07:37 AM EDT, 08/21/2024 (MT Newswires) -- An Enterprise Products Partners ( EPD ) affiliate has agreed to acquire Pinon Midstream for $950 million in a debt-free cash transaction, the companies said Wednesday.

The deal includes around 50 miles of natural gas pipelines, five 3-stage compressor stations, treating facilities, and acid gas injection wells, according to the joint statement.

The acquisition is expected to close in Q4, subject to regulatory approvals. Enterprise said it plans to fund the acquisition using cash on hand and borrowings from its existing commercial paper program and bank credit facilities.

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