Enbridge has agreed to acquire Salt Creek Midstream’s crude oil gathering business for $600 million in cash, expanding its presence deeper into the Permian Basin and strengthening its crude export network. The acquisition includes 100% of the Orla and Wink North systems and a 50% interest in the Delaware Crossing system.
Together, the assets include approximately 500 miles of crude oil gathering infrastructure located in the Delaware Basin.
The system serves more than 20 producers and is supported by approximately 320,000 net dedicated acres under long-term commercial agreements.
Enbridge said the contracts have an average remaining life of approximately 10 years, providing long-duration cash flows and a base for future growth.
The Orla, Wink North and Delaware Crossing systems have combined throughput capacity of approximately 420,000 barrels per day.
They also include roughly 350,000 barrels of storage capacity.
The gathering network can deliver crude into multiple long-haul Permian pipelines, including Enbridge’s majority-owned Gray Oak Pipeline.
The acquisition is designed to connect Permian production more directly with Enbridge’s broader export infrastructure.
That includes Gray Oak, Cactus II and the Enbridge Ingleside Energy Center.
Enbridge describes Ingleside as North America’s largest crude oil export terminal.
The transaction gives Enbridge a more integrated position across the crude oil value chain, extending from gathering at the wellhead through long-haul transportation and export.
Enbridge expects the acquisition to be immediately accretive to distributable cash flow per share and earnings per share.
The company said its 2026 financial guidance remains unchanged following the announcement. And the deal is expected to close later in 2026.
Support: RBC Capital Markets served as financial advisor to Enbridge. And Sidley Austin and Sullivan & Cromwell served as legal advisors.
KEY QUOTE:
“The acquisition will extend Enbridge’s presence deeper into the Permian Basin through the addition of a highly connected crude gathering platform. These assets will strengthen our value chain in the Permian Basin and Enbridge can now offer customers full wellhead to water integration via Gray Oak, Cactus II and the Enbridge Ingleside Energy Center.”
Colin Gruending, Executive Vice President And President Of Liquids Pipelines At Enbridge
