Western Midstream Acquires Meritage Midstream for $885M
September 5, 2023
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.
- Buyers
- Western Midstream Partners, LP
- Targets
- Meritage Midstream Services II, LLC
- Industry
- Energy
- Location
- Colorado, United States
- Transaction Type
- Buyout
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