Laredo Petroleum and The Energy
& Minerals Group agreed to sell the
largest privately held crude transportation
system in the Midland Basin for $1.825
billion in cash to energy investor
Global Infrastructure Partners.
While the price for Medallion
Gathering & Processing makes it the
largest Permian Basin crude pipeline
deal of 2017 to date, analysts such as
Williams Capital Group, L.P. and Raymond
James expressed disappointment that
the price wasn’t higher and wondered if
the value of other transactions would be
similarly diminished.
Laredo, which owned 49% of
Medallion, expects......
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