Enterprise Products Partners (NYSE:EPD) said Wednesday it agreed to acquire interests in Whitethorn Pipeline Company and Enterprise EF78 from Western Midstream Partners (WES) in a series of deals totaling $375M in cash.
Enterprise (EPD) completed the acquisition of Western Midstream’s (WES) 20% equity interest in Whitethorn, which owns the 620K bbl/day Midland-to-Sealy portion of the Midland-to-ECHO 1 crude oil pipeline, and the acquisition of Western Midstream’s 25% stake in EF78, which owns natural gas liquids fractionators 7 and 8 located in Mont Belvieu, Texas, with an aggregate capacity of 170K bbl/day; Enterprise now owns 100% of both assets.
Enterprise (EPD) also agreed to acquire Western Midstream’s (WES) 15% interest in Panola Pipeline Company for $25M in cash; Panola owns a 253-mile pipeline that transports mixed natural gas liquids from natural gas processing plants in east Texas, including Enterprise’s Bulldog plant, to multiple destinations, including the partnership’s NGL fractionation complex.