Plains All American Pipeline (PAA) agreed to acquire Silver Creek Midstream’s crude oil assets for $585 million in cash. The acquisition targets gathering and transportation systems located in the Powder River Basin. This deal connects Plains' existing Rockies infrastructure to a major integrated gathering system.
Tailwater Capital and The Energy and Minerals Group are the sellers in the transaction. The purchase includes 600 miles of pipelines. The system maintains an operating capacity of over 350,000 barrels per day. The deal adds 1.2 million barrels of storage capacity.
Long-term agreements covering 915,000 acres support the acquired assets. The transaction is expected to close in the fourth quarter of 2026. Finalization remains subject to regulatory approval.