Western Midstream signs $1.6 billion agreement to expand Permian Basin operations in the United States

This move aims to expand its gathering and processing business footprint in the core area of the Permian Basin in the United States. As part of the transaction, the company will pay approximately $800 million in cash and issue approximately $800 million in common stock. The transaction is expected to be completed in the second quarter. Brazos is one of the largest private gathering and processing platforms in the Delaware Basin, Texas, and holds multiple assets in this oil-rich region. These assets include approximately 900 miles of pipelines and a daily natural gas processing capacity of 460 million cubic feet at the Comanche Processing Center.