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Enbridge to Buy Salt Creek Midstream Crude Gathering Assets for US$600 Million
The assets add 800 kilometres of crude gathering infrastructure and 420,000 barrels per day of throughput capacity, Enbridge said.
- On Wednesday, Enbridge Inc. announced a definitive agreement to acquire Salt Creek Midstream's crude oil gathering business for US$600 million in cash, expanding its presence in the Delaware Basin.
- The deal includes full ownership of the Orla and Wink North gathering systems and a 50 per cent stake in the Delaware Crossing system, adding about 800 kilometres of crude oil gathering infrastructure.
- Colin Gruending, Executive Vice President and President of Enbridge Liquids Pipelines, said the assets "will strengthen our value chain in the Permian Basin." The acquisition provides full wellhead to water integration via the Enbridge Ingleside Energy Center.
- These assets serve more than 20 producers with combined throughput capacity of 420,000 barrels per day and are backed by about 320,000 net dedicated acres. Average remaining contract life is about 10 years.
- Enbridge expects the deal to close later in 2026, subject to Federal Trade Commission clearance under customary closing conditions. The company confirmed its 2026 financial guidance remains unchanged.
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Winnipeg Free Press+4 Reposted by 4 other sources
Enbridge buying Salt Creek Midstream's crude oil gathering business for US$600M
CALGARY - Enbridge Inc. says it has signed a deal to buy Salt Creek Midstream's crude oil gathering business in the Delaware basin for US$600 million in cash.
·Winnipeg, Canada
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Enbridge to buy Salt Creek Midstream crude gathering assets for US$600 million
Pipeline operator Enbridge said on Wednesday it would acquire Salt Creek Midstream’s crude oil gathering business for US$600 million in cash, expanding its presence in the crude-rich Permian Basin.
·Toronto, Canada
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Enbridge to buy Salt Creek Midstream crude gathering assets in $600M deal (ENB:NYSE)
Enbridge to buy Salt Creek Midstream's crude oil gathering business, comprising 100% of the Orla and Wink North systems and a 50% stake in the Delaware Crossing system, for $600M in cash.
·Ra'anana, Israel
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Total News Sources13
Leaning Left4Leaning Right1Center5Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 40%
C 50%
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