Enbridge Acquires Salt Creek Midstream's Delaware Basin Pipeline Assets
Enbridge (NYSE:ENB), the Canadian energy infrastructure giant, has agreed to acquire Salt Creek Midstream’s crude oil gathering business for $600 million. The acquisition includes approximately 500 miles of pipeline in the core of North America’s prolific Delaware Basin and serves over 20 producers with long-term commercial agreements averaging around ten years remaining. The assets are expected to provide stable cash flows, supporting Enbridge's high-yield dividend (currently above 5.5%). The deal also enhances its strategic position by connecting oil from the Permian Basin directly to export capacity at the Enbridge Ingleside Energy Center via existing pipelines like Gray Oak and Cactus II. While not expected to impact results in 2026, the acquisition is projected to be modestly additive to cash flow and earnings starting in 2027. It aligns with Enbridge’s capital strategy of using its strong balance sheet and growth capacity for accretive acquisitions.
Tickers: $ENB
Topics: Acquisition Energy Oil field operations Pipeline infrastructure