Kirkland Advises EPIC on Sale of EPIC Crude to Plains All American

Kirkland & Ellis advised EPIC Midstream Holdings (EPIC) on the sale of its 45% operated interest in EPIC Crude Holdings, LP (EPIC Crude) to Plains All American Pipeline (NASDAQ: PAA). Plains had already completed the purchase of 55% of EPIC Crude's non-operated interest from Diamondback Energy (NASDAQ: FANG) and Kinetik Holdings, Inc (NYSE: KNTK). EPIC Crude owns long haul crude oil pipelines and associated oil terminal/logistics facilities that serve both the Permian and Eagle Ford basins. The completion of the sale of EPIC Crude marks the third divestiture by EPIC in the last 10 months. The three transactions have collectively driven gross transaction value of approximately $5.25 billion.

Read the transaction press release

The Kirkland team included corporate lawyers Chad Smith, Will Eiland, Bilal Iftikhar, Lyle Paul, Tom Harrigan, Rachel Miller and Nicole Faria; tax lawyers David Wheat and Joe Tobias; and debt finance lawyers Lucas Spivey and Marco Chan.