In January, SemGroup formed a joint venture with KKR to create a Canadian midstream infrastructure company, SemCAMS Midstream, which then acquired Meritage Midstream and its infrastructure for $449 million. SemCAMS operates more than 700 mi of natural gas gathering and transportation pipelines. "The combined entity's size, scale, and financial profile will ensure that SemGroup's assets benefit from significant growth well into the future. We look forward to leveraging the increased pipeline connectivity and expanded terminaling infrastructure that the combined entity provides," SemGroup CEO Carlin Conner said in a statement. Energy Transfer said the combined company expects to generate more than $170 million in annual run-rate synergies, including $50 million in financial savings and $40 million in cost savings.