M&A Deal Summary

Energy Transfer Acquires Enable Midstream Partners

On February 17, 2021, Energy Transfer acquired oil/gas exploration company Enable Midstream Partners for 7.2B USD

Acquisition Highlights
  • This is Energy Transfer’s 5th transaction in the Oil/Gas Exploration sector.
  • This is Energy Transfer’s largest (disclosed) transaction.
  • This is Energy Transfer’s 8th transaction in the United States.
  • This is Energy Transfer’s 2nd transaction in Oklahoma.

M&A Deal Summary
Date 2021-02-17
Target Enable Midstream Partners
Sector Oil/Gas Exploration
Buyer(s) Energy Transfer
Deal Type Merger
Deal Value 7.2B USD
Advisor(s) Goldman Sachs
Intrepid Investment Bankers LLC (Financial)
Vinson & Elkins
Richards, Layton & Finger PA (Legal)

Target

Enable Midstream Partners

Oklahoma City, Oklahoma, United States
website
Enable Midstream Partners is an operator and developer strategically located natural gas and crude oil infrastructure assets. Enable’s assets include approximately 12,900 miles of gathering pipelines, 14 major processing plants with approximately 2.5 Bcf/d of processing capacity, approximately 7,800 miles of interstate pipelines, approximately 2,200 miles of intrastate pipelines, and eight storage facilities comprising 85.0 billion cubic feet of storage capacity. Enable Midstream Partners was founded in 2013 and is based in Oklahoma City, Oklahoma.

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Buyer(S) 1

Buyer

Energy Transfer

Dallas, Texas, United States

website

Category Company
Founded 1996
Sector Energy Services and Equipment
Employees12,565
Revenue 89.9B USD (2022)
DESCRIPTION

Energy Transfer is a master limited partnership that owns and operates a logistics business consisting of a geographically diverse portfolio of complementary crude oil, refined products, and natural gas liquids pipeline, terminalling and acquisition and marketing assets which are used to facilitate the purchase and sale of crude oil, refined products, and natural gas liquids. Energy Transfer was incorporated in 1996 and is based in Dallas, Texas.

DEAL STATS #
Overall 9 of 12
Sector (Oil/Gas Exploration) 5 of 6
Type (Merger) 1 of 1
State (Oklahoma) 2 of 2
Country (United States) 8 of 11
Year (2021) 1 of 1
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-16 SemGroup

Tulsa, Oklahoma, United States

SemGroup Corp. moves energy across North America through a network of pipelines, processing plants, refinery-connected storage facilities and deep-water marine terminals with import and export capabilities. SemGroup serves as a versatile connection between upstream oil and gas producers and downstream refiners and end-users. Key areas of operation and growth include western Canada, the Mid-Continent and the Gulf Coast. SemGroup is committed to safe, environmentally sound operations. Headquartered in Tulsa, Okla., the company has additional offices in Calgary, Alberta; Denver, Colo.; and Houston, Texas. SemGroup uses its Investor Relations website and social media outlets as channels of distribution of material company information. SemGroup Corporation was founded in 2000 and is headquartered in Tulsa, Oklahoma.

Buy $5.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-27 Lotus Midstream

Sugar Land, Texas, United States

Lotus Midstream is an independent energy company focused on organic development of midstream infrastructure and services necessary to transport crude oil and condensate from the wellhead to market. Lotus also is pursuing strategic acquisition opportunities. The company’s mission is to leverage the management team’s thorough understanding of the crude oil value chain to identify optimal markets for supply and demand to maximize producer netbacks. Lotus Midstream was founded in 2018 and is based in Sugar Land, Texas.

Buy $1.5B
Mergr

Product

Company

Legal