It’s not just the upstream side of the Permian that’s in the midst of a major consolidation. Over the past couple of years, a slew of significant M&A deals have been made in the midstream space, most recently Energy Transfer’s $1.45 billion plan to acquire Lotus Midstream. Backed by private equity, Lotus has assembled an impressive array of crude-oil gathering, storage and long-haul pipeline assets in West Texas and southeastern New Mexico — including the Centurion pipeline system that links the Permian with the crude oil hub in Cushing, OK. In today's RBN blog, we discuss the deal and what it means for Energy Transfer, whose role in the U.S.’s most prolific crude-oil-focused production area is poised to expand by leaps and bounds.
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In the late 2010s, when Permian production was increasing rapidly, midstream companies active in the play were in development overdrive, quickly adding new gathering systems, takeaway pipelines and other infrastructure in a bid to simply keep pace. But when production declined with the onset of the COVID pandemic, many midstreamers were forced to compete to keep their pipelines full, and many projects being planned were delayed or canceled, as we detailed in Finish What Ya Started. In the couple of years since then, there’s been a flurry of Permian midstream M&A activity, a phenomenon we’ve followed in individual blogs and a four-part series that we continue today. Here are a few examples of our coverage in 2021 and 2022:
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About the song
“Just the Two of Us” was written by Bill Withers, William Slatter, and Ralph McDonald. It appears as the second song on side two of Grover Washington Jr.’s 11th studio album, Winelight. The song was released as a single in February 1981 and went to #2 on the Billboard Hot 100 Singles and Adult Contemporary Singles chart. It won a Grammy Award for Best R&B Song. Withers also included the song on his Bill Withers’ Greatest Hits album, released in 1981. Personnel on the record were: Grover Washington Jr. (saxes), Bill Withers (lead vocals), Richard Tee (electric piano), Ray Chew, Paul Griffin (keyboards), Ed Walsh, Bill Eaton (synthesizers), Eric Gale (guitars), Marcus Miller (bass), Steve Gadd (drums), Ralph McDonald (percussion), Robert Greenidge (steel drums), and Hilda Harris, Yvonne Lewis, Ullanda McCullough (backing vocals).
Winelight was recorded in June and July 1980 at Rosebud Recording Studios in New York City, with Grover Washington Jr. and Ralph McDonald producing. The album was released in October 1980 and went to #1 on the Billboard Top Jazz Albums chart and #2 on the Billboard Top Soul Albums charts. Two singles were released from the LP.
Grover Washington Jr. was an American smooth jazz/soul saxophonist who had several hit singles during the 1970s and ’80s. He released 25 studio albums and 20 singles. Washington died in December 1999.
