Navitas assets include c.1,750 miles of pipelines
US pipeline heavyweight pivots into Midland gas
Enterprise Products Partners strikes deal for Permian offtake infrastructure
US midstreamer Enterprise Products Partners has struck a $3.25bn all-cash deal with private equity firm Warburg Pincus to acquire Navitas Midstream Partners. Enterprise plans to fund the transaction using cash on hand and borrowings under its existing commercial paper and bank credit facilities. Navitas provides gas gathering, treating and processing services in the Permian’s Midland basin. The firm’s assets include c.1,750 miles of pipelines, and its gas processing capacity will top 1bn ft³/d (28.32mn³/d) with the completion of the Leiker plant, which is expected in the first quarter of 2022. The deal marks Enterprise’s entry point into Midland basin gas and NGLs processing. Drilling activi
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