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.
Related News
Related News
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- ONEOK Agrees to Sell Interstate Gas Pipelines to DT Midstream for $1.2 Billion
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- GOP Lawmakers Slam New York for Blocking $500 Million Pipeline Project
- Texas Oil Company Challenges $250 Million Insurance Collateral Demand for Pipeline, Offshore Operations
Comments