Sunoco LP (SUN): M&A transaction — 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.

item 1.01 item 2.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.7

Sunoco LP completed a disposition involving joint venture (Energy Transfer LP) (closed 2024-07-16).

Action: disposition
Counterparty: joint venture (Energy Transfer LP)
Closing: 2024-07-16

Exact text from the filing

On July 16, 2024, Sunoco LP ("Sunoco" or the "Partnership") and Energy Transfer LP ("Energy Transfer") announced the formation of a joint venture combining their respective crude oil and produced water gathering assets in the Permian Basin.

View on SEC.gov

1 m&a transactions filed in the last 30 days. Browse all m&a transactions →

Sunoco LP filing history →

Source: SEC EDGAR

accession 0001552275-24-000039

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.