Press Release: EFM : Lotus Midstream and EnCap Flatrock Midstream Agree to Sell Lotus Midstream to Energy Transfer for $1.45 Billion

SAN ANTONIO & SUGAR LAND, Texas--(BUSINESS WIRE)--Lotus Midstream ("the Company") and its financial sponsor EnCap Flatrock Midstream ("EnCap Flatrock") today announced they have signed a definitive agreement to sell Lotus Midstream to Energy Transfer LP (NYSE: ET) for approximately $1.45 billion. The transaction is expected to close in the second quarter of 2023, subject to regulatory approval and customary closing conditions. Located in Sugar Land, Texas, Lotus Midstream is a premier crude oil