Plains All American acquires midstream energy companies for $670M, boosting crude oil operations and distribution.

Plains All American, an energy infrastructure company, has announced acquisitions worth $670 million, including Ironwood Midstream Energy, Medallion Midstream, and a stake in Midway Pipeline LLC. These deals expand Plains' crude oil operations in key regions and increase its annual distribution rate by 20%. Additionally, Plains will buy 18% of its Series A Preferred Units for $330 million, aiming to improve its financial flexibility and leverage ratio.

3 months ago
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