Delek Logistics Partners, Lp Announces Acquisition Of 3Bear Energy Increasing Its Prominent Position In The Permian Basin
Acquiring Company
Delek Logistics Partners
Acquired Company
3Bear Energy
BrentwoodEnergyOil And GasNatural ResourcesTransportationLogisticsDescription
Delek Logistics Partners, LP (NYSE: DKL) announced today that one of its subsidiaries has signed a definitive purchase agreement for the acquisition of 100% of the equity interests of 3Bear Delaware Holding – NM, LLC, an indirect subsidiary of 3Bear Energy, LLC ("3Bear"), related to 3Bear's crude oil and gas gathering, processing and transportation businesses, as well as water disposal and recycling operations in the Delaware Basin in New Mexico, for cash consideration of $624.7 million, subject to customary closing adjustments. Delek Logistics is executing the transaction through a newly formed, wholly owned subsidiary, DKL Delaware Gathering, LLC. The acquisition is expected to result in an investment multiple of approximately 6.25 times 2023 EBITDA.
Quick answer
Delek Logistics Partners is acquiring 3Bear Energy, announced April 11, 2022. Delek Logistics Partners is based in Brentwood, Tennessee, United States.
- How much did Delek Logistics Partners pay for 3Bear Energy?
- The deal value was not disclosed.
- What does Delek Logistics Partners do?
- Delek Logistics Partners, LP is a master limited partnership that focuses on logistics and transportation of petroleum products, specifically crude oil and refined products.
- Where are Delek Logistics Partners and 3Bear Energy based?
- Delek Logistics Partners is based in Brentwood, Tennessee, United States.
Source: Fundz verified event record.
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Frequently asked
Who acquired 3Bear Energy?
3Bear Energy was acquired by Delek Logistics Partners, based in Brentwood. The deal was reported on April 11, 2022. Delek Logistics Partners, LP is a master limited partnership that focuses on logistics and transportation of petroleum products, specifically crude oil and refined products. Delek Logistics Partners is publicly traded (DKL) and operates in Energy.
When did Delek Logistics Partners acquire 3Bear Energy?
Delek Logistics Partners's acquisition of 3Bear Energy was reported on April 11, 2022. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does 3Bear Energy do?
3Bear Energy is the company acquired in this transaction. It is privately held.
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