Enterprise Products Partners L.P. completed the acquisition of additional 15% member interests in Panola Pipeline Company, LLC from Western Midstream Partners, LP.
March 26, 2024
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Enterprise Products Partners L.P. (NYSE:EPD) entered into a definitive agreement to acquire additional 15% member interests in Panola Pipeline Company, LLC from Western Midstream Partners, LP (NYSE:WES) for $25 million on February 21, 2024. Transaction is debt-free for $25 million in cash consideration. The transaction is expected to be funded using a combination of cash on hand and proceeds from the issuance of short-term notes under the partnership?s commercial paper program. The transaction is expected to close within 45 days of this announcement, subject to terms under existing agreements. As per filing on February 28, 2024 The transaction is expected to close by April 1, 2024.
Enterprise Products Partners L.P. (NYSE:EPD) completed the acquisition of additional 15% member interests in Panola Pipeline Company, LLC from Western Midstream Partners, LP (NYSE:WES) on March 27, 2024.
Western Midstream Partners, LP acquires, owns, develops and operates midstream assets. The Company is engaged in the business of gathering, compressing, treating, processing, and transporting natural gas, gathering, stabilizing, and transporting condensate, natural gas liquids (NGLs), and crude oil, and gathering and disposing of produced water. The Companyâs midstream assets are located in Texas, New Mexico, Colorado, Utah and Wyoming. In addition, in its capacity as a processor of natural gas, the Company also buys and sells natural gas, NGLs, and condensate on behalf of itself and as an agent for its customers under certain contracts. The Companyâs subsidiaries include Western Midstream Operating GP, LLC, Western Midstream Services, LLC, Western Midstream Services Holdings, LLC and Western Midstream Operating, LP.
Enterprise Products Partners L.P. completed the acquisition of additional 15% member interests in Panola Pipeline Company, LLC from Western Midstream Partners, LP.