Sunoco and Energy Transfer form Permian crude gathering JV; Sunoco holds 32.5% stake

Sunoco LP

Joint venture combines Permian crude oil and produced water gathering assets; Sunoco contributes all its Permian crude gathering assets.
JV operates over 5,000 miles of gathering pipelines and more than 11 million barrels of crude storage capacity.
Energy Transfer holds 67.5% interest and will operate the JV; Sunoco holds 32.5%.
Effective July 1, 2024; expected to be immediately accretive to distributable cash flow per LP unit for both.
Energy Transfer's long-haul crude pipelines out of Permian Basin are excluded from the JV.

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