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New Deal


Announced

Sentinel Midstream and ExxonMobil to form a joint venture Enercoast Midstream Louisiana.

Financials

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

Tags

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United States

Gas Distribution

gas pipeline

Acquisition

Majority

Private

Joint Venture

Domestic

Pending

Friendly

Single Bidder

Synopsis

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Sentinel Midstream, a midstream solutions provider, and ExxonMobil, an energy company, agreed to form a joint venture Enercoast Midstream Louisiana, a pipeline services provider. Financial terms were not disclosed. "We are extremely pleased to continue the growth of our joint venture with ExxonMobil to maximize the potential of Enercoast in the critical Louisiana crude oil market. ExxonMobil and Sentinel's decision to form a second joint venture, in a new geographic area, speaks to the growth of our relationship and the value each party places on it," Jeff Ballard, Sentinel President and CEO.

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