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Delek Logistics ( (DKL) ) has shared an update.
Delek Logistics Partners, LP secured a significant expansion in the Delaware Basin through the acquisition of H2O Midstream for $230 million, enhancing their portfolio with water disposal and recycling operations. The purchase, completed on September 11, 2024, was financed with a mix of cash and convertible preferred equity, highlighting Delek’s strategic move to bolster its full-service midstream offerings to both existing and new customers in the Permian Basin. This transaction is anticipated to unlock cost synergies and additional sales opportunities, reinforcing Delek’s position in the competitive energy market.
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