Enterprise Products Partners completed the acquisition of Piñon Midstream from Black Bay Energy Capital for $950m.

Enterprise Products Partners, a provider of midstream energy services to producers and consumers of natural gas, completed the acquisition of Piñon Midstream, a gas company, from Black Bay Energy Capital, a private equity firm, for $950m. “Congratulations to the Enterprise team on a smooth and successful transaction. We were pleased to have acquired an approximate 19% ownership interest in the parent company of Piñon in connection with our recent Ameredev acquisition that closed in September 2024. We look forward to working with Enterprise going forward as we develop our assets in southern Lea County, New Mexico. We plan to use the approximate $113m in sales proceeds to pay down our $980m in current outstanding borrowings under our $2.25bn credit facility,” Joseph Wm. Foran, Founder, Chairman and CEO Matador.