- DTE Energy (NYSE:DTE) agrees to acquire a gathering system and gathering pipeline in Louisiana's Haynesville shale for $2.25B in cash plus a $400M milestone payment.
- The assets from Momentum Midstream and Indigo Natural Resources, the primary gas producer supplying the system, include an existing gathering system and a 150-mile gathering pipeline under construction, scheduled for service starting in H2 2020.
- The acquired assets are fully contracted with 13.5 years remaining for the existing gathering system and a 10-year contract for the pipeline currently under construction.
- DTE says the deal is $0.15/share accretive to operating earnings per share in 2020, growing to $0.45/share over five years with a strong cash flow profile.