Plains All American is acquiring a 55% stake in EPIC Crude Holdings for $1.57B, boosting pipeline capacity from the Permian and Eagle Ford to Corpus Christi.
HOUSTON — Houston-based Plains All American Pipeline LP (Nasdaq: PAA) — one of the Houston area’s largest publicly traded companies — is buying a major stake in Epic Crude Holdings LP for $1.57 billion, including approximately $600 million of debt.
A wholly owned subsidiary of Plains will acquire a 55% stake in the company, which owns and operates the Epic Crude Oil Pipeline, from subsidiaries of Midland-based Diamondback Energy Inc. (Nasdaq: FANG) and Houston-based Kinetik Holdings Inc. (NYSE: KNTK).
The transaction is expected to be completed by early 2026.
The remaining 45% of Epic Crude Holdings is owned by Epic Midstream Holdings LP, a portfolio company of Ares Management Corp.
Diamondback and Kinetik will each sell their 27.5% stakes in the company for $500 million in net upfront cash and an additional $96 million contingent cash payment due should a capacity expansion of the Epic Crude Oil Pipeline be formally sanctioned by the end of 2027.
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