MPLX (MPLX) Enbridge (ENB), and I Squared have agreed to acquire equity interests in the Matterhorn Express Pipeline from Ridgemont Equity Partners and Devon Energy (DVN), WhiteWater, the operator of the pipeline, said Tuesday.
Financial terms were not disclosed.
Upon the close of the transaction, MPLX and Enbridge will each own 10% Matterhorn Express Pipeline while WhiteWater will retain 65%, the company said.
WhiteWater said its equity interest in Matterhorn will be backed by FIC and I Squared, while WhiteWater will continue to serve as operator.
The transaction is expected to close in Q2, the company said.
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