Enterprise completes $3.25bn acquisition of Navitas Midstream
HOUSTON: Enterprise Products Partners L.P. (NYSE: EPD) announced that one of its affiliates completed the previously announced $3.25 billion acquisition of Navitas Midstream Partners, LLC.
This acquisition gives Enterprise a foothold for natural gas gathering, treating and processing in the core of the Midland Basin of the Permian.
Navitas Midstream’s assets, which complement Enterprise’s presence in the Delaware Basin, include approximately 1,750 miles of pipelines and over 1 billion cubic feet per day of cryogenic natural gas processing capacity.
The system is anchored by long-term contracts and acreage dedications with a diverse group of over forty independent and publicly owned producers.
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals.
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