DTE to acquire midstream assets from Indigo and Momentum Midstream for $2.3bn.

DTE Midstream, a non-utility business of DTE Energy, is set to acquire midstream assets from Momentum Midstream, a gas company, and Indigo Natural Resources, a primary gas company, for $2.3bn. The acquisition includes a gathering system and gathering pipeline in the Haynesville shale formation of Louisiana for a purchase price of $2.3bn in cash, plus a $400m milestone payment upon completion of the gathering pipeline in the second half of 2020. The primary assets gather natural gas produced in the Haynesville shale basin and access multiple major downstream pipelines, including those serving the Gulf Coast. "This acquisition is highly accretive, has world-class resources, has excellent access to large markets, and is in the early- to the mid-cycle development phase. It checks all of our boxes," Jerry Norcia, DTE Energy President and CEO.