HomeNewsFACTBOX: Deals on the Rise in US Oil and Gas Pipeline Sector

FACTBOX: Deals on the Rise in US Oil and Gas Pipeline Sector

9/21/2023

(Reuters) — Magellan Midstream Partners' unitholders on Thursday voted in favor of the U.S. pipeline operator's planned sale to larger peer ONEOK for $18.8 billion.

The oil and gas pipeline business has seen increased consolidation this year as U.S. production grows and new pipeline permitting problems have made existing operators more valuable.

Here are the major deals in the U.S. pipeline sector in 2023:

Target

Acquirer

Deal type

Deal value (in USD)

Blackstone

Targa Resources 

Asset Acquisition 

$1.05 billion

Lotus Midstream

Energy Transfer 

M&A

$1.45 billion

Magellan Midstream Partners

ONEOK 

M&A

$18.8 billion

Holly Energy Partners 

HF Sinclair 

M&A

$1.44 billion

Crestwood Equity Partners 

Energy Transfer 

M&A

$7.1 billion

Meritage Midstream Services II 

Western Midstream Partners 

M&A

$885 million

 

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