Energy Transfer To Acquire Crestwood -- August 18, 2023

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Press release, Energy Transfer:

RBN Energy: Energy Transfer continues its expansion with Crestwood deal. Archived.

Over the past four years, Energy Transfer (ET) has completed several major acquisitions, all aimed at giving the company the additional size and reach it will need to compete in an increasingly consolidated midstream sector. On Wednesday, ET announced one of its biggest purchases yet: a $7.1 billion deal to acquire Crestwood Equity Partners, which has extensive gathering and processing assets in the Permian, Powder River and Williston basins, as well as NGL terminal and storage facilities east of the Mississippi. In today’s RBN blog, we look at how the addition of Crestwood’s holdings will extend ET’s value chain and complement its fractionation assets at Mont Belvieu and its export capabilities at both its Nederland and Marcus Hook terminals.

Dallas-based Energy Transfer has been on an M&A roll for a while now, and the big chunks of processing plants, pipelines and other midstream assets it’s been acquiring have been coalescing into what seems like a very logical whole. We’ll get to ET’s big-picture plan in a moment.

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