Enbridge to buy Salt Creek Midstream assets for $600-million, expanding Permian Basin presence

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 (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.

Enbridge's $4B Sunrise project, expanding Westcoast Energy's natural gas pipeline, is split into four segments. Construction began in July, with completion expected by 2028. The project aims to add 300M cubic feet per day capacity, involving multiple contractors and Indigenous partnerships. Enbridge has spent $54M on Indigenous businesses as of March 2026.

EPD reported record Q2 DCF of $2.3B, 1.9x distribution coverage, and raised guidance. ET beat Q2 EPS estimates and raised full-year EBITDA guidance. ENB's 10% pullback improves entry point, with CEO citing strong growth environment. All three companies are US-listed and posted record volumes.