Enbridge to acquire Salt Creek Midstream’s crude assets for $600m

Canadian midstream company Enbridge has reached a deal to acquire Salt Creek Midstream’s crude oil gathering business in the US for $600m in cash.

Canadian midstream company Enbridge has reached a deal to acquire Salt Creek Midstream’s crude oil-gathering business in the US for $600m (C$833.36m) in cash. The transaction, made through a wholly owned subsidiary of Enbridge, includes 100% of the Orla and Wink North systems and a 50% stake in the Delaware Crossing (DCX) system. Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms. Find out more The assets cover roughly 500 miles of crude oil-gathering infrastructure in the Delaware Basin, an area known for crude oil production in North America.

The systems supports more than 20 different producers and operate under long-term commercial agreements spanning roughly 320,000 net dedicated acres. These contracts have an average remaining duration of around ten years, offering stable, long-term cash flows and a foundation for future development. Enbridge liquids pipelines executive vice-president and president Colin Gruending said: “The acquisition will extend Enbridge’s presence deeper into the Permian Basin through the addition of a highly connected crude gathering platform.

“These assets will strengthen our value chain in the Permian Basin and Enbridge can now offer customers full wellhead to water integration via Gray Oak, Cactus II and the Enbridge Ingleside Energy Center.” Together, the Orla, Wink North and DCX systems offer a combined throughput capacity of 420,000 barrels per day (bpd), with storage capacity at 350,000 barrels (bbl). The gathering systems provide access to several long-haul Permian Basin crude pipelines, including the Gray Oak Pipeline, which is majority-owned by Enbridge. The company stated that the acquisition will establish a direct connection from Permian Basin production to the Enbridge Ingleside Energy Center, which is said to be North America’s largest crude export terminal. Completion of the transaction is anticipated later in 2026, pending standard closing requirements. These include regulatory clearance from the Federal Trade Commission under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

Enbridge expects the move to immediately enhance its distributable cash flow per share and earnings per share, while keeping its 2026 financial guidance unchanged. RBC Capital Markets served as financial adviser to Enbridge. Legal advice was provided by Sidley Austin and Sullivan & Cromwell.

In April 2026, the Canadian Government approved Enbridge’s C$4bn Sunrise Expansion Programme, allowing for increased natural gas transport on its Westcoast pipeline in British Columbia. Enbridge intends to boost capacity on the southern part of the 1,835-mile (2,953km) pipeline by approximately 300 million cubic feet per day.

Источник: https://www.offshore-technology.com/news/enbridge-to-acquire-salt-creek-midstreams-assets/