Enbridge Buys Salt Creek Gathering Assets for $600MM

Enbridge has reached a $600MM deal to acquire Salt Creek Midstream's crude oil gathering business, expanding its upstream presence in the Permian Basin.

The acquisition includes a 100% interest in the Orla and Wink North systems and a 50% stake in Delaware Crossing (DCX).

These assets bring around 500 miles of crude gathering pipeline, 420 Mb/d of throughput capacity, and 350 Mbbl of storage to Enbridge's network.

The deal provides Enbridge with stable fee-backed cash flows while increasing its exposure to Delaware production growth.

Salt Creek serves over 20 producers across more than 320,000 dedicated acres and is backed by long-term contracts with an average remaining life of around 10 years.