Crestwood Completes Acquisition of Oasis Midstream

Energy Transfer LP to Acquire Crestwood Equity Partners LP

August 16, 2023

Oil & Gas

Energy Transfer LP has entered into a definitive agreement to acquire Crestwood Equity Partners LP in an all-equity transaction valued at approximately $7.1 billion (including assumed debt). The deal extends Energy Transfer’s midstream footprint deeper into the Williston, Delaware and Powder River basins and adds gathering, processing, storage and terminal assets that complement its existing NGL, crude and export 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.

Summit Midstream Corporation Acquires Tall Oak Midstream III from Tailwater Capital

October 1, 2024

Energy

Summit Midstream Corporation and its subsidiary Summit Midstream Partners, LP completed the acquisition of Tall Oak Midstream Operating, LLC (Tall Oak Midstream III) from an affiliate of Tailwater Capital. Consideration included $155 million in cash, 7.5 million common units/shares (equity consideration) and up to $25 million of contingent cash; the deal expands Summit's natural gas gathering and processing footprint in the Arkoma Basin and rebalances its portfolio toward natural gas.

Bison Acquires Woody Creek Midstream

October 8, 2020

Energy

Oklahoma City-based water infrastructure operator Bison has acquired Woody Creek Midstream, a water midstream company operating in the SCOOP. The deal brings long-term (15–30 year) water gathering and disposal contracts with Casillas Petroleum Resource Partners, Camino Natural Resources and Paloma Operating Company, expanding Bison's footprint and dedicated acreage across the Anadarko Basin.

Occidental Acquires CrownRock L.P.

December 11, 2023

Energy

Occidental (OXY) agreed to acquire Midland-based CrownRock L.P., a joint venture of CrownQuest Operating LLC and Lime Rock Partners, in a transaction valued at approximately $12.0 billion including assumed debt. The deal expands Occidental's Midland Basin footprint with ~170 Mboed of high-margin unconventional production, ~94,000 net acres and ~1,700 undeveloped locations, and is expected to be accretive to free cash flow.