Energy Transfer to Acquire Enable Midstream for $7 billion
Special to P&GJ
Dallas-based Energy Transfer and Oklahoma City’s Enable Midstream Partners are merging after agreeing that Energy Transfer will acquire Enable for an all-equity $7.2 billion deal, the companies announced.
Enable owns and operates about 14,000 miles of natural gas, crude oil, condensate and produced water gathering pipelines, about 2.6 Bcf/d of natural gas and processing capacity, about 10,000 miles of interstate pipelines and seven natural gas storage facilities, according to the company.
Acquiring Enable will increase Energy Transfer’s natural gas and natural gas liquid (NGL) transportation business by significantly strengthening its NGL infrastructure, a news release states.
Energy Transfer will add natural gas gathering and processing assets in the Anadarko Basin in Oklahoma and integrate that with Energy Transfer’s existing NGL transportation and fractionation assets on the U.S. Gulf Coast, according to the news release. Energy Transfer will also acquire gas gathering and processing assets in the Arkoma basin in Oklahoma and Arkansas, as well as the Haynesville Shale in East Texas and North Louisiana, the release states.
Enable Midstream’s revenue decreased in 2020 with a reported revenue of $1.7 billion for the nine-month period through Sept. 30, compared to $2.2 billion a year earlier, The Dallas Morning News reported.
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