Permico Founders Acquires Assets of Permico Midstream Partners

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.

Imperative Chemical Partners Acquires Performance Chemical Company

October 7, 2024

Oil & Gas

Imperative Chemical Partners, Inc. acquired Performance Chemical Company, a Midland, Texas-based provider of specialty chemical solutions serving midstream and production operators in the oil & gas industry. The acquisition expands Imperative's midstream service capabilities and geographic reach, while PCC's founders will retire following the transaction; terms were not disclosed.

Six One Commodities (61C Global) Acquires Vega Energy Partners and WGL Midstream

April 26, 2021

Energy

Six One Commodities Global LLC (61C Global), backed by Pinnacle Asset Management, acquired Vega Energy Partners, Ltd. and WGL Midstream, Inc. The deals expand 61C Global’s U.S. natural gas and midstream footprint, add asset-management and pipeline/storage capabilities, and prompt a new Houston presence to integrate the VEP team.

Tailwater Capital Acquires NorTex Midstream Partners

February 17, 2021

Oil & Gas

Dallas-based private-equity firm Tailwater Capital agreed to acquire NorTex Midstream Partners LLC, a Houston-based natural-gas storage and midstream operator. The acquisition gives Tailwater ownership of NorTex’s underground storage capacity (about 36 billion cubic feet), a trading hub and roughly 83 miles of pipeline near the Dallas–Fort Worth area to support gas-fired power generation as a complement to renewable energy.

MPLX LP Acquires Northwind Midstream for $2.375 Billion

September 2, 2025

Energy

MPLX LP completed the $2.375 billion acquisition of Northwind Delaware Holdings LLC (Northwind Midstream), adding sour gas gathering, treating and processing capacity in Lea County, New Mexico. The deal strengthens MPLX’s Permian Basin natural gas and NGL value chains, is expected to be immediately accretive to distributable cash flow, and includes an estimated $500 million of incremental capital for expansion projects.

Voyager Midstream Acquires East Texas Gas Gathering and Processing Assets From Phillips 66

September 3, 2024

Energy

Voyager Midstream Holdings, a Pearl Energy Investments portfolio company, acquired natural gas gathering and cryogenic processing assets from Phillips 66 located in East Texas and north Louisiana, including roughly 550 miles of pipelines, 400 MMcf/d processing capacity, and 12,000 bpd fractionation capacity. The deal also includes the Carthage Hub, a major gas trading and delivery hub with >1 Bcf/d handling capability, and is intended to expand Voyager's footprint in the Haynesville Shale and improve producer connectivity to Gulf Coast markets.