Enterprise Products Partners L.P. (NYSE:EPD) acquired additional 19% stake in Piñon Midstream, LLC from Matador Resources Company (NYSE:MTDR) for $113 million on October 28, 2024. A cash consideration of $113 million will be paid by Enterprise Products Partners L.P. As part of consideration, $113 million is paid towards common equity of Piñon Midstream, LLC.
Matador plan to use the approximate $113 million in sales proceeds to pay down our $980 million in current outstanding borrowings under our $2.25 billion credit facility.

Enterprise Products Partners L.P. (NYSE:EPD) completed the acquisition of additional 19% stake in Piñon Midstream, LLC from Matador Resources Company (NYSE:MTDR) on October 28, 2024.