Plains All American Pipeline LP（PAA）资讯与事件PAAPlains All American Pipeline LP

Plains Appoints Dean Liollio as Executive VP and COO

Plains All American Pipeline (PAA) and Plains GP Holdings (PAGP) announced that Dean Liollio has been appointed to serve as executive VP and COO of Plains effective as of October 2. Liollio replaces Chris Chandler, the current executive VP and COO, who is resigning from Plains to pursue other interests and not due to any disagreement relating to the company's operations, policies or practices. Liollio served as senior VP, Special Projects, of Plains from June 2024 until his appointment as executive VP and COO this October. He previously served as President of Plains Midstream Canada from 2020 until 2024, as President of PAA Natural Gas Storage from 2008 until 2020 and as President of Plains Gas Solutions from 2016 until 2020.

Plains All American Acquires Silver Creek for Approximately $585M

Plains All American Pipeline announced that a wholly owned subsidiary has entered into a definitive agreement to acquire SCM PR II, or Silver Creek, from subsidiaries of Tailwater Capital and The Energy and Minerals Group for an aggregate cash consideration of approximately $585M. Silver Creek owns and operates one of the largest integrated crude oil gathering systems in the Powder River Basin, serving a diversified customer base that includes many of the basin's leading producers. The system provides customers with access to Plains' existing Rockies infrastructure through the Guernsey and Fort Laramie hubs. The acquired assets include approximately 600 miles of crude oil gathering and transmission pipelines, more than 350,000 barrels per day of operating capacity, approximately 1.2M barrels of operational storage capacity, and 49% non-operated interest in Powder River Gateway, including Iron Horse and Powder River Express. The acquisition expands Plains' Powder River Basin footprint and increases direct connectivity to producer supply in an area supported by more than 20 years of remaining drilling locations at current activity levels, with continued production growth expected over the next several years. It enhances producer access to Plains' integrated transportation network, including additional upstream gathering and transmission capabilities in the Powder River Basin and connectivity to Plains' long-haul assets that deliver crude oil volumes to Cushing. It strengthens Plains' Rockies franchise by adding a gathering system supported by a diversified portfolio of high-quality customers, 915,000 dedicated acres across long-term acreage dedications and minimum volume commitments, and a weighted-average contract tenor of more than eight years. The transaction creates commercial and operational opportunities for growth with approximately 125,000 barrels per day of current throughput and an integrated platform that is expected to drive synergies and enhance Plains' long-term earnings and cash flow. The transaction is expected to close in the fourth quarter, subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

Cactus Reports Q2 Revenue of $17.69B, Beating Expectations

Reports Q2 revenue $17.69B, consensus $12.72B. "Strong results in the quarter mark a significant improvement from first quarter levels and place us on-track to deliver on our full-year Adjusted EBITDA guidance. Year-to-date we are on pace to accomplish all three key initiatives outlined for 2026. In May, we successfully closed on the sale of our Canadian NGL business, completing a transition to a premier pure play crude oil midstream provider. Proceeds from the NGL sale were used to bring our leverage ratio back within our established target range. Cactus III synergies have been captured and we are now seeing additional upside potential from expanding the capacity of the pipeline by 75 Mbbl/d. Finally, we remain on-track to capture streamlining efficiencies throughout the organization this year. The combination of these key initiatives along with contributions from new organic investment opportunities and Permian volume growth provides momentum for the organization heading into 2027. The oil macro environment remains volatile but our well positioned asset footprint, integrated business model, and commercial relationships position us well to capture opportunities across our portfolio," said Willie Chiang, Chairman, CEO and President.