Houston-based Crestwood Equity Partners and Oasis Midstream Partners said Oct. 26 they agreed to merge in an equity and cash transaction valued at about $1.8 billion. In Delaware Basin, Crestwood’s acquired assets include 40 miles of crude oil and 50 miles of produced water gathering pipelines in Loving, Ward and Winkler counties. The assets complement Crestwood’s existing Nautilus gas gathering system and Desert Hills produced water gathering system.
Crestwood also recently gained acreage dedications in Delaware Basin by signing a long-term, fixed-fee agreement for natural gas gathering and processing with Novo Oil and Gas. Crestwood will support Novo’s development program in Eddy County to improve utilization of gas processing capacity at the Orla complex.