Enbridge Acquires Salt Creek Midstream Crude Assets in $600 Million Deal
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**Enbridge Expands Permian Basin Footprint with $600 Million Acquisition of Salt Creek Midstream Assets**
Pipeline giant Enbridge announced on Wednesday a $600 million cash agreement to purchase the crude oil gathering operations of Salt Creek Midstream. The strategic acquisition is designed to boost Enbridge’s infrastructure in the highly productive Permian Basin, the premier oil-producing region in the United States, where midstream operators continue to expand networks to feed growing Gulf Coast export facilities.
**Key Highlights of the Transaction:**
* **Direct Export Connection:** The acquired assets will establish a direct pipeline link from Permian production sites to Enbridge’s Ingleside Energy Center, the largest crude export terminal in North America.
* **Infrastructure Expansion:** The transaction grants Enbridge 100% ownership of the Orla and Wink North gathering systems, alongside a 50% interest in the Delaware Crossing system. Together, these systems add roughly 500 miles of Delaware Basin crude gathering pipelines to Enbridge’s portfolio.
* **Strong Customer Base:** The network services over 20 oil producers, supported by long-term commercial commitments covering approximately 320,000 net dedicated acres.
* **Capacity and Storage:** The systems feature a combined throughput capacity of 420,000 barrels per day and 350,000 barrels of storage capacity.
* **Stable Cash Flows:** With an average remaining contract duration of about 10 years, the acquired assets are expected to generate highly predictable, long-term revenue.
* **Financial Outlook:** Enbridge projects the acquisition will immediately boost both earnings per share and cash flow upon closing, which is slated for later in 2026. The company has maintained its existing 2026 financial guidance.
