Ferrellgas to acquire midstream company in $837 million deal

Ferrellgas Partners LP entered an agreement to acquire Bridger Logistics LLC, a Dallas-based company that provides crude oil midstream services, for about $837 million.

The move, expected to close by July 1, positions Ferrellgas to expand its midstream platform. The company established its midstream platform last year with a new division following the acquisition of Sable Environmental LLC.

Bridger owns and operates a variety of midstream assets, including trucks, terminals, pipelines, rail and maritime-related assets. It has operations in 14 states and in several crude oil production regions, including the Bakken, Eagle Ford, Gulf Coast and Permian.

Bridger will continue to operate as an independent entity within Ferrellgas. Julio Rios, Bridger’s president and CEO, will continue to oversee operations, and he will report to Steve Wambold, president and CEO of Ferrellgas.