Energy Transfer completed the acquisition of WTG Midstream from Stonepeak, the Davis Estate and Diamondback Energy for $3.25bn.

Energy Transfer, which owns and operates one of the largest and most diversified portfolios of energy assets in the United States, completed the acquisition of WTG Midstream, a privately held midstream company headquartered in Midland, Texas, from Stonepeak, the Davis Estate and Diamondback Energy for $3.25bn. The acquired assets add approximately 6k miles of complementary gas gathering pipelines that extend Energy Transfer’s network in the Midland Basin. Also, as part of the transaction, the Partnership added eight gas processing plants with a total capacity of approximately 1.3 Bcf/d, and two additional processing plants which are under construction.