Diamondback Energy to Acquire Rattler Midstream in $2.2 Billion All-Stock Deal

Energy Transfer to Acquire Vaquero Midstream for $2.625 Billion

October 6, 2026

Oil & Gas

Energy Transfer agreed to acquire Vaquero Midstream in a bolt-on transaction valued at approximately $2.625 billion, consisting of $1.95 billion in cash and about 33.3 million newly issued Energy Transfer common units. Vaquero’s Delaware Basin gathering, transportation, and processing assets are expected to expand Energy Transfer’s Permian network and provide additional volumes for its downstream infrastructure; closing is expected in the fourth quarter of 2026, subject to regulatory approval and customary conditions.

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.

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.

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.

Diamondback Energy Acquires Leasehold Interests and Assets of FireBird Energy LLC

November 30, 2022

Oil & Gas

Diamondback Energy, Inc. completed the previously announced acquisition of all leasehold interests and related assets of FireBird Energy LLC. The deal expands Diamondback's Permian Basin asset base, adding upstream leasehold and related operations.

Diamondback Energy to Acquire QEP Resources in ~$2.2B All-Stock Deal

December 21, 2020

Energy

Diamondback Energy, Inc. (NASDAQ: FANG) announced it has entered into a definitive agreement to acquire QEP Resources, Inc. (NYSE: QEP) for approximately $2.2 billion in an all-stock transaction. The deal is expected to close in the first quarter or early second quarter of 2021, subject to QEP stockholder approval, regulatory approvals, and customary closing conditions.