Enterprise Products Partners Acquires Piñon Midstream

Enterprise Products Partners Acquires Navitas Midstream Partners

February 17, 2022

Infrastructure

Enterprise Products Partners L.P. (through an affiliate) agreed to acquire Navitas Midstream Partners, LLC for $3.25 billion in a debt-free, all-cash transaction. The deal gives Enterprise a foothold in natural gas gathering, treating and processing in the core of the Midland Basin of the Permian. Enterprise later announced the acquisition was completed.

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.

MPLX Acquires Northwind Midstream for $2.375 Billion

September 2, 2025

Energy

MPLX LP has completed its $2.375 billion acquisition of Northwind Delaware Holdings LLC (Northwind Midstream), a sour gas gathering, treating and processing business in Lea County, New Mexico. The deal expands MPLX’s Permian natural gas and NGL value chains and supports system capacity growth, including expansion projects expected to increase sour gas treating capacity to 440 MMcf/d in 2026.

Pioneer Natural Resources Acquires DoublePoint Energy Assets in Midland Basin

May 4, 2021

Oil & Gas

Pioneer Natural Resources completed the acquisition of the leasehold interests and related assets of DoublePoint Energy (structured as the purchase of Double Eagle III Midco 1 LLC) in the Midland Basin for approximately $6.2–$6.4 billion in stock, cash and assumed debt. The transaction adds ~97,000 contiguous net acres to Pioneer's Midland Basin footprint and was approved by the boards of the companies; DoublePoint was backed by equity commitments from Apollo, Quantum Energy Partners, Magnetar Capital and Blackstone Credit.

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.

Blackstone Infrastructure to Acquire TXNM Energy

May 19, 2025

Infrastructure

TXNM Energy entered into an agreement for Blackstone Infrastructure to acquire TXNM Energy for $61.25 per share in cash, valuing the transaction at $11.5 billion enterprise value including net debt (excluding securitization debt) and preferred stock. The deal is expected to close in the second half of 2026, subject to shareholder and regulatory approvals.