Energy Transfer Will Hold A 67.5% Interest With Sunoco Holding A 32.5% Interest In New Joint Venture Combining Their Respective Crude Oil And Produced Water Gathering Assets In The Permian Basin
Portfolio Pulse from Benzinga Newsdesk
Energy Transfer LP (NYSE:ET) and Sunoco LP (NYSE:SUN) have announced a joint venture combining their crude oil and produced water gathering assets in the Permian Basin. Energy Transfer will hold a 67.5% interest and serve as the operator, while Sunoco will hold a 32.5% interest.
July 16, 2024 | 1:27 pm
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POSITIVE IMPACT
Energy Transfer LP (NYSE:ET) will hold a 67.5% interest and serve as the operator in a new joint venture with Sunoco, combining their crude oil and produced water gathering assets in the Permian Basin.
Energy Transfer's significant stake and operational control in the joint venture is likely to enhance its asset base and operational efficiency, positively impacting its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Sunoco LP (NYSE:SUN) will hold a 32.5% interest in a new joint venture with Energy Transfer, combining their crude oil and produced water gathering assets in the Permian Basin.
Sunoco's participation in the joint venture will likely enhance its asset portfolio and operational reach, which could positively impact its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100