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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

By ALLISON COLLINS
December 13, 2012

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. 

 

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