EnCap Flatrock Midstream completes two transactions with Plains All American
Published by Alfred Hamer,
Editorial Assistant
World Pipelines,
EnCap Flatrock Midstream (EFM) has announced the execution of two separate definitive agreements to sell Ironwood Midstream Energy Partners II, LLC and all EFM-owned and outstanding Plains Series A Preferred Units to Plains All American, L.P for over US$800 million in cash. The transactions are expected to close in the 1Q25, subject to customary closing conditions, including regulatory approvals.
“This is an exciting time for the midstream industry, and we’re grateful for the opportunity to monetise our midstream investments and unlock value for our investors,” said EFM Managing Partner Gregory C. King. “Our focus every day is to be good partners, good stewards of our investors’ capital, and build great assets. We look forward to continuing to execute on that vision as we look ahead to the remainder of this year and beyond.”
Headquartered in San Antonio, Ironwood II is a premier crude oil gathering and transportation system with an expansive footprint servicing a diverse set of upstream customers operating in the Eagle Ford shale region of South Texas. The Company partnered with EFM in 2019 to pursue an Eagle Ford-focused consolidation strategy, and thanks to Ironwood II’s exceptional team, executed on that strategy to become a best-in-class midstream provider in South Texas.
Read the article online at: https://www.worldpipelines.com/business-news/08012025/encap-flatrock-midstream-completes-two-transactions-with-plains-all-american/
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