Enbridge Inc. (energy infrastructure company) has agreed to purchase Salt Creek (energy company) Midstream's crude oil gathering business for USD 600 million in cash, deepening the Canadian pipeline giant's footprint in the Permian Basin and extending its integrated supply chain from wellhead to export terminal.

Deal Details and Asset Profile

The Calgary-based company announced on August 26, 2026, that through a wholly owned subsidiary it has entered into a definitive agreement to acquire 100% of Salt Creek Midstream's Orla and Wink North systems, along with a 50% interest in the Delaware Crossing system, known as DCX.

The three systems together cover approximately 500 miles of crude oil gathering infrastructure situated in the core of the Delaware Basin, which Enbridge describes as one of the most prolific and competitive crude oil producing regions in North America.

The combined infrastructure carries a throughput capacity of 420,000 barrels per day and a storage capacity of 350,000 barrels. The systems serve a diversified customer base of more than 20 producers and are underpinned by approximately 320,000 net dedicated acres operating under long-term commercial agreements.

The average remaining contract life across those agreements is approximately 10 years, a duration Enbridge says provides stable, long-term cash flows and a foundation for future growth.

Strategic Rationale: Completing the Permian Value Chain

For Enbridge, the acquisition represents a deliberate step toward building what the company calls full wellhead-to-water integration in the Permian Basin. The newly acquired gathering systems connect to multiple long-haul Permian crude egress pipelines, including Enbridge's majority-owned Gray Oak Pipeline.

That connectivity allows crude oil gathered at the production level to be moved through Gray Oak and Cactus II before arriving at Enbridge Ingleside Energy Center, which the company identifies as North America's largest crude export terminal.

Colin Gruending, Executive Vice President and President of Enbridge Liquids Pipelines, said the acquisition will extend Enbridge's presence deeper into the Permian Basin through the addition of what he called a highly connected crude gathering platform.

Gruending stated that Enbridge can now offer customers full wellhead-to-water integration via Gray Oak, Cactus II, and the Enbridge Ingleside Energy Center. The deal therefore creates a direct strategic link between upstream Permian production and seaborne crude exports, a connection that had previously been absent at the gathering stage of the company's Permian operations.

Financial Implications and Guidance

Enbridge said it expects the transaction to be immediately accretive to distributable cash flow per share and earnings per share. The company also confirmed that its 2026 financial guidance remains unchanged by the announcement, signaling confidence that the $600 million cash outlay can be absorbed without disrupting its broader financial targets for the year.

RBC Capital Markets acted as financial advisor to Enbridge on the transaction. Sidley Austin LLP and Sullivan and Cromwell LLP served as the company's legal advisors.

Regulatory Process and Expected Closing

The transaction is expected to close later in 2026, contingent on the satisfaction of customary closing conditions. Those conditions include receiving clearance from the Federal Trade Commission under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, the standard federal antitrust review process required for transactions of this scale in the United States.

Enbridge's Broader Position

Enbridge operates across North American natural gas, oil, and renewable power networks, as well as a European offshore wind portfolio. The company is headquartered in Calgary, Alberta, and its common shares trade under the symbol ENB on both the Toronto Stock Exchange and the New York Stock Exchange.

In addition to its conventional pipeline and midstream operations, Enbridge has said it is advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.

The Salt Creek Midstream acquisition adds a new upstream layer to a Permian strategy that Enbridge has been building through its ownership stakes in long-haul pipelines and its position at Ingleside. By inserting itself at the gathering level, Enbridge now controls infrastructure across a more complete segment of the crude oil supply chain, from the point of production through transportation to the point of export.

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