EnLink Midstream Completes Acquisition of Delaware Basin Assets
DALLAS–(BUSINESS WIRE)–The EnLink Midstream companies, EnLink Midstream Partners, LP (NYSE:ENLK) (the Partnership) and EnLink Midstream, LLC (NYSE:ENLC) (the General Partner) (together with its subsidiaries “EnLink”), today announced that a subsidiary of the Partnership completed its previously announced acquisition of gathering and processing assets in the Delaware Basin (the “Delaware Basin System”) from a subsidiary of Matador Resources Company (NYSE:MTDR) (“Matador”).
“We are pleased to complete this acquisition which complements our existing natural gas and crude oil gathering, transportation and marketing services in the Delaware Basin”
“We are pleased to complete this acquisition which complements our existing natural gas and crude oil gathering, transportation and marketing services in the Delaware Basin,” said Barry E. Davis, EnLink Midstream President and Chief Executive Officer. “This acquisition solidifies our commitment to grow in West Texas and brings our capital investment in the area to over $1.5 billion. We will execute on approximately $250-350 million of additional growth capital in the Delaware Basin over the next 18 months to expand our presence in this region, which is among the most favorable oil producing plays in the United States.”
About the EnLink Midstream Companies
EnLink Midstream is a leading, integrated midstream company with a diverse geographic footprint and a strong financial foundation, delivering tailored customer solutions for sustainable growth. EnLink Midstream is publicly traded through two entities: EnLink Midstream, LLC (NYSE: ENLC), the publicly traded general partner entity, and EnLink Midstream Partners, LP (NYSE: ENLK), the master limited partnership.
EnLink Midstream’s assets are located in many of North America’s premier oil and gas regions, including the Barnett Shale, Permian Basin, Cana-Woodford Shale, Arkoma-Woodford Shale, Eagle Ford Shale, Haynesville Shale, Gulf Coast region, Utica Shale and Marcellus Shale. Based in Dallas, Texas, EnLink Midstream’s assets include over 9,200 miles of gathering and transportation pipelines, 17 processing plants with 3.6 billion cubic feet per day of processing capacity, seven fractionators with 280,000 barrels per day of fractionation capacity, as well as barge and rail terminals, product storage facilities, purchase and marketing capabilities, brine disposal wells, an extensive crude oil trucking fleet and equity investments in certain private midstream companies.
Additional information about the EnLink companies can be found at www.enlink.com.
This press release contains forward-looking statements within the meaning of the federal securities laws. These statements are based on certain assumptions made by the Partnership and the General Partner based upon management’s experience and perception of historical trends, current conditions, expected future developments and other factors the Partnership and the General Partner believe are appropriate in the circumstances. These statements include, but are not limited to, statements about future financial and operating results, opportunities, objectives, expectations and intentions that are not historical facts. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Partnership and the General Partner, which may cause the Partnership’s and the General Partner’s actual results to differ materially from those implied or expressed by the forward-looking statements. These risks include, but are not limited to, the risk that the assets to be acquired will not be successfully integrated or that such integration will take longer than expected, the risk that the assets to be acquired will not perform as expected, the failure of the Partnership to deploy growth capital in the Delaware Basin, the failure of the assets to be acquired to generate follow-on investment opportunities, the failure to achieve expected synergies, regulatory, economic and market conditions and other risks discussed in the Partnership’s and the General Partner’s filings with the Securities and Exchange Commission. The Partnership and the General Partner have no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.