Plains to Acquire Majority Stake in EPIC Crude Pipeline for $1.57 Billion

Plains All American will acquire a 55% stake in the 800-mile EPIC Crude Pipeline for $1.57 billion, expanding its Permian and Eagle Ford network to Corpus Christi and boosting its Gulf Coast export position.

(P&GJ) — Plains All American Pipeline has agreed to acquire a 55% non-operated interest in EPIC Crude Holdings, LP, the owner of the EPIC Crude Oil Pipeline, in a transaction valued at $1.57 billion, including about $600 million in debt.

The stake is being purchased from subsidiaries of Diamondback Energy and Kinetik Holdings, while the remaining 45% interest will continue to be held and operated by a portfolio company of Ares Management Corporation.

The EPIC Pipeline spans 800 miles from the Permian and Eagle Ford basins to Corpus Christi, with a current capacity exceeding 600,000 barrels per day, 7 million barrels of storage, and 200,000 bpd of export capacity. Plains also agreed to a potential $193 million earn-out if capacity is expanded to 900,000 bpd by 2027.

“This transaction strengthens our position as the premier crude oil midstream provider, complements our asset footprint and enhances our customer offering,” said Willie Chiang, Chairman, CEO and President of Plains.

The deal is expected to be immediately accretive to cash flow, supported by long-term minimum volume commitments. Plains said the acquisition aligns with its “wellhead to water” strategy in the Permian and Eagle Ford. Closing is anticipated by early 2026, pending regulatory approvals.