DTE to buy shale distribution assets in $2.25 billion deal

“DTE Energy DTE, +0.17% said it’s reached a deal to buy the gathering system and gathering pipeline in the Haynesville shale formation of Louisiana for $2.25 billion in cash plus a milestone payment of $400 million” writes European Markets Editor for DTE said the assets, being acquired from Momentum Midstream and Indigo Natural Resources, the primary gas producer supplying the system, include an existing gathering system and a 150-mile gathering pipeline under construction, which will be in service in the second half of 2020. DTE said the deal is immediately $0.15 accretive to operating earnings per share in 2020, growing to $0.45 per share over five years.

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