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Thursday, Oct 10
Crestwood Midstream in $750M expansion of Bakken footprint
- Crestwood Midstream Partners (CMLP) agrees to acquire privately held Arrow Midstream Holdings for $750M to tap demand for pipeline and storage services in the Bakken shale field.
- CMLP expects the transaction to be immediately accretive to estimated distributable cash flow per unit in 2014.
- CMLP says the deal will make it one of the largest Bakken midstream service providers, servicing ~18% of current total Bakken crude oil production.