Energy Transfer Expands Gas Network With $2.6 Billion Vaquero Acquisition

Energy Transfer LP has agreed to acquire Vaquero Midstream LLC for approximately $2.625 billion, comprising $1.95 billion in cash and around 33.3 million newly issued common units. The acquisition aims to enhance Energy Transfer's gas gathering and processing network in the Delaware Basin, with the deal expected to close in Q4 2026, pending regulatory approval. Vaquero operates 300 miles of pipelines and has processing capacity that could potentially increase to 1.2 Bcf/d. Following the announcement, Energy Transfer's stock was trading 0.92% lower at $20.43.