Texas billionaire Kelcy Warren is routing two of his pipeline companies into one with this week’s development that Sunoco Logistics Partners, which operates several pipelines that terminate at Marcus Hook, is buying Energy Transfer Partners in a $21 billion stock deal.

“At long last, we have some material simplification in the most complex web of publicly traded partnerships,” Robert W. Baird & Co. Analyst Ethan Bellamy said in a report for The Wall Street Journal by Bradley Olson and Austen Hufford. “This is a major step in untangling the complicated web.”

Warren’s web also includes Energy Transfer Equity, Sunoco, and PennTex Midstream Partners.

Both Sunoco Logistics and Energy Transfer Partners have stakes in the under-construction Dakota Access pipeline originating in North Dakota.

The buyout puts a 10 percent premium on Energy Transfer shares, making them worth $39.29 each. Technically, each of those shares will give shareholders 1.5 Sunoco Logistics shares.

Read more about the Sunoco Logistics deals in The Wall Street Journal here, and check out previous DELCO Today news coverage involving Marcus Hook here.