ENTERPRISE PRODUCTS PARTNERS LP
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
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Sep 30, 2024 · Filed Nov 8, 2024
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18. Subsequent Event
Note 18. Subsequent Event
Acquisition of Piñon Midstream
In August 2024, we announced that an affiliate of Enterprise entered into a definitive agreement to acquire Piñon Midstream, LLC (“Piñon Midstream”) for $950 million in cash consideration. This transaction, which closed October 28, 2024, was funded using cash on hand.
Piñon Midstream’s assets include approximately 50 miles of natural gas gathering and redelivery pipelines, five 3-stage compressor stations, 270 million cubic feet per day (“MMcf/d”) of hydrogen sulfide and carbon dioxide treating facilities and two high capacity acid gas injection wells. Due to the recent nature of this transaction, we have not completed the preliminary allocation of the purchase price.
ITEM 2.
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