The deal will expand Enterprise’s presence into the Permian Basin’s Midland sub-basin, where the company does not currently have gas or natural gas liquids (NGLs) operations other than downstream pipelines.
“This acquisition will give us an entry point into the basin,” stated the co-CEO of Enterprise’s general partner,
Enterprise anticipates that based on the current outlook for commodity prices, the deal will add around
The Permian, where drillers are primarily targeting oil, is known for large volumes of associated gas production. Enterprise’s acquisition comes at a time when gas prices and demand are surging. Front-month US gas futures were trading at around
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