M&A Deal Summary

EnLink Midstream Acquires Crestwood Equity Partners - North Texas Gathering & Processing Assets

On May 25, 2022, EnLink Midstream acquired oil/gas exploration company Crestwood Equity Partners - North Texas Gathering & Processing Assets from Crestwood for 275M USD

Acquisition Highlights
  • This is EnLink Midstream’s 2nd transaction in the Oil/Gas Exploration sector.
  • This is EnLink Midstream’s largest (disclosed) transaction.
  • This is EnLink Midstream’s 3rd transaction in the United States.
  • This is EnLink Midstream’s 3rd transaction in Texas.

M&A Deal Summary
Date 2022-05-25
Target Crestwood Equity Partners - North Texas Gathering & Processing Assets
Sector Oil/Gas Exploration
Buyer(s) EnLink Midstream
Sellers(s) Crestwood
Deal Type Divestiture
Deal Value 275M USD

Target

Crestwood Equity Partners - North Texas Gathering & Processing Assets

Houston, Texas, United States
North Texas Gathering and Processing System assets include 500 miles of lean and rich gas gathering pipeline and three processing plants with 425 million cubic feet per day (MMcf/d) of capacity, which will be available for future relocation.

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Buyer(S) 1

Buyer

EnLink Midstream

Dallas, Texas, United States
Category Company
Founded 2013
Sector Energy Services and Equipment
Employees1,072
Revenue 6.9B USD (2023)
DESCRIPTION

EnLink Midstream is an integrated midstream services across natural gas, crude oil, condensate, and NGL commodities. EnLink Midstream was founded in 2013 and is incorporated in Dallas, Texas.

DEAL STATS #
Overall 3 of 3
Sector (Oil/Gas Exploration) 2 of 2
Type (Divestiture) 1 of 1
State (Texas) 3 of 3
Country (United States) 3 of 3
Year (2022) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-22 EnLink Midstream Partners

Dallas, Texas, United States

EnLink Midstream Partners LP is a provider of midstream energy services to producers of natural gas, natural gas liquids, crude oil and condensate. EnLink Midstream Partners was formed in 1992 and is based in Dallas, Texas.

Buy -

Seller(S) 1

SELLER

Crestwood

Houston, Texas, United States
Category Company
Founded 2001
Sector Energy Services and Equipment
Revenue 6.0B USD (2022)
DESCRIPTION

Crestwood is a master limited partnership that owns and operates midstream businesses in multiple shale resource plays across the United States. The company is engaged in the gathering, processing, treating, compression, and transportation of natural gas; storage, transportation, terminalling, and marketing of NGLs; gathering, storage, terminalling, and marketing of crude oil; and gathering and disposal of produced water. Crestwood was founded in 2001 and is based in Houston, Texas.

DEAL STATS #
Overall 3 of 4
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 3 of 4
State (Texas) 1 of 2
Country (United States) 3 of 4
Year (2022) 1 of 2
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-26 Oasis Midstream Partners

Houston, Texas, United States

Oasis Midstream Partners own, develop, operate and acquire a diversified portfolio of midstream assets in North America that are integral to the oil and natural gas operations of Oasis Petroleum and strategically positioned to capture volumes from other producers. Oasis Midstream's initial assets are located in the Williston Basin area of North Dakota and Montana. Oasis Midstream Partners was founded in 2013 and is based in Houston, Texas.

Buy $1.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-12 Crestwood Equity Partners s Marcellus Gathering and Compression System

Houston, Texas, United States

Crestwood Equity Partners's Marcellus Gathering and Compression System includes gas gathering and compression assets in Houston, Texas.

Sell $205M
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