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Enlink Midstream Partners acquired Victoria Express Pipeline, another pipeline company in the Eagle Ford Shale, in a transaction worth up to $220 million.For Dallas-based Enlink (NYSE: ENLK), it’s the first of many anticipated drop-down acquisitions from Devon Energy (NYSE: DVN), it’s exploration and production partner.

The deal, which includes $171 million in cash, is expected to close April 1.

“We expect transactions like this to play a significant role in our future growth,” Barry Davis, president and CEO of Enlink, said in a press release. “These assets will give Enlink a tremendous growth platform in the Eagle Ford Shale.”

enlinkIt includes a 56-mile crude oil pipeline with associated infrastructure at the Port of Victoria. It also includes a condensate pipeline from the Eagle Ford Shale to Victoria.

Enlink will spend another $30 million to $40 million to expand the pipeline facilities at Cuero in the Eagle Ford Shale.

Oklahoma City-based Devon and Enlink announced a partnership last year where Devon would drop down its midstream assets over the course of a few years.

At the time, Enlink was known as Crosstex Energy but changed its name as part of the transaction.

This comes two months after Enlink acquired LPC Crude Oil Marketing in the Permian Basin, a deal worth $100 million.

While oil service companies and exploration and production companies struggle with collapsing oil prices, midstream companies such as Enlink fair much better because the majority of their revenue is fee-based. That means they get paid for transporting oil and gas regardless of the commodity price.

If production actually slows down later this year, midstream companies could take a hit but it’s more of a delayed reaction compared to what’s happening other sectors.

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