Tailwater-backed Silver Creek sells Powder River Basin assets to Plains All American for USD 585 million
PAA•Silver Creek agrees to sell Powder River Basin midstream assets
Tailwater Capital-backed Silver Creek Midstream agreed to sell its Powder River Basin crude oil midstream assets to Plains All American.
The transaction is valued at about USD 585 million in cash via the sale of SCM PR II.
The assets include about 600 miles of pipelines, 350,000 bbl/d capacity and 1.2 million barrels of storage.
Silver Creek also holds a 49% non-operated interest in the Powder River Gateway joint venture.
Closing is targeted for the fourth quarter of 2026, subject to regulatory approvals and customary conditions.
