Navitas acquires Midland Basin gathering and processing assets

Navitas Midstream Partners LLC has acquired natural gas gathering and processing assets serving Martin, Midland, and Glasscock counties in Texas from a subsidiary of DCP Midstream LLC.

The assets acquired include approximately 1,000 miles of low and high pressure natural gas gathering pipelines and a cryogenic processing plant, which has capacity in excess of 60 million cubic feet per day.

The acquisition was financed with equity from Warburg Pincus, Navitas' private equity sponsor.

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