Genesis completes acquisition of Enterprise offshore pipeline and services business

Genesis Energy LP (NYSE: GEL) has completed the acquisition of Enterprise Products Partners LP’s offshore pipeline and services business from Enterprise and its affiliates previously announced on July 16. The purchase price was approximately $1.5 billion.

The Enterprise offshore business serves some of the most active drilling and development regions in the US, including deepwater production fields in the Gulf of Mexico offshore Texas, Louisiana, Mississippi, and Alabama. The Enterprise offshore business assets will complement and substantially expand Genesis’ existing offshore pipelines segment.

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