Business
I Squared, MPLX, and Enbridge to Acquire Interests in Matterhorn Express Pipeline
I Squared, MPLX LP (NYSE: MPLX), and Enbridge Inc. (NYSE: ENB) jointly announce they have entered into a definitive agreement to acquire equity interests in the Matterhorn Express Pipeline from Ridgemont Equity Partners and Devon Energy Corp. (NYSE: DVN).
About this update from Enbridge Inc.
[{"type":"text","content":"AUSTIN, Texas, May 6, 2025 /PRNewswire/ -- I Squared, MPLX LP (NYSE: MPLX), and Enbridge Inc. (NYSE: ENB) jointly announce they have entered into a definitive agreement to acquire equity interests in the Matterhorn Express Pipeline from Ridgemont Equity Partners and Devon Energy Corp. (NYSE: DVN).","length":303,"tagName":"p"},{"type":"image","alt":"WhiteWater (PRNewsfoto/WhiteWater)","displaySize":"","headline":null,"caption":"WhiteWater (PRNewsfoto/WhiteWater)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":94,"url":"https://media.zenfs.com/en/prnewswire.com/d02d2bb61dc4aef426dc51cdaaafbedb"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/SGjccq4NfoQMPXPl25IM5A--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTE2NjtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/d02d2bb61dc4aef426dc51cdaaafbedb","width":400,"height":94}},"href":"https://mma.prnewswire.com/media/2371784/New_WWM__003_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Following the close of the transaction, WhiteWater, MPLX and Enbridge will own 65%, 10% and 10% of the Matterhorn Express Pipeline, respectively. WhiteWater's equity interest in the Matterhorn Express Pipeline will be jointly backed by FIC and I Squared, and WhiteWater will continue to operate the Matterhorn Express Pipeline.","length":336,"tagName":"p"},{"type":"text","content":"The transaction is expected to close in the second quarter of 2025.","length":67,"tagName":"p"},{"type":"text","content":"About the Matterhorn Express Pipeline","length":37,"tagName":"p"},{"type":"text","content":"The Matterhorn Express Pipeline was placed into service in November 2024 and has approximately 2.5 billion cubic feet per day of fully contracted capacity. The system is comprised of an approximately 510-mile 36-inch and 42-inch diameter mainline and associated compression that transports natural gas from the Waha area in the Permian Basin to Wharton, Texas with additional delivery capabilities into the Katy, Texas area. The pipeline also has two 36-inch diameter laterals in the Midland Basin, one being approximately 50 miles in length and the other approximately 85 miles in length.","length":595,"tagName":"p"},{"type":"text","content":"About WhiteWater","length":16,"tagName":"p"},{"type":"text","content":"WhiteWater is an Austin, Texa...