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New Deal


Announced

Completed

Western Midstream completed the acquisition of Meritage Midstream Services II for $885m.

Financials

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Transaction Value£701m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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United States

midstream services

Oil Equipment and Services

Acquisition

Domestic

Single Bidder

oil and gas services

Majority

Private

Friendly

Completed

Synopsis

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Western Midstream, a Delaware master limited partnership formed to acquire, own, develop, and operate midstream assets, completed the acquisition of Meritage Midstream Services II, a privately held midstream company headquartered in Denver, Colorado, for $885m. "Since 2013, Meritage has been hard at work building upon its brand as a leading midstream operator in the Powder River Basin, expanding its services into rich gas gathering, processing, and NGL transport. Through the unwavering dedication of our team, we have developed a best-in-class infrastructure platform driven by safe and intelligent operations and founded on strong relationships with our customers and stakeholders. Today’s announcement is a testament to the many years of focused efforts, and I am extremely proud of our team’s many accomplishments. We look forward to watching the combined WES/Meritage team continue to advance this generational asset," Nick Thomas, Meritage CEO.

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