A pipeline carrying liquefied natural gas exploded in Deer Park, a suburb of Houston, Texas, on Monday, igniting a massive fire that burned for hours and led to widespread evacuations. The explosion, which occurred around 9:55 a.m. near Spencer Highway, sent a towering plume of flames into the sky, visible for miles and spreading panic […]
In a significant expansion of its midstream operations, Energy Transfer LP (NYSE: ET) has agreed to acquire WTG Midstream Holdings LLC from affiliates of Stonepeak, the Davis Estate, and Diamondback Energy, Inc. The deal, valued at approximately $3.25 billion, comprises $2.45 billion in cash and about 50.8 million newly issued Energy Transfer common units. This […]
Sunoco LP (NYSE: SUN) announced two major business moves: the sale of 204 convenience stores to 7-Eleven, Inc. for approximately $1 billion, and the intended acquisition of liquid fuels terminals in Amsterdam, Netherlands, and Bantry Bay, Ireland, from Zenith Energy. Sunoco LP’s $1.0 Billion Deal with 7-Eleven: A Major Shift in Convenience Store Operations Sunoco […]
Energy Transfer has officially completed the acquisition of American midstream operator Crestwood Equity Partners, a transaction valued at $7.1 billion. This strategic move not only expands Energy Transfer’s footprint in the Delaware and Williston basins but also marks its entry into the Powder River basin. Based on Crestwood’s closing price as of August 15, 2023, […]
Energy Transfer LP (NYSE: ET) is set to acquire Houston-based Crestwood Equity Partners LP (NYSE: CEQP) in an all-equity deal worth an estimated $7.1 billion. The agreement encompasses the assumption of about $3.3 billion of Crestwood Equity Partners’ debt as of the closing price dated August 15, 2023. Upon successful completion of the transaction, Crestwood […]
Energy Transfer acquisition of SemGroup : US midstream energy company Energy Transfer has agreed to acquire SemGroup for a total consideration of approximately $5.1 billion, including the assumption of debt and other liabilities. SemGroup, which is headquartered in Tulsa, Oklahoma, operates a network of pipelines, processing plants, refinery-connected storage facilities and deep-water marine terminals across […]
Dallas-based pipeline transport company Energy Transfer has placed the 350mile long Mariner East 2 natural gas liquids (NGLs) pipeline (Mariner East 2 pipeline) into service. The underground NGL pipeline, which is now available for both interstate and intrastate service, delivers domestically produced ethane, propane and butane east from processing plants in Ohio and West Virginia […]