Enlink Midstream Partners announced Monday it will acquire Victoria Express Pipeline (VEX) from Devon, giving the new company a “strategic footprint” into the Eagle Ford Shale play.
The deal is estimated to be worth $220 million and includes the following assets:
- A 56-mile multi-grade crude oil pipeline
- Facilities at the Port of Victoria with an eight-bay truck unloading terminal and 200,000 barrels of above ground storage
- Facilities near the origin of the pipeline (under construction) including an eight-bay truck unloading terminal and 160,000 barrels of above-ground storage
- A condensate pipeline from the Eagle Ford Shale to Victoria
The transaction, expected to close on or about April 1st, is the first of many between Devon and Enlink (formerly Crosstex), who announced a partnership in 2014.
Read more at enlink.com