Stratrix
On the Record · Crestwood Equity Partners

Crestwood Equity Partners acquisitions, on the record

The businesses Crestwood Equity Partners bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.

Deals its annual reports describe

BusinessDealWhenValue
Fayetteville gathering systems
Word for word“On October 1, 2020, we sold our gathering systems in the Fayetteville Shale to a third party for approximately $23 million.” 10-K for 2020
agreed divestitureOctober 1, 2020approximately $23 million
several NGL storage and rail-to-truck terminals from Plains
Word for word“In April 2020, we acquired several NGL storage and rail-to-truck terminals from Plains for approximately $162 million.” 10-K for 2020
acquisitionApril 2020approximately $162 million
Williams's 50% equity interest in Jackalope
Word for word“In April 2019, Crestwood Niobrara acquired Williams’s 50% equity interest in Jackalope for approximately $462.1 million, net of cash acquired of approximately $22.5 million; and” 10-K for 2020
acquisitionApril 2019approximately $462.1 million, net of cash acquired of approximately $22.5 million
remaining 50% equity interest in Jackalope
Word for word“In addition, in April 2019, Crestwood Niobrara acquired the remaining 50% equity interest in Jackalope from Williams Partners LP and we began consolidating Jackalope’s results, which partially offset the decrease in revenues experienced related to the decline in commodity prices and producer shut-ins described above.” 10-K for 2020
acquisitionApril 2019—
Bakken transportation assets
Word for word“Our marketing, supply and logistics segment’s EBITDA includes a loss on long-lived assets of approximately $2.4 million during the year ended December 31, 2020, primarily related to the impairment and loss on the sale of our Bakken transportation assets.” 10-K for 2020
divestiture——
Oasis Midstream Partners LP (Oasis Midstream)
Word for word“On February 1, 2022, we completed the Merger with Oasis Midstream, under which Oasis Petroleum Inc. (Oasis Petroleum) received $150 million in cash plus approximately 21.0 million newly issued CEQP common units in exchange for its 33.8 million common units held in Oasis Midstream.” 10-K for 2021
agreed acquisitionOn February 1, 2022, we completed the Merger—
Stagecoach Gas Services LLC (Stagecoach Gas) subsidiaries sold to a subsidiary of Kinder Morgan, Inc.
Word for word“In July 2021, Stagecoach Gas Services LLC (Stagecoach Gas) sold certain of its wholly-owned subsidiaries to a subsidiary of Kinder Morgan, Inc. (Kinder Morgan) for approximately $1.195 billion plus certain purchase price adjustments (Initial Closing) pursuant to a purchase and sale agreement dated as of May 31, 2021 between our wholly-owned subsidiary, Crestwood Pipeline and Storage Northeast LLC (Crestwood Northeast), Con Edison Gas Pipeline and Storage Northeast, LLC (CEGP), a wholly-owned subsidiary of Consolidated Edison, Inc., Stagecoach Gas and Kinder Morgan.” 10-K for 2021
agreed divestitureIn July 2021approximately $1.195 billion plus certain purchase price adjustments
Oasis Midstream Partners LP
Word for word“On February 1, 2022, we acquired Oasis Midstream in an equity and cash transaction valued at approximately $1.8 billion (Oasis Merger).” 10-K for 2022
mergerOn February 1, 2022approximately $1.8 billion
Sendero Midstream Partners LP
Word for word“Sendero and CPJV Acquisitions On July 11, 2022, we acquired Sendero, a privately-held midstream company for cash consideration of approximately $631 million (Sendero Acquisition).” 10-K for 2022
acquisitionOn July 11, 2022approximately $631 million
First Reserve's 50% equity interest in Crestwood Permian Basin Holdings LLC
Word for word“Also, 10 Table of Contents on July 11, 2022, we acquired First Reserve’s 50% equity interest in Crestwood Permian in exchange for approximately $6 million in cash and approximately 11.3 million newly issued CEQP common units (CPJV Acquisition).” 10-K for 2022
acquisition—approximately $6 million in cash and approximately 11.3 million newly issued CEQP common units
Barnett Shale assets
Word for word“Barnett and Marcellus Shale Divestitures On July 1, 2022, we sold our assets in the Barnett Shale to EnLink Midstream, LLC (EnLink) for approximately $290 million, including working capital adjustments.” 10-K for 2022
divestitureOn July 1, 2022approximately $290 million
Tres Palacios Holdings LLC
Word for word“Tres Holdings Divestiture On February 20, 2023, we and BIF II Tres Palacios Aggregator (Delaware) LLC (Brookfield) entered into an agreement with a third party to sell each of our respective interests in Tres Holdings for total consideration of approximately $335 million.” 10-K for 2022
agreed divestitureOn February 20, 2023approximately $335 million
As filedReported in the company's financial data (XBRL), each linked to its filing
Fiscal year endedCash paid for acquisitions (net of cash acquired)Goodwill from acquisitions
2016-12-31$7.2 million$2.4 million
2017-12-31$0—
2018-12-31$0—
2019-12-31$462.1 million$80.3 million
2020-12-31$162.3 million—
2021-12-31$0—
2022-12-31$604.3 million$84.4 million

Deal filings since 2016

Read from Crestwood Equity Partners’s annual reports (10-K for 2022, 10-K for 2021, 10-K for 2020) and the financial data it files with the SEC, as of 2023-02-27. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.