ENB
More pipes, more Permian
Enbridge is back in deal mode. The company said it will buy Salt Creek Midstream’s crude oil gathering business for $600 million, snagging 100% of the Orla and Wink North systems plus a 50% stake in Delaware Crossing (DCX).
That’s not exactly a Hollywood trailer drop, but for pipeline investors this is the kind of steady, fee-based expansion that can matter a lot. The business comes with roughly 500 miles of crude gathering infrastructure in the Delaware Basin, one of North America’s busiest oil-producing patches.
Why you should care
Think of this like Enbridge adding another lane to a very crowded highway. The more barrels it can gather and move, the more the company can deepen its role in the Permian value chain — and the more durable its cash generation story can look.
For investors, the key questions are pretty simple:
- Does the deal fit Enbridge’s “safe, boring, pays-the-bills” profile?
- Can it plug neatly into existing assets and boost utilization?
- Is $600 million a good price for more hard infrastructure in a prime basin?
The bigger picture
This isn’t a moonshot. It’s a classic midstream move: buy assets in a prolific basin, collect fees, and keep the machine humming. Big picture: Enbridge keeps leaning into the Permian, and that usually signals management still sees plenty of room to grow without having to swing for the fences.