Oil Majors Acquire Pipelines and Mature Assets Amid Elevated Prices

NEW YORK, Sept. 11, 2026 /CourierPR/ -- The oil market is shifting focus as prices remain elevated, with companies prioritizing infrastructure and mature producing assets over new drilling. This week, several major acquisitions and developments highlight the new direction of investment in the sector.

Enbridge Inc., a leading North American crude oil transportation company, announced its plans to acquire the crude oil business of Tallgrass Energy, LP, for approximately US$2.55 billion. The deal includes a 75% equity interest in the Pony Express Pipeline, a 1,050-mile system that can transport about 460,000 barrels per day from the Rockies to the Cushing, Oklahoma hub. Additionally, the acquisition includes a 51% interest in the Powder River Gateway system, which provides about 8.4 million barrels of storage capacity across nine crude terminals, along with Stanchion Energy, a crude marketing business. Enbridge expects the transaction to be accretive to distributable cash flow per share in the first full year of ownership.

The Williams Companies, Inc. completed its acquisition of Momentum Midstream, a completed gathering platform with approximately 6 billion cubic feet per day of capacity in the Haynesville shale. This move underscores the strategy of acquiring existing infrastructure rather than building new facilities, which can take years to come online. The acquisition supports the company’s goal of adding a significant volume of gas capacity within pipeline reach of U.S. LNG export capacity, even as seaborne crude faces potential disruptions.

Diversified Energy Company plc announced its largest acquisition to date, a US$1.8 billion deal to acquire Birch Permian Holdings, Inc., a mature producing asset in the Permian Basin. Birch produces about 68,000 barrels of oil equivalent per day, with a mix of oil, natural gas liquids, and natural gas. This acquisition is expected to increase Diversified’s production by approximately 35% and its adjusted EBITDA by about 55%. The transaction also includes a strategic partnership with Carlyle, expanding the scope of potential acquisitions to up to US$10 billion over time.

Tamarack Valley Energy Ltd. and Headwater Exploration Inc. announced a strategic combination in an all-stock transaction valued at US$10 billion, creating a single publicly traded entity focused on the Clearwater play. Headwater shareholders will receive one Tamarack common share for each Headwater share, with Tamarack issuing 237.8 million shares in total. Following the deal, Tamarack shareholders will own 66.5% of the combined company, while Headwater shareholders will hold 33.5%. Tamarack also plans to increase its quarterly dividend by 20%, from $0.05 to $0.06 per share, effective from December 2026.

These acquisitions reflect a broader trend in the oil industry, where companies are prioritizing infrastructure and mature assets over new exploration. The persistent risk of delivery disruptions, particularly in regions like the Strait of Hormuz, is driving investment towards existing barrels and pipelines. The strategy is seen as more defensible given the market's current premium on delivery risk, even as forecasters predict a stabilization in prices by 2027.

Despite the market's focus on established assets, regulatory approvals and timelines remain uncertain, and the deals are not yet closed. The market's future direction will depend on how these transactions proceed and whether the current risk premium holds.