Professional M&A intelligence for the energy transition
Sunoco LP acquired NuStar Energy in an all-equity deal valued at $7.3B (incl. assumed debt). NuStar brought ~9,500 miles of pipeline and 63 terminal/storage facilities, significantly diversifying Sunoco's business and enhancing its distribution network. Expected $150M+ of run-rate synergies.
ONEOK acquired Global Infrastructure Partners' entire interest in EnLink Midstream (NYSE: ENLC). The deal consists of 43% of EnLink's outstanding common units for $14.90 per unit and 100% of the interests in the managing member for $300 million, for about $3.3 billion.
Kinder Morgan completed the acquisition of STX Midstream from NextEra Energy Partners for $1.82 billion. STX Midstream owns approximately 462 miles of natural gas pipelines including the Eagle Ford Express system and the Carrizo Pipeline serving Eagle Ford, South Texas, and Mexican demand markets.
An EIG Global Energy Partners-led consortium closed a $12.4 billion investment for a 49 percent stake in Aramco Oil Pipelines Company.
Chevron completed the acquisition of all outstanding public common units of Noble Midstream Partners LP for $1.32 billion. The take-private transaction consolidated Chevron's gathering and processing assets in the DJ and Permian Basins.
Berkshire Hathaway Energy completed its $9.7 billion acquisition of Dominion Energy's natural gas transmission and storage business in November 2020. The deal included over 7,700 miles of pipelines and 900 Bcf of storage.
Energy Transfer LP (NYSE: ET) completed its $7.1 billion all-equity acquisition of Crestwood Equity Partners in November 2023, expanding its midstream footprint in the Williston, Delaware, and Powder River basins. The deal added Crestwood's gathering, processing, and storage assets.
Energy Transfer LP (NYSE: ET) completed its $1.45 billion acquisition of Lotus Midstream Operations from an affiliate of EnCap Flatrock Midstream in May 2023. The deal added the Centurion Pipeline crude oil gathering system spanning the Permian Basin to the Cushing, Oklahoma, hub.
Williams (NYSE: WMB) closed its acquisition of MountainWest Pipelines Holding Company from Southwest Gas Holdings (NYSE: SWX) in a deal including $1.07 billion of cash and $0.43 billion of assumed debt, for an enterprise value of $1.5 billion. The deal added 2,000 miles of interstate pipelines across Utah, Wyoming, and Colorado. MountainWest also operates 56 […]
Sunoco LP completed its $7.3 billion acquisition of NuStar Energy in May 2024. The deal added approximately 9,500 miles of pipelines and 63 storage terminals across the United States and Mexico, expanding Sunoco beyond its core fuel distribution business.