America’s oil and gas output keeps surging to records, forcing producers to seek additional capacity to move their fuels to market, reports World Pipelines.
While the buy-versus-build calculus appears to have shifted toward acquisitions, dealmaking in the sector has been mostly small-scale. There are signs momentum is now building. Pipeline operator ONEOK Inc. agreed last week to buy controlling stakes in EnLink Midstream LLC and Medallion Midstream for $5.9 billion.
Acquiring EnLink boosts ONEOK’s presence in Louisiana’s gas industry, while Medallion has the largest closely held crude-gathering and transportation system in the Permian Basin, the engine of US fossil-fuel growth. Read more.
