Crestwood, Oasis Midstream wrap up merger
US midstream company Crestwood Equity Partners and Oasis Midstream Partners said on February 1 the two had successfully closed transactions related to a merger agreement.
Based in Houston, Crestwood owns and operates midstream businesses in multiple shale resource plays across the US. With the acquisition, Crestwood enhances its competitive position in the Williston and Delaware Basins, the company said.
|
Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. |
This enables the company to capture operational and commercial synergies of approximately $45mn with enhanced financial strength and flexibility, it said.
Crestwood will utilise excess available free cash flow from the combined company to make a fourth-quarter 2021 distribution payment.