EPIC Midstream Holdings sold its 45% interest in EPIC Crude Holdings to Plains All American Pipeline, enhancing Plains' operational footprint in key oil-producing basins.

Information on the Target

EPIC Crude Holdings, LP (EPIC Crude) is a significant player in the crude oil transportation and logistics sector, primarily focusing on long-haul crude oil pipelines and associated terminal facilities. The company operates strategically important infrastructure that serves both the Permian Basin and the Eagle Ford Basin, which are two of the most prolific oil-producing regions in the United States. EPIC Midstream Holdings holds a 45% operated interest in EPIC Crude, making it a vital participant in the crude oil supply chain.

The sale of this interest to Plains All American Pipeline (NASDAQ: PAA) represents a key component of the ongoing consolidation within the energy sector, particularly in infrastructure that facilitates the transport of crude oil. This move not only enhances Plains' already established interests in crude oil logistics but also aligns with their strategic goal of expanding operational capabilities in vital basins.

Industry Overview in the Target’s Specific Country

The crude oil industry in the United States is characterized by significant extraction and production activities, particularly in areas such as Texas and New Mexico, with the Permian and Eagle Ford b