Crestwood Midstream Partners LP is buying Arrow Midstream Holdings LLC for $750 million to expand the company’s Baaken Shale footprint.
Arrow operations include crude oil, natural gas and water gathering systems in North Dakota. The system consists of 460 miles of gathering pipeline, 160 miles of natural gas gathering pipelines and 150 miles of water gathering lines.
Houston-based Crestwood made the acquisition through a subsidiary, Crestwood Arrow Acquisition LLC. Crestwood owns and operates midstream businesses in shale plays across the U.S. Arrow’s operations are about 60 miles southeast of Crestwood’s operations in Williams County, N.D.
Other recent energy deals include Buckeye’s $850 million purchase of Hess Corp.’s terminals, and Templar Energy LLC’s purchase of oil and gas assets in Texas.
For more on oil and gas transactions, see “Fracking Fuels Energy Deals.”