Energy Tra nsferto Acquire Permiana Lotus Midstream for $1.45 billion

摘要

Energy Transfer LP will acquire Lotus Midstream LLC in a $ 1.45 billion cash-and-stock deal, the company said on March 27. The deal includes thousands of miles of pipeline, gathering and storage in the Permian Basin and paves the way for a connecting crude oil pipeline project from Midland to Cushing, Oklahoma. The purchase, from an affiliate of EnCap Flatrock Midstream (EFM), continues a rash of midstream deals worth billions of dollars that began late last year and continued to build momentum in January. The transactions have ranged from smaller bolt-on deals to multi-billion-dollar transactions such as Enterprise Products Partners' acquisition of Navitas and Targa's acquisition of Lucid Energy, Stacey Morris, head of energy research for VettaFi, told Hart Energy.