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