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Enterprise Completes Acquisition of Occidental's Natural Gas Gathering Affiliate in the Permian Basin

1. EPD acquires Occidental's natural gas gathering affiliate for $580 million. 2. The acquisition enhances EPD's presence in the Midland Basin.

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FAQ

Why Bullish?

The acquisition strengthens EPD's asset base and market position, similar to their past successful deals that boosted stock value.

How important is it?

The acquisition represents a significant expansion for EPD, likely to enhance market confidence and investor sentiment.

Why Long Term?

This acquisition can lead to increased revenue and cash flow over time, enhancing future growth prospects.

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HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE: EPD) (“Enterprise”) today announced that an affiliate of Enterprise has closed its acquisition of a natural gas gathering affiliate of Occidental in a debt-free transaction for $580 million in cash consideration. The acquired assets include certain natural gas gathering systems in the Midland Basin, as well as approximately 200 miles of natural gas gathering pipelines that support Occidental's production activities in the Midlan.

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