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Enbridge to Buy $600 Million Permian Crude Gathering Network

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Sig3.50Sen+4.08Env-2.72Soc-0.20Gov+0.47

Enbridge is buying Salt Creek Midstream’s crude oil gathering business for $600 million, gaining full ownership of the Orla and Wink North systems and a 50% stake in Delaware Crossing. The deal adds about 500 miles of infrastructure to handle 420,000 barrels per day and 350,000 barrels of storage for 20+ producers on ~10-year contracts, connecting to Permian takeaway pipelines including Gray Oak. Enbridge kept 2026 guidance and expects to close later this year.

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