Energy Transfer to buy Vaquero Midstream in $2.63 billion cash-and-units deal
ET•Energy Transfer will acquire Vaquero Midstream in a transaction valued at about $2.625 billion, expected to close in the fourth quarter of 2026. The deal includes $1.95 billion in cash and 33.3 million newly issued Energy Transfer common units.
1. Deal details
Vaquero operates about 300 miles of Delaware Basin pipelines under long-term, fee-based contracts. Its Caymus Processing Complex has capacity of 675 MMcf/d, with acreage that could support expansion to about 1.2 Bcf/d; Energy Transfer expects the deal to be immediately accretive to distributable cash flow per common unit.
