Plains All American to Acquire Powder River Basin Assets from Silver Creek Midstream
PAA sits 65% above its 52-week low of $15.685.
Summary
Plains All American Pipeline is acquiring Powder River Basin assets from Silver Creek Midstream for approximately $585 million in cash. The assets include more than 350,000 barrels per day of operating capacity and a 49% non-operated interest in the Powder River Gateway JV, including Iron Horse and Powder River Express. The deal follows PAA's recent $3.9 billion Canadian NGL sale and $1.5 billion preferred unit refinancing, signaling continued portfolio optimization toward core crude oil infrastructure. This move aligns with PAA's focus on crude oil segment strength, which drove a 10% YoY increase in Q2 2026 Adjusted EBITDA to $738 million. Investors will watch for integration details and any impact on leverage, which stood at 3.1x after the Canadian divestiture.
At the time of this announcement, PAA was trading at $25.85 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $18.2B. The 52-week trading range was $15.69 to $26.39. This news item was assessed with neutral market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.