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

Crestwood Completes Acquisition of Oasis Midstream

February 1, 2022

Energy

Crestwood Equity Partners LP completed its previously announced merger with Oasis Midstream Partners LP, combining the companies to expand Crestwood's scale and competitive position in the Williston and Delaware Basins. The transaction is expected to deliver roughly $45 million of operational and commercial synergies and to enhance the combined company's financial strength and flexibility.

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 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.

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.

Energy Transfer LP Acquires Enable Midstream Partners

December 2, 2021

Oil & Gas

Dallas-based Energy Transfer LP completed its previously announced merger to acquire Oklahoma City-based Enable Midstream Partners, consolidating Enable’s gathering, processing, transportation and storage assets into Energy Transfer’s midstream network. The transaction, effective December 3, 2021, adds substantial fee-based cash flows and geographic footprint (Anadarko, Arkoma and Haynesville basins) and is expected to generate more than $100 million of annual run-rate synergies.