Energy Transfer (ET) Buys WTG Midstream to Expand Operation
Energy Transfer(ET) ZACKS·2024-07-18 00:30
Energy Transfer LP (ET) completed the previously announced acquisition of WTG Midstream Holdings LLC. The firm paid $2.28 billion in cash and nearly 50.8 million newly issued ET common units to complete the acquisition.This acquisition expanded Energy Transfer’s presence in the Midland Basin as it added 6,000 miles of complementary gas-gathering pipelines in the region. The deal added eight gas processing plants with a total capacity of 1.3 billion cubic feet per day and two additional processing plants, wh ...