Save for later Print Download Share LinkedIn Twitter Midstream and logistics giant Enterprise Products Partners announced that it has reached a deal to acquire privately held Navitas Midstream Partners, growing its footprint in the Permian Basin. The $3.25 billion all-cash deal will give Enterprise a toehold in the Midland subbasin of the Permian at the wellhead level, the company noted. Acquiring Navitas gives Enterprise access to roughly 1,750 miles of pipelines in the Midland, as well as over 1 Bcf/d of processing capacity once the Leiker plant comes into service — a development expected in the first half of the year. Enterprise said that Navitas' pipeline network could support "up to 10,000 drilling locations, or over fifteen years of drilling inventory based on current rig counts." Enterprise’s main operations involve the transport and storage of hydrocarbons, and the firm is one of the key players in US exports of crude oil, NGLs and refined products. Some experts have thus raised an eyebrow over its acquisition of Navitas, given that it adds little in terms of throughput capacity and instead expands Enterprise's exposure to the upstream.
