Ironwood Midstream II Acquires Gardendale and Asherton Gathering Systems from Twin Eagle

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.

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.

Cureton Midstream Acquires Gilcrest System from Aka Energy Group

February 2, 2022

Energy

Denver-based Cureton Midstream, a Tailwater Capital portfolio company, acquired the Gilcrest System — a midstream gas gathering and processing system in the DJ Basin — from Aka Energy Group on February 1, 2022. The asset adds more than 38 MMcf/d of processing capacity, over 100 miles of gathering pipeline and long-term acreage dedications, expanding Cureton's processing capacity and connectivity in the core of the DJ Basin.

Tall Oak Midstream II (Tailwater-Backed) Acquires Redcliff Midstream

March 24, 2021

Energy

Tall Oak Midstream (Tall Oak II), backed by Dallas-based private equity firm Tailwater Capital, has acquired Redcliff Midstream, a gas gathering, treating and processing provider operating in Oklahoma's Northern STACK play. The acquisition expands Tall Oak II’s pipeline, compression and processing footprint in the Northern STACK Extension region; financial terms were not disclosed.

Tailwater Capital Acquires Tall Oak Midstream II and III from EnCap Flatrock Midstream

January 27, 2021

Energy

Tailwater Capital LLC has signed definitive agreements to acquire Tall Oak Midstream II and Tall Oak Midstream III from EnCap Flatrock Midstream. The transactions — executed via Tailwater Energy Fund III (Tall Oak III) and Tailwater Energy Fund IV (Tall Oak II) — will be integrated operationally with Tailwater's portfolio company Connect Midstream to expand pipeline, processing and compression capacity in the Arkoma STACK basin. Financial terms were not disclosed.

DTE Midstream Acquires Haynesville Gathering System and 36" Pipeline from Momentum Midstream and Indigo Natural Resources

October 22, 2019

Oil & Gas

DTE Midstream (a unit of DTE Energy) agreed to acquire a gathering system and a 150-mile, 36" gathering pipeline in the Haynesville shale from Momentum Midstream and Indigo Natural Resources for $2.25 billion in cash plus a $400 million milestone payment. The assets include an existing 1.2 Bcf/d gathering system (expandable to 2 Bcf/d) and a pipeline under construction; both assets are supported by long-term contracts and provide DTE enhanced access to Gulf Coast and Louisiana gas markets. The transaction was approved by DTE's board, expected to close in Q4 2019, and was reported as officially closed on December 4, 2019.