HOUSTON – Troutman Pepper Locke represented Silver Creek Midstream Holdings, LLC (Silver Creek), a private midstream company that operates crude oil gathering, transportation, and storage assets in Wyoming, in the sale of its Powder River Basin crude oil midstream assets to a wholly owned subsidiary of Plains All American Pipeline, L.P., and Plains GP Holdings. For more information, see the press release.
The transaction is valued at approximately $585 million in aggregate cash consideration. Silver Creek’s Powder River Basin business includes approximately 600 miles of gathering and transmission pipelines, around 350,000 barrels per day of operating capacity, roughly 1.2 million barrels of operational storage capacity, and a 49 percent non-operated interest in the Powder River Gateway Joint Venture.
The Troutman Pepper Locke team that advised Silver Creek was led by Jennie Simmons and Bill Swanstrom with support from Shannon Schroeder, Jeremy Petersen, Liyoda Ovasapians, Caleb Dunson, Zach Corenblum, Pat Beaton, Elizabeth Corey, Joe Farside, Buddy Sanders, and Jessie Ames.
Troutman Pepper Locke’s market-leading energy practices help clients with their most important and complex matters throughout the U.S. and beyond. From electric power, oil and gas, or emerging technologies, the cross-discipline team is equipped to handle any related matters, drawing on the depth of the firm’s knowledge in the market. Troutman Pepper Locke regularly advises electric utilities, independent power producers, banks, upstream and midstream natural gas companies and service companies, private equity funds, and other large corporations. Learn more at energylawinsights.com.
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