Crestwood Equity Partners (NYSE: CEQP) has made a lot of deals over the past few years. Each one has helped increase its focus on its core regions and improve its financial profile so that the company can build long-term value for investors. It recently unveiled a trio of transactions that accomplish those strategic goals.
EnLink Midstream, LLC (NYSE: ENLC) (EnLink) announced today that it has entered into a definitive agreement to acquire North Texas gathering and processing assets from Crestwood Equity Partners LP (NYSE: CEQP) for $275 million, subject to certain customary adjustments and regulatory approval. The adjacency of the assets to EnLink's North Texas footprint provides significant synergies and the opportunity to redeploy assets to EnLink's other areas of operation, resulting in significant capital avo
HOUSTON, May 25, 2022--Crestwood Equity Partners LP (NYSE: CEQP) ("Crestwood") today announced it has entered into a series of agreements under which the company will i) acquire Sendero Midstream Partners, LP ("Sendero Midstream") for $600 million in cash, ii) acquire First Reserve’s 50% equity interest in Crestwood Permian Basin Holdings LLC ("CPJV") for $320 million in Crestwood common units, plus the assumption of asset level debt, and iii) divest its legacy, non-core Barnett Shale assets to