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EnCap Flatrock Midstream is considering selling Momentum Midstream, which could fetch over $5 billion. The firm is collaborating with financial advisers to identify potential buyers, including competitors and private equity firms.

Discussions are preliminary, and EnCap may opt to retain the asset. Momentum Midstream has a significant presence, operating 4,000 miles of pipeline and servicing 10 LNG facilities and 26 power plants. A successful deal would represent one of the largest in the midstream sector since Brookfield Infrastructure's $9 billion acquisition of Colonial Enterprises last year.