Energy Transfer Submits HSR Act Filing for WTG Acquisition; Adjusts Purchase Price to $3.1 Billion
(P&GJ) — Energy Transfer LP announced that it recently submitted its premerger notification filing under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the HSR Act) in connection with its previously announced acquisition of WTG Midstream Holdings LLC (WTG).
In addition, Energy Transfer announced that the 20% interest in the BANGL pipeline, which was subject to a right of first offer, will not be included in the transaction. As a result, the purchase price for WTG has been revised to approximately $3.075 billion. Energy Transfer continues to expect accretion of $0.04 per common unit in 2025, increasing to $0.07 per common unit in 2027.
Energy Transfer continues to expect the transaction to close in the third quarter of 2024, subject to receiving HSR Act clearance and customary closing conditions.
WTG owns and operates the largest private Permian Basin gas gathering and processing business with assets located in the core of the Midland Basin. The addition of WTG assets is expected to provide Energy Transfer with increased access to growing supplies of natural gas and NGL volumes enhancing the partnership’s Permian operations and downstream businesses.
Related News
Related News
- Williams' $1 Billion Gas Pipeline Blocked by U.S. Appeals Court, Derailing Five-State Project
- Texas Waha Hub Gas Prices Plunge to Record Lows, Hit Negative Territory
- U.S. Appeals Court Strikes Down Controversial Biden Pipeline Safety Rules
- Texas Oil Pipelines Near Max Capacity, Threatening Future Export Limits
- Williams Seeks Emergency Certificate to Operate $1 Billion Mid-Atlantic Gas Pipeline After Court Reversal
- Report: Houston Region Poised to Become a Global Clean Hydrogen Hub
- Exxon Mobil to Start Gas Reserve Seismic Surveys in Greece
- LaPorte, Texas, Issues Shelter in Place After Altivia Plant Leaks Toxic Gas
- Texas Startup Endeavors Again to Build First Major U.S. Oil Refinery Since 1977
- Mid-Year Global Forecast: Midstream Responding to Demand from LNG Projects
Comments