Delek Logistics Partners Acquires Gravity Water Intermediate Holdings (Gravity Water Midstream)

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.

MPLX LP Acquires Northwind Midstream for $2.375 Billion

September 2, 2025

Infrastructure

MPLX LP has completed its $2.375 billion acquisition of Northwind Delaware Holdings LLC (Northwind Midstream), which provides sour gas gathering, treating, and processing services in Lea County, New Mexico. The acquisition strengthens MPLX’s Permian Basin natural gas and NGL value chains and is expected to be immediately accretive to distributable cash flow, with estimated incremental capital of $500 million for in-process expansion projects.

Griffin Dewatering Acquires Pump & Integrity Rental Segment from Cross Country Infrastructure Services

December 8, 2022

Industrial Services

Griffin Dewatering, a portfolio company of Crossplane Capital, has acquired the Pump & Integrity rental segment of Cross Country Infrastructure Services, adding fleet, technical expertise and branch locations to create a national water-management platform. Graycliff Partners provided subordinated debt and a minority equity investment to support Crossplane Capital's acquisition and the merger of Pump & Integrity into Griffin, enabling geographic expansion, equipment efficiencies and cross-sell opportunities.

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.

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

February 1, 2022

Energy

Crestwood Equity Partners LP completed its previously announced merger with Oasis Midstream Partners LP, enhancing Crestwood’s scale in the Williston and Delaware Basins. The deal combines complementary midstream assets and is expected to deliver roughly $45 million in operational and commercial synergies.

Cardinal Midstream Partners Acquires Medallion's Delaware Basin Gas Gathering and Processing Business

February 6, 2023

Energy

Cardinal Midstream Partners, a Dallas-based midstream platform backed by EnCap Flatrock Midstream, closed the acquisition of Medallion Midstream Services' natural gas gathering and processing business in the Delaware Basin (Reeves and Loving counties). The assets include ~80 miles of gathering pipelines and a 140 MMcf/d processing facility and are expected to serve as a cornerstone for Cardinal's growth and future bolt-on opportunities in the basin.