Energy Transfer LP is adding 3,000 miles of crude gathering and transportation traversing the Permian Basin to Oklahoma in a $1.45 billion deal for Lotus Midstream Operations LLC.

The transaction with an affiliate of EnCap Flatrock Midstream (EFM), set to be completed by mid-year, would include a $900 million cash payment and 44.5 million new Energy Transfer common units. 

Lotus, based in Sugar Land, TX near Houston, owns and operates Centurion Pipeline Co., which provides wellhead gathering, intra-basin transportation, terminalling and long-haul transportation services. 

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