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Energy Transfer to acquire Lotus Midstream in a $1.45 billion transaction

3/28/2023

DALLAS & HOUSTON--(BUSINESS WIRE)--Mar. 27, 2023-- Energy Transfer LP (NYSE: ET) and Lotus Midstream LLC announced today that the parties have entered into a definitive agreement pursuant to which Energy Transfer will acquire Lotus Midstream Operations, LLC (Lotus Midstream) in a transaction valued at approximately $1.45 billion from an affiliate of EnCap Flatrock Midstream (EFM). Consideration for the transaction will be comprised of $900 million in cash and approximately 44.5 million newly issued Energy Transfer common units. Lotus Midstream owns and operates Centurion Pipeline Company LLC, an integrated, crude midstream platform located in the Permian Basin. The transaction is expect

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