News Summary

• (NYSE: ENB ) announced on August 26 that it had agreed to acquire Salt Creek Midstream's crude oil gathering business for $600 million in cash.
• The deal includes full ownership of the Orla and Wink North systems and a 50% interest in the Delaware Crossing (DCX) system.
• The acquisition will extend Enbridge's presence deeper into the Permian Basin through the addition of a highly connected crude gathering platform.
• The move comes after Enbridge recently postponed the second phase ‌of its Mainline crude pipeline network after Canadian producers failed to commit to significant output increases.