The transaction grants Plains ownership of approximately 600 miles of gathering and transmission pipelines, bolstering its network with an operating capacity exceeding 350,000 barrels per day. The package also includes 1.2 million barrels of storage capacity and a 49% non-operated interest in the Powder River Gateway joint venture. By integrating these systems, Plains establishes a direct link between Silver Creek’s gathering infrastructure and its own existing hubs at Guernsey and Fort Laramie. The assets are currently owned by management alongside private-equity firms Tailwater Capital and Energy & Minerals Group.
Plains All American Pipeline to Acquire Silver Creek Assets for $585 Million
Plains All American Pipeline and its parent company, Plains GP Holdings, are expanding their footprint in the Rockies with a $585 million cash acquisition of Silver Creek Midstream’s crude oil assets. The deal secures control over a critical midstream network in the Powder River Basin currently held by private-equity backers.
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