OREANDA-NEWS. EnLink Midstream will acquire midcontinent pipeline operator Tall Oak Midstream for $1.55bn, the partnerships announced today.

The acquisition gives EnLink Tall Oak's crude, gas processing and gas gathering assets in Oklahoma, including the 100mn ft3/d Chisolm gas processing plant, the 75mn ft3/d Battle Ridge plant and a 42-mile 150mn ft3/d pipeline currently under construction to connect the two facilities.

Tall Oak also holds crude dedications on its gathering system and is building a crude storage and truck unloading facility east of Okarche, Oklahoma.

Enlink was created in a 2014 merger between Crosstex Energy and Devon Energy's midstream assets.

"We are excited about the addition of the oil-focused acreage Devon is acquiring to further expand our STACK position [in central Oklahoma] and pleased with EnLink's acquisition of the associated midstream business," said Devon chief executive Dave Hager. "The oil rich nature of this expanded STACK position gives Devon a significant inventory of development opportunities and aligns well with EnLink's growth strategy."