Enterprise Products Acquires Piñon Midstream
10/29/2024
(UI) - Enterprise Products’s previously announced acquisition of Piñon Midstream, LLC has concluded, according to Business Wire. The acquisition was a $950 million cash consideration, as part of a debt-free transaction.
The acquired assets include natural gas gathering and treating services, focused in the Delaware Basin in Texas and New Mexico. This is added to existing assets in Enterprise Products’s portfolio, including varied gathering, processing and storage services for both natural gas and crude oil, as well as 50,000 mi of pipelines and 300 MMbbl of liquids storage and 14 Bcf natural gas storage.
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Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
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