Plains All American will acquire Silver Creek Midstream’s Powder River basin crude oil assets for approximately $585 million, adding about 600 miles of pipelines with 350,000 bpd of operating capacity.
Plains All American Pipeline will acquire Silver Creek Midstream’s Powder River Basin crude oil assets in Wyoming for approximately $585 million in cash, expanding Plains’ midstream presence in the basin.
The assets include approximately 600 miles of crude oil gathering and transmission pipelines with 350,000 bpd of operating capacity and 1.2 million barrels of operational storage capacity. Silver Creek also holds a 49% non-operated interest in the Powder River Gateway Joint Venture.
The system is supported by approximately 915,000 dedicated acres under long-term agreements and minimum volume commitments, with an average remaining contract term of more than eight years. It provides connections to key regional transportation hubs at Guernsey and Fort Laramie.
Silver Creek currently manages the gathering and transportation of approximately 125,000 bpd of crude oil across the Powder River basin.
“This transaction reflects the quality of the scaled midstream platform that Silver Creek has built in the Powder River basin, supported by strong customer relationships and critical connectivity across the region,” said Jason Downie, co-founder and managing partner of Tailwater Capital.
Plains will acquire the assets through a wholly owned subsidiary by purchasing SCM PR II LLC, the parent company of Silver Creek’s Powder River Basin operations. SCM PR II is owned by subsidiaries of Tailwater Capital, The Energy & Minerals Group and Silver Creek management.
The transaction is expected to close in the fourth quarter of 2026, subject to regulatory approvals and other customary closing conditions.
