Energy Transfer Completes $7.1 Billion Acquisition of Crestwood Equity Partners to Expand Pipeline Operations.

Energy Transfer has completed its $7.1bn acquisition of Crestwood Equity Partners, a move to expand its position in the Delaware and Williston basins. The all-stock deal includes the assumption of $3.3bn of debt and was approved by the master limited partnership’s unitholders in late October 2023. Following the closing of the acquisition, Energy Transfer now owns and operates around 201,168km of pipelines and associated assets across 41 states in the US. The acquisition is expected to benefit Energy Transfer’s natural gas liquid (NGL) and refined products and crude oil operations by incorporating strategically situated storage and terminal assets.