek Logistics Partners Acquires H2O Midstream

September 12, 2024

Energy

Delek Logistics Partners, LP (NYSE: DKL) has closed the acquisition of H2O Midstream, a portfolio company of EIV Capital, for total consideration of $230 million ($160 million cash and $70 million in convertible preferred redeemable equity). The purchase expands Delek Logistics’ Midland Basin water midstream capabilities—water gathering, transportation, recycling, storage and disposal—and is expected to create operational synergies with its existing Permian Basin assets.