EnLink Midstream Partners has acquired a 25% stake in EnLink Midstream Holdings (EMH) from EnLink Midstream for about $925m.

EMH owns the assets that Devon Energy contributed to EnLink Midstream in March 2014.

The assets, which include gathering and processing systems in North Texas and Oklahoma, have fixed-fee contracts with minimum volume commitments.

EnLink Midstream Partners’ total stake in EMH is now 75%, with EnLink Midstream holding the remaining 25% interest.

The drop down of the remaining 25% stake in EMH is anticipated to take place later in 2015.

EnLink Midstream president and chief executive officer Barry Davis said: "The transfer of assets, or what is generally called a drop down transaction, is a key component of EnLink Midstream’s strategic growth plan."

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EnLink Midstream was formed through the combination of Crosstex Energy and all of the US midstream assets of Devon Energy.

The company’s assets are situated in several of North America’s oil and gas regions. It has about 8,800 miles of gathering and transportation pipelines, 13 processing plants with 3.4 billion cubic feet per day of net processing capacity, seven fractionators with 252,000 barrels per day of net fractionation capacity.

The company also owns barge and rail terminals, product storage facilities, brine disposal wells, a crude oil trucking fleet and equity investments in several private midstream firms.

EnLink Midstream Partners and EnLink Midstream have recently agreed to acquire Coronado Midstream for about $600m.

Coronado Midstream owns natural gas gathering and processing facilities in the Permian Basin and operates three cryogenic gas processing plants and a gas gathering system in the North Midland Basin.