The energy market dislocations of the COVID era have accelerated consolidation in the midstream sector as oil and gas gatherers — and gas processors — in the Permian and other basins seek greater scale, improved reliability, and the potential to direct more hydrocarbons through their takeaway pipelines. New evidence of this trend came just last week, when Enterprise Products Partners announced it has agreed to acquire privately held Navitas Midstream Partners, a fast-growing gas gatherer and processor in the Permian’s Midland Basin, for $3.25 billion. As we discuss in today’s RBN blog, the acquisition will give Enterprise its first gas gathering and processing assets in the heart of the Midland and may boost volumes on its residue-gas and NGL pipelines there.
Just the Two of Us, Part 3 – Enterprise Expands Into Midland Gas Processing With Navitas Deal
