Targa Resources Corp has acquired Lucid Energy Delaware, a natural gas processor, from Riverstone Holdings LLC and Goldman Sachs Asset Management for $3.55 billion.

Lucid provides natural gas gathering, treating, and processing services in the Delaware Basin.

“Lucid’s management team has developed an attractive position in the Delaware Basin, and we look forward to continuing to provide value-added services to the producer customers. This is an exciting acquisition that aligns with our integrated strategy as we are expanding and diversifying our Permian Basin footprint,” said Matt Meloy, CEO of Targa.

Jefferies acted as financial advisor to Lucid Energy Delaware.