Delek Logistics announces $285M acquisition of Gravity Water, AGI project, and acreage expansion

Delek Logistics Partners, LP

Acquires Gravity Water Midstream for $285M ($200M cash + $85M in DKL common units), expected close early 2025.
EBITDA multiple below 5.5x; immediately accretive to free cash flow, EBITDA, and leverage.
Final investment decision on acid gas injection (AGI) at Libby 2 plant in Permian, targeted second half 2025.
Secured additional ~34,000 acre dedication in Midland Basin, total ~400,000 acres; supports Delek Permian Gathering System.
DKL has >$700M liquidity to pursue growth without external capital.

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