Enterprise Products Partners L.P. acquired remaining 20% stake in Whitethorn Pipeline Company LLC from affiliates of Western Midstream Partners, LP.
February 20, 2024
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Enterprise Products Partners L.P. (NYSE:EPD) acquired remaining 20% stake in Whitethorn Pipeline Company LLC from affiliates of Western Midstream Partners, LP (NYSE:WES) on February 16, 2024. In a related transaction, Enterprise Products Partners L.P. also acquired remaining 25% stake in Enterprise EF78 LLC from affiliates of Western Midstream Partners, LP. These stakes were acquired in a series of debt free for $375 million in total cash consideration. The acquisition was funded with combination of cash on hand and proceeds from the issuance of short-term notes under the partnership?s commercial paper program. As a result of these transactions, Whitethorn and EF78 are now wholly owned subsidiaries of Enterprise Products Partners.
Enterprise Products Partners L.P. (NYSE:EPD) completed the acquisition of remaining 20% stake in Whitethorn Pipeline Company LLC from affiliates of Western Midstream Partners, LP (NYSE:WES) on February 16, 2024.
Western Midstream Partners, LP acquires, owns, develops and operates midstream assets. The Company is engaged in the business of gathering, compressing, treating, processing, and transporting natural gas, gathering, stabilizing, and transporting condensate, natural gas liquids (NGLs), and crude oil, and gathering and disposing of produced water. The Companyâs midstream assets are located in Texas, New Mexico, Colorado, Utah and Wyoming. In addition, in its capacity as a processor of natural gas, the Company also buys and sells natural gas, NGLs, and condensate on behalf of itself and as an agent for its customers under certain contracts. The Companyâs subsidiaries include Western Midstream Operating GP, LLC, Western Midstream Services, LLC, Western Midstream Services Holdings, LLC and Western Midstream Operating, LP.
WESTERN MIDSTREAM PARTNERS, LP 
