Enbridge Bolsters Permian Presence with Salt Creek Acquisition

Enbridge has strengthened its position in the Permian Basin by acquiring Salt Creek Midstream's crude oil gathering business for $600 million. The deal includes full ownership of the Orla and Wink North gathering systems and a 50% interest in the Delaware Crossing system, adding around 500 miles of infrastructure to Enbridge's existing network.

The acquired systems can handle 420,000 barrels per day and provide 350,000 barrels of storage capacity. They serve more than 20 producers covering approximately 320,000 net dedicated acres under long-term agreements with an average remaining contract life of about 10 years.

This strategic acquisition connects Enbridge's gathering systems to several major Permian takeaway pipelines, including the Gray Oak Pipeline, which is controlled by Enbridge. The company said the assets will allow it to provide customers with a more integrated route from the wellhead through Gray Oak and Cactus II to the Enbridge Ingleside Energy Center near Corpus Christi.

'This acquisition will extend Enbridge's footprint deeper into the Permian Basin,' said Colin Gruending, president of Enbridge Liquids Pipelines. The deal is expected to be immediately accretive to distributable cash flow and earnings per share, with Enbridge maintaining its 2026 financial guidance.