Cardinal Midstream Partners and EnCap Flatrock Announce Sale of Delaware Basin Assets to San Mateo Midstream for $752 Million

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DALLAS--(BUSINESS WIRE)--Cardinal Midstream Partners, LLC (the “Company” or “Cardinal”), an independent midstream energy company, today announced that the Company and its financial sponsor EnCap Flatrock Midstream (“EnCap Flatrock”) have entered into a definitive agreement to sell its wholly owned subsidiaries Cardinal Delaware Basin, LLC and Cardinal New Mexico, LLC to San Mateo Midstream, LLC (“San Mateo”) for $752 million. The transaction is expected to close in the third quarter of 2026, su