Targa to Buy Permian Gas Processor From Goldman, Riverstone
- Pipeline owner to acquire Lucid Energy for $3.55 billion
- Natural gas prices have soared amid a global supply shortage
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Targa Resources Corp. has agreed to buy Permian natural gas processor Lucid Energy Delaware LLC from Riverstone Holdings LLC and Goldman Sachs Asset Management for $3.55 billion in cash.
Lucid provides gas gathering, treating and processing services in the Permian’s Delaware Basin. The deal is expected to close in the third quarter, pending regulatory approval, Targa said Thursday in a statement.