Professional M&A intelligence for the energy transition
Plains All American Pipeline acquired Ironwood Midstream Energy from EnCap Flatrock Midstream for $475 million.. The deal added crude oil gathering assets in the Eagle Ford Shale.
Kinetik Holdings completed its $765 million acquisition of Durango Permian from Morgan Stanley Energy Partners in June 2024. The deal added natural gas gathering, processing, and CO2 sequestration assets in the New Mexico Delaware Basin.
Enterprise Products Partners LP (NYSE: EPD) acquired Piñon Midstream, formerly a portfolio company of Black Bay Energy Capital, for $950 million in cash. The acquired assets, which include natural gas gathering and treating services, expand Enterprise's footprint in the eastern flank of the prolific Delaware Basin of Texas and New Mexico.
Enterprise Products Partners completed its $3.25 billion cash acquisition of Warburg Pincus-backed Navitas Midstream Partners in February 2022. The deal added 1,750 miles of pipelines and processing capacity in the Midland Basin of the Permian.
Phillips 66 acquired Pinnacle Midstream from Energy Spectrum Capital for $550 million in May 2024. The deal added natural gas and water gathering assets in the Midland Basin, expanding Phillips 66's NGL value chain.
Targa Resources completed its $3.55 billion cash acquisition of Riverstone-backed Lucid Energy in July 2022. The deal added 1,050 miles of natural gas gathering pipelines and 1.4 Bcf/d of cryogenic processing capacity in the Delaware Basin.
EQT Corporation completed its $5.5 billion acquisition of Equitrans Midstream in July 2024, reuniting two companies that had separated in 2018. The combined company became the first vertically integrated U.S. natural gas producer with 27.6 Tcfe of proved reserves. The deal gave EQT control of the Mountain Valley Pipeline and over 2,000 miles of gathering […]
ONEOK (NYSE: OKE) acquired Magellan Midstream Partners LP (NYSE: MMP) in a $18.8B cash-and-stock transaction ($25/unit cash + 0.667 ONEOK shares), creating a diversified $60B enterprise with 50,000 miles of pipeline. The deal combined ONEOK's NGL/gas with Magellan's refined products/crude pipelines. Magellan will be merged into a newly created 100% wholly-owned subsidiary of ONEOK. Each […]
Ares Management acquired 100% of Meade Pipeline from XPLR Infrastructure for approximately $1.1 billion in cash. XPLR is an independent power producer formed by NextEra Energy. Meade owns approximately 40% of the Central Penn Line (CPL), a FERC-regulated, 180-mile pipeline that transports natural gas from prolific production zones in the Marcellus and Utica Shale in […]
Targa Resources (NYSE: TRGP) closed the acquisition of Stakeholder Midstream for $1.25 billion in cash. The acquisition will allow Targa Resources to expand its natural gas gathering, treating and processing footprint in the Permian Basin. The assets include about 480 miles of natural gas pipelines and roughly 180 MMcf/d of cryogenic processing and sour-gas treating capacity, […]