Western Midstream Announces Closing of Meritage Midstream Acquisition
Western Midstream Partners, LP (
NYSE: WES) (“WES” or the “Partnership”) today announced the closing of the previously announced acquisition of Meritage Midstream Services II, LLC (“Meritage”). The consideration was funded with cash on hand and WES’s recent $600 million investment grade senior notes issuance. The Meritage acquisition transforms WES’s existing asset footprint in the Powder River Basin with expanded gathering and processing facilities, a diversified customer base, and long-term contracts supported by minimum volume commitments and acreage dedications.
