Reported 4 months ago
Energy Transfer has agreed to acquire WTG Midstream in a $3.25 billion deal, with a cash payment of $2.45 billion and issuance of around 50.8 million Energy Transfer common units to the sellers. This acquisition from Stonepeak affiliates, the Davis Estate, and Diamondback Energy will give Diamondback about $375 million. WTG Midstream provides midstream services in the Permian Basin, with a 6,000-mile pipeline network and eight processing plants. The deal is expected to close in the third quarter of 2024, subject to regulatory approval.
Source: YAHOO