Enbridge in $600 Million Deal for Oil-Gathering Business, Expanding Foothold in Permian Basin

By Robb M. Stewart

Enbridge is extending deeper into America's prolific Permian oil patch with a $600 million deal to buy Salt Creek Midstream's crude-gathering business.

The Canadian energy company said Wednesday it struck a definitive cash deal to buy the business, which includes about 500 miles of oil-gathering infrastructure in the core of the Delaware Basin, one of the most competitive crude-producing regions in North America. The acquisition will provide a direct connection between oil production in the Permian Basin and the Enbridge Ingleside Energy Center, North America's largest crude export terminal.

The deal comes amid a flurry of consolidation in the U.S. shale industry as oil and gas producers seek to grow their foothold or snap up assets that large energy companies look to sell after mergers.

With the purchase, Enbridge will pick up all of the Orla and Wink North systems and a 50% interest in the Delaware Crossing, or DCX, system. These oil-gathering assets have a combined 420,000 barrels a day of throughput capacity and 350,000 barrels of storage capacity, and can deliver into a number of long-haul pipelines including Enbridge's Gray Oak pipeline.

The system that Enbridge is buying serves more than 20 producers and is supported by roughly 320,000 net dedicated acres under long-term commercial agreements. The Canadian company said that with an average remaining contract life of about 10 years, the assets provide stable, long-term cash flows and a durable foundation for future growth.

Enbridge, which moves roughly 30% of the crude oil produced in North America and nearly 20% of the natural gas consumed in the U.S., said it expects the assets will immediately boost earnings per share and distributable cash flow per share. Its 2026 financial guidance remains unchanged.

The transaction is expected to close later in 2026, subject to conditions including clearance from the Federal Trade Commission. RBC Capital Markets acted as financial advisor to Enbridge.

Write to Robb M. Stewart at robb.stewart@wsj.com

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August 26, 2026 07:53 ET (11:53 GMT)