Oklahoma City-based Devon Energy and Ridgemont Equity Partners last week divested their 12.5 percent interest in Matterhorn Express, 510-mile natural gas pipeline that ships Permian Basin gas from Waha hub to Wharton and Katy. The acquisition, expected to close in second quarter, was made by a consortium of I Squared, MPLX and Enbridge for about $375 million.
After closing, Whitewater will own 65 percent interest and operate the pipeline, and MPLX and Enbridge will each own 10 percent. ONEOK also owns a portion of Matterhorn.
Matterhorn Express was placed into service in November 2024 with about 2.5 billion cfd of contracted capacity. There also are two laterals in Midland Basin of 85 and 50 miles.