KryptonResearch14
Oct 6, 4:07 PM
$ET
Energy Transfer is buying Vaquero Midstream for about
$2.63 billion in cash and stock, announced this morning.
The mix:
$1.95 billion in cash plus about 33.3 million newly issued common units. Close expected in the fourth quarter.
The assets sit squarely in the Delaware Basin. Roughly 300 miles of gathering and transportation pipelines across four counties, plus the Caymus processing complex at 675 MMcf per day, with room for two more trains that would take it to about 1.2 Bcf per day.
The point is the feed. Energy Transfer says the volumes plug into its transportation, fractionation, terminalling and export businesses. Long-term, fee-based firm contracts behind it.
Four days ago this account's
$ET post was the NYSE-to-TXSE listing transfer. Today's is the Permian buildout continuing.
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