Crestwood Acquires Arrow Midstream For $750 Million, Grows In Bakken

Abstract

On the heels of an $8 billion merger, Crestwood Midstream Partners LP announced on October 10 that it is buying Arrow Midstream Holdings LLC for $750 million. The acquisition follows Crestwood's merger with Inergy Midstream, which was completed on October 7 as Crestwood focuses on liquids through expansion of operations in the Bakken. Robert G. Phillips, chairman, president and CEO of Crestwood's general partner said the early efforts by Crestwood and Inergy to integrate commercial, operations and back-office teams in advance of their merger make the additional Arrow assets and operations effectively a bolton acquisition.