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Enterprise Products Partners Boosts Growth with $580M Midland Basin Acquisition
Enterprise Products Partners Boosts Growth with $580M Midland Basin Acquisition
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BTCCSquare news:
Enterprise Products Partners (EPD) is positioning itself for accelerated growth through a strategic $580 million acquisition of natural gas-gathering assets from Occidental Petroleum. The deal includes 200 miles of pipelines and a long-term dedication of 73,000 acres in Texas' Midland Basin, reinforcing EPD's infrastructure dominance.
The MLP's $6 billion project pipeline—slated for second-half 2024 completion—signals sustained distribution growth potential. With 26 consecutive years of dividend increases currently yielding nearly 7%, EPD demonstrates rare stability in the energy midstream sector. This transaction exemplifies how traditional energy players are consolidating assets to optimize operations amid evolving market demands.
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