Energy Transfer to Acquire WTG Midstream for $3.25 Billion, Expanding Permian Basin Presence

May 28, 2024, 01:22 PM

US pipeline giant Energy Transfer has agreed to acquire WTG Midstream in a transaction valued at $3.25 billion. The deal includes $2.45 billion in cash and 50.8 million common units. This acquisition will expand Energy Transfer's presence in the Permian Basin, enhancing its natural gas transportation infrastructure. The assets being acquired include core infrastructure in the Midland Basin, previously owned by Diamondback Energy, Stonepeak, and the Davis Estate.