Energy Transfer completes acquisition of WTG Midstream
Published by Isabel Stagg,
Editorial Assistant
World Pipelines,
Energy Transfer LP has announced the completion of its previously announced acquisition of WTG Midstream Holdings LLC (WTG).
Total consideration for the transaction was US$2275 million in cash and approximately 50.8 million newly issued ET common units.
The acquired assets add approximately 6000 miles of complementary gas gathering pipelines that extend Energy Transfer’s network in the Midland Basin. Also, as part of the transaction, the Partnership added eight gas processing plants with a total capacity of approximately 1.3 billion ft3/d, and two additional processing plants which are under construction.
The transaction is expected to add a growing supply of NGL and natural gas volumes to Energy Transfer’s system, providing incremental revenue from gathering and processing activities along with downstream transportation and fractionation fees. The Partnership expects the WTG assets to add approximately US$0.04 of Distributable Cash Flow (DCF) per common unit in 2025, increasing to approximately $0.07 per common unit in 2027.
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World Pipelines’ July 2024 issue
The July 2024 issue of World Pipelines includes articles on coatings, flow assurance, emissions reduction, pigging, and safety and risk management. We also publish our annual HDD Q&A, with participation from Vermeer, TRACTO Technik, and Ditch Witch.
Read the article online at: https://www.worldpipelines.com/contracts-and-tenders/16072024/energy-transfer-completes-acquisition-of-wtg-midstream/
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