MPLX LP Acquires Northwind Midstream for $2.375 Billion

Western Midstream Partners Acquires Brazos Delaware II

May 7, 2026

Industrial Services

Western Midstream Partners, LP entered into a definitive agreement to acquire Brazos Delaware II, LLC for approximately $1.6 billion. The deal is a 50% cash / 50% common units transaction, with closing expected in late Q2 2026, and is designed to expand Western Midstream’s Delaware Basin gathering and processing footprint. Western Midstream later announced the acquisition closed on June 11, 2026.

MPLX LP to Acquire Remaining 55% Interest in BANGL, LLC

February 28, 2025

Infrastructure

MPLX LP has signed a definitive agreement to acquire the remaining 55% interest in BANGL, LLC from affiliates of WhiteWater and Diamondback Energy for $715 million, with earnout payments up to a cap tied to financial performance metrics. The deal is expected to close in July 2025 and will make the BANGL Pipeline a wholly owned, consolidated asset of MPLX.

Delek Logistics Partners Acquires H2O Midstream

September 12, 2024

Energy

Delek Logistics Partners, LP (NYSE: DKL) has closed the acquisition of H2O Midstream, a portfolio company of EIV Capital, for total consideration of $230 million ($160 million cash and $70 million in convertible preferred redeemable equity). The purchase expands Delek Logistics’ Midland Basin water midstream capabilities—water gathering, transportation, recycling, storage and disposal—and is expected to create operational synergies with its existing Permian Basin assets.

Enterprise Products Partners Acquires Piñon Midstream

August 21, 2024

Infrastructure

Enterprise Products Partners L.P. (through an affiliate) entered into a definitive agreement to acquire Piñon Midstream, LLC from Black Bay Energy Capital for $950 million in a debt-free cash transaction. Enterprise later announced the acquisition was completed. Piñon Midstream provides natural gas gathering and treating services in the Delaware Basin’s eastern flank in New Mexico and Texas, including sour gas treatment and CO2 permanent sequestration-related infrastructure.

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.

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.