Enbridge to buy Salt Creek Midstream crude gathering assets for US$600 million

Enbridge Inc. (ENB) will acquire Salt Creek Midstream's crude oil gathering business for $600 million in cash, including 500 miles of infrastructure in the Delaware Basin. The deal is expected to close in 2026 and will boost distributable cash flow and earnings per share, according to the company. Enbridge shares were up 0.32% in premarket trading.

Enbridge Inc. (TSX:ENB) agreed to acquire Salt Creek Midstream’s crude oil gathering business in the Delaware basin for US$600M. The deal includes 800km of infrastructure, serving over 20 producers, with a capacity of 420,000 barrels per day. The transaction is expected to close in late 2026, subject to conditions.

Enbridge (ENB-T) will acquire Salt Creek Midstream's crude oil gathering business for $600M, expanding in the Permian Basin. The deal includes 800 km of infrastructure, serving 20+ producers. Enbridge expects the acquisition to boost cash flow and earnings per share, with closing expected in late 2026.

Enbridge (TSX: ENB, NYSE: ENB) agreed to buy Salt Creek Midstream's crude oil gathering business for $600M. The deal includes 500 miles of infrastructure in the Delaware Basin, serving 20+ producers. Enbridge expects the acquisition to boost cash flow and earnings, with the transaction expected to close in 2026.

The U.S. Army Corps of Engineers approved a permit for Enbridge Energy's Line 5 pipeline tunnel project in Michigan, despite tribal nations' objections. The project aims to replace a segment of the pipeline crossing the Straits of Mackinac. The Army Corps stated the project complies with regulations and does not impair tribal treaty rights, but tribes argue the review was flawed and ignored their concerns. Enbridge needs additional state permits to proceed with construction, which faces ongoing

The U.S. Army Corps of Engineers granted Enbridge Energy a permit for a tunnel under the Straits of Mackinac to house a new Line 5 oil pipeline segment. The permit was issued under the Trump administration's accelerated initiative. However, the Michigan Supreme Court recently overturned state-level approvals, potentially delaying the project despite federal approval. Enbridge calls the decision a 'significant step forward,' while environmental groups and tribes criticize the process.