Canadian midstream company Enbridge has reached a deal to acquire Salt Creek Midstream's crude oil-gathering business in the US for $600m (C$833.36m) in cash.
The transaction, made through a wholly owned subsidiary of Enbridge, includes 100% of the Orla and Wink North systems and a 50% stake in the Delaware Crossing (DCX) system.
The ***** ets cover roughly 500 miles of crude oil-gathering infrastructure in the Delaware Basin, an area known for crude oil production in North America.
The systems supports more than 20 different producers and operate under long-term commercial agreements spanning roughly 320,000 net dedicated acres.
These contracts have an average remaining duration of around ten years, offering stable, long-term cash flows and a foundation for future development.
#Delaware #roughly #term
The transaction, made through a wholly owned subsidiary of Enbridge, includes 100% of the Orla and Wink North systems and a 50% stake in the Delaware Crossing (DCX) system.
The ***** ets cover roughly 500 miles of crude oil-gathering infrastructure in the Delaware Basin, an area known for crude oil production in North America.
The systems supports more than 20 different producers and operate under long-term commercial agreements spanning roughly 320,000 net dedicated acres.
These contracts have an average remaining duration of around ten years, offering stable, long-term cash flows and a foundation for future development.
#Delaware #roughly #term
15 days ago
