After testing the waters with a joint venture in Midland, Texas, Newtown Square’s Sunoco Logistics Partners is going all in on the prospects for rich, shale-oil deposits there.

Sunoco Logistics has struck a deal to buy out Vitol Group from its SunVit Pipeline joint venture and spend more than $760 million working capital on Vitol’s two-million-barrel crude-oil terminal, pipeline system, and crude-oil inventory in Midland, according to a Philadelphia Business Journal report by Olivia Pulsinelli.

“The addition of the Vitol system is an excellent synergistic fit to our growing crude platform in the Permian Basin,” said Sunoco Logistics President and CEO Michael Hennigan. “The Permian Basin is the most prolific of all of the U.S. shale areas, with strong growth expectations. The Vitol pipeline assets are located in what we believe are the three best counties in the Midland Basin.”

The deal is expected to close in the fourth quarter.

The Delaware County company already has an extensive network of pipelines that crisscross much of Texas.

“Sunoco Logistics has a strong strategic position in West Texas, and we are confident that they will provide excellent service to customers of the Vitol system,” said Mike Loya of Vitol Americas.

Read more about the acquisition in the Philadelphia Business Journal here.