September 2, 2025 — Leads & Copy — Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) have announced that a subsidiary has entered into an agreement to acquire a 55% non-operated interest in EPIC Crude Holdings, LP, owner of the EPIC Crude Oil Pipeline, from Diamondback Energy, Inc. and Kinetik Holdings Inc.
The transaction is valued at approximately $1.57 billion, including about $600 million of debt. Plains also agreed to a potential $193 million earnout payment if the pipeline expands to 900,000 barrels per day by the end of 2027. The remaining 45% interest in EPIC Crude Holdings is owned by an Ares Management Corporation portfolio company, which also operates the pipeline.
The EPIC Pipeline transports crude oil from the Permian and Eagle Ford basins to Corpus Christi. Its assets include approximately 800 miles of pipelines, operating capacity of over 600,000 barrels per day, about 7 million barrels of storage, and over 200,000 barrels per day of export capacity.
The acquisition is expected to immediately increase distributable cash flow and offer synergistic opportunities. The deal is expected to close by early 2026, pending customary conditions.
According to Willie Chiang, Chairman, CEO and President, the acquisition strengthens Plains’ position as a crude oil midstream provider and enhances customer offerings.
Investor Relations Contacts:
Blake Fernandez
Michael Gladstein
PlainsIR@plains.com
(866) 809-1291
Source: Plains All American Pipeline, L.P.
