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DTE Energy Unit Acquires Midstream Assets In Haynesville Shale Basin

DTE Midstream, a unit of DTE Energy (DTE), has agreed to acquire a gathering system and gathering pipeline in the Haynesville shale formation of Louisiana from Momentum Midstream and Indigo Natural Resources for a purchase price of $2.25 billion, plus a $400 million milestone payment. DTE anticipates the transaction, at a project level, to be immediately $0.15 accretive to operating earnings per share in 2020, growing to $0.45 per share over five years.

Jerry Norcia, CEO of DTE Energy, said: "This acquisition significantly enhances the strength and diversity of DTE Midstream, adding premium assets in one of the fastest growing and best positioned U.S. shale formations. The company gains a strong commercial partner in Indigo, one of the nation's largest private natural gas producers supplying the rapidly growing demand in the Gulf Coast region."

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