By Tyler Losier, Energy Reporter, Oil & Gas 360
Altus Midstream closes purchase of 33% equity stake in Enterprise-owned Shin Oak Pipeline
Altus Midstream (stock ticker: ALTM), a pure-play Permian-to-Gulf Coast midstream company, has closed a deal with Enterprise Products Partners (stock ticker: EPD) to acquire a 33% equity interest in the Enterprise subsidiary that owns the Shin Oak natural gas liquids (NGL) pipeline, effective July 31.
The Shin Oak pipeline, which runs 658 miles, transports NGLs from multiple basins, including the Permian, to Enterprise’s NGL fractionation and storage complex in Mont Belvieu, Texas. The NGLs that flow through the pipeline are predominantly sourced from Enterprise’s Orla natural gas processin...
