M&A Deal Summary |
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Date | 2023-08-16 |
Target | Crestwood |
Sector | Energy Services and Equipment |
Buyer(s) | Energy Transfer |
Deal Type | Add-on Acquisition |
Deal Value | 7.1B USD |
Advisor(s) | Evercore Group Intrepid Investment Bankers (Financial) Vinson & Elkins (Legal) |
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Category | Company |
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Founded | 1996 |
Sector | Energy Services and Equipment |
Employees | 13,786 |
Revenue | 78.6B USD (2023) |
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 | 12 of 13 |
Sector (Energy Services and Equipment) | 5 of 6 |
Type (Add-on Acquisition) | 6 of 7 |
State (Texas) | 6 of 7 |
Country (United States) | 11 of 12 |
Year (2023) | 3 of 3 |
Size (of disclosed) | 2 of 6 |
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 |
DATE | TARGET | DEAL TYPE | VALUE |
---|---|---|---|
2024-05-28 |
WTG
Midland, Texas, United States WTG provides comprehensive midstream services including wellhead gathering, intra-basin transportation, and processing services. WTG is based in Midland, Texas. |
Buy | $3.3B |