Quantcast

Today's Transactions:
Plains Buys Oil Assets for $125M, Latest in Long Streak of Energy Deals

The crude oil assets are in the Eagle Ford area of South Texas

Plains All American Pipeline LP (NYSE: PAA) has acquired crude oil and gathering assets in the Eagle Ford area of South Texas for $125 million.

The assets were owned by a subsidiary of Chesapeake Energy Corp. (NYSE: CHK)

Plains bought 40 miles of crude oil gathering pipelines. The company owns a network of about 18,000 miles of pipelines.

On Dec. 5, Plains purchased four crude oil rail terminals for about $500 million. 

Chesapeake sold off subsidiary Chesapeake Midstream Operating LLC for $2.16 billion in cash to Access Midstream Partners LP in a deal announced Dec. 12. 

 

For more information on related topics, visit the following: