Enterprise this week (2/21) announced it has acquired Western MIdstream Partners' minority stakes in its 620 Mb/d Midland-to-ECHO1 crude oil pipeline and two NGL fractionators at its Mont Belvieu, Texas hub for $375 million. Enterprise also unveiled a $25 million deal to buy Western's 15% interest in Panola Pipeline Company’s 253-mile East Texas-to-Mont Belvieu mixed NGL pipeline, pushing Enterprise's stake to 70% from 55%. Both deals, aimed at consolidating Enterprise's ownership of assets, allowed Western to divest those interests that the company had deemed non-core to its business.
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- Blog
Don't Stop - Targa Resources, Phillips 66 Detail Plans for Expanding Permian-to-Gulf Infrastructure
The handful of midstream companies that provide a full range of “wellhead-to-water” services between the Permian and the Gulf Coast are in growth mode, advancing a long list of gas processing plants, takeaway pipelines, fractionators and export terminal expansions. Last time we looked at what Enterprise Products Partners and Energy Transfer are up to. In today’s RBN blog, we shift our spotlight to what Targa Resources and Phillips 66 are planning, with Targa building a slew of projects and P66 growing primarily through organic opportunities that have arisen following recent bolt-on M&A.
- Blog
Just the Two of Us, Part 4 - U.S. Midstream Consolidation Continues on Many Fronts
Amid all the energy-market excitement of the past few months — the soaring demand for LNG, the march to $100/bbl crude oil, sky-high propane prices, and the like — there also has been a continuing consolidation and repositioning in the U.S. midstream sector. While midstream M&A activity has been all over the map, literally and figuratively, it also has revealed discernible themes, chief among them a push to increase the scale and efficiency of gathering systems. Also evident is the desire to expand into growing production areas and, for some energy giants, to either buy out stakes held by joint venture partners or absorb midstream master limited partnerships they had spun off a few years ago. In today’s RBN blog, we discuss a variety of recent midstream deals and what they tell us about 2022’s energy market.
- Blog
Movers and Shakers - Midstreamers Using Acquisitions and Buyouts to Shake Up Their Portfolios
You might have thought the flurry of acquisitions and buyout deals that midstream companies entered into over the past couple of years would have satisfied their evident desire to refocus, expand and reshape their businesses. But you’d be wrong. In the first half of 2025 — a period of considerable uncertainty in the energy industry — midstream players continued to buy and sell pipelines and other important assets at a frenetic pace. In today’s RBN blog, we discuss some of the more interesting recent transactions and what they tell us about the midstream space.
