Energy Transfer to Acquire Lotus Midstream in $1.45 Billion Transaction

Consideration for the transaction will be comprised of $900 million in cash and approximately 44.5 million newly issued Energy Transfer common units. Lotus Midstream owns and operates Centurion Pipeline Company LLC, an integrated, crude midstream platform located in the Permian Basin. The transaction is expected to close in the second quarter of 2023, subject to regulatory approval and customary closing conditions.

The Vinson & Elkins team was led by partner Matt Falcone and senior associate Yong Eoh, with assistance from senior associate Daryne Foote and associate Nina Ramachandran. Other key team members include partner Scott Rubinsky and associate Warner Scott; partners Ryan Carney and David Peck, counsel Peter Rogers and associate Katie Dillard; partners Becky Baker and Sean Becker and associate Peter Goetschel; partner Darren Tucker and senior associate Ryan Will and associate Alex Rant; partner Damien Lyster, senior associate Mike Malenfant and associate Ryan Hoeffner; partner Darin Schultz, senior associate Caitlin Turner and associate Taylor Daily; partner Shane Tucker and associate Kiera Kuntz; partner Matt Dobbins and associate Kelly Rondinelli; counsel Scot Dixon; counsel Rajesh Patel; and partner Sarah Mitchell and associate Victoria Bahrami-Negad.