Crestwood Equity Partners LP
CEQP-P
New York Stock Exchange9.75
USD
+0.01
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Crestwood Equity Partners LP
CEQP-P
(New York Stock Exchange)
Recent
price
9.75
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Crestwood Equity Partners LP was a master limited partnership engaged in the energy midstream sector within the United States, operating comprehensive infrastructure assets that have since been integrated into Energy Transfer LP. Historically, Crestwood managed facilities for the gathering, processing, and treatment of natural gas, crude oil, and produced water, alongside solutions for natural gas liquids (NGLs), crude oil, and natural gas storage, terminal services, marketing, and transportation. Its operations were structured across segments focused on gathering and processing in the northern U.S., particularly within the Williston and Powder River basins, and southern regions including the Delaware Basin. Additionally, a segment handled storage and logistics for various energy products, facilitating their movement via pipelines, rail, and trucks to diverse customers such as producers, refiners, and marketers. The company's extensive network included substantial capacities, such as approximately 2.0 billion cubic feet per day for gas gathering, 1.4 billion cubic feet per day for gas processing, and 340 thousand barrels per day for crude gathering, alongside roughly 10 million barrels of storage capacity. In late 2023, Energy Transfer LP completed the acquisition of Crestwood Equity Partners in an all-equity transaction valued at approximately $7.1 billion, encompassing the assumption of $3.3 billion of debt. This strategic move aimed to broaden Energy Transfer's presence in the Williston and Delaware basins and establish an entry into the Powder River Basin, complementing its existing downstream processing and export capabilities. As a result of this merger, Crestwood Equity Partners LP, originally incorporated in 2001 and headquartered in Houston, Texas, ceased independent operations, with its common units delisted in early 2024. The former Crestwood common unitholders became owners of approximately 6.5% of Energy Transfer's outstanding common units.