A subsidiary of EnLink Midstream signed definitive agreements to acquire subsidiaries of Tall Oak Midstream for $1.55 billion. Tall Oak assets serve gathering and processing needs in the growing STACK and Central Northern Oklahoma Woodford plays in Oklahoma.
Separately, a subsidiary of Devon Energy agreed to acquire Felix Energy for $1.9 billion, which holds acreage dedicated to the Tall Oak system.
“This unique and highly attractive transaction underscores the strength and synergies of EnLink’s partnership with Devon,” said Barry E. Davis, EnLink president and CEO. “The acquisition is consistent with our growth strategy and will provide EnLink with an expanded position in one of the best plays in the nation, the liquids-rich STACK play, as well as expand our Oklahoma footprint and diversify our customer base.”