Plains is acquiring 600 miles of Wyoming crude pipelines, 1.2 million barrels of storage and exposure to growing Powder River production.
Plains Makes $585M Powder River Basin Midstream Acquisition
Plains All American Acquires Ironwood II in $800M Deal to Expand Eagle Ford Footprint
The midstream sector kicked off 2025 with a major acquisition as EnCap Flatrock Midstream (EFM) announced the sale of Ironwood Midstream Energy Partners II (Ironwood II) to Plains All American Pipeline (NYSE: PAA) for over $800 million in cash. The deal, which also includes EFM’s Plains Series A Preferred Units, is set to close in the first quarter of 2025, pending regulatory approvals.