rawpixel.com
Energy Transfer will make cash payment of $2.45 billion and settle the remaining amount using 50.8 million of its new common units.
The deal is anticipated to close in the third quarter.
As part of the agreement, Energy Transfer will get a 20% stake in the BANGL gas condensate pipeline, which would transport gas from the Permian Basin—the largest oil-bearing basin in the US—to the Texas Gulf Coast. The pipeline will also include gas gathering lines totaling more than 6,000 miles, or over 10,000 kilometers.
About $375 million will be given to Diamondback, according to the press statement.
source: bloomberg.com
The deal is anticipated to close in the third quarter.
As part of the agreement, Energy Transfer will get a 20% stake in the BANGL gas condensate pipeline, which would transport gas from the Permian Basin—the largest oil-bearing basin in the US—to the Texas Gulf Coast. The pipeline will also include gas gathering lines totaling more than 6,000 miles, or over 10,000 kilometers.
About $375 million will be given to Diamondback, according to the press statement.
source: bloomberg.com
