Enbridge Acquires Salt Creek Midstream Crude Assets in $600M Deal
Canadian midstream company Enbridge has agreed to acquire Salt Creek Midstream's crude oil-gathering business for $600 million (C$833.36 million) through a wholly owned subsidiary. The acquisition includes 100% of the Orla and Wink North systems, along with a 50% stake in the Delaware Crossing system, covering approximately 500 miles of infrastructure in the Delaware Basin. The assets support over 20 producers under long-term agreements on about 320,000 net dedicated acres. These contracts have an average remaining duration of around ten years and are expected to provide stable cash flows for Enbridge. The combined systems offer a throughput capacity of 420,000 barrels per day (bpd) with storage at 350,000 barrels. The deal is anticipated to close later in 2026 after regulatory approvals and will enhance Enbridge's presence in the Permian Basin. The company expects this acquisition to immediately boost distributable cash flow per share and earnings per share without altering its financial guidance for 2026.
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