Energy Transfer to acquire Vaquero Midstream for $3B in cash and stock

Energy Transfer: Energy Transfer LP operates an extensive network of pipelines and infrastructure for transporting and processing natural gas and natural gas liquids. It recently agreed to acquire Vaquero Midstream to expand its midstream footprint in the Delaware Basin of Texas and integrate additional volumes into its downstream operations. The company recently transitioned its primary listing to the Texas Stock Exchange. Vaquero Midstream: Vaquero Midstream LLC provides natural gas gathering, processing, and related midstream services focused on the Southern Delaware Basin. It operates pipelines serving producers in several West Texas counties along with the Caymus Processing Complex. The company is the target of a bolt-on acquisition by Energy Transfer that will connect its assets to the buyer's broader network. Demand Drivers: Rising natural gas demand from exports and data center development is supporting infrastructure investments in the Permian region. Midstream Expansion: Midstream operators are pursuing bolt-on acquisitions to integrate complementary assets and capture growing natural gas volumes from active basins.