Energy Transfer completed the acquisition of Lotus Midstream from EnCap Flatrock Midstream for $1.45bn.

Energy Transfer, a company engaged in natural gas and propane pipeline transport, completed the acquisition of Lotus Midstream, an energy company focused on the development of midstream infrastructure and services, from EnCap Flatrock Midstream, a venture capital firm, for $1.45bn. Energy Transfer’s acquisition of Lotus Midstream’s Centurion Pipeline assets will increase the Partnership’s footprint in the Permian Basin and provide increased connectivity for its crude oil transportation and storage businesses.