Plains Plants Flag in Powder River With $585MM Silver Creek Deal

Plains GP Holdings LP (PAGP) announced Dean Liollio will become EVP & COO on October 2, 2026, replacing Chris Chandler, who is resigning to pursue other interests. Liollio, 67, previously held senior roles at Plains and other energy companies.

Plains All American Pipeline (PAA) appointed Dean Liollio as EVP & COO effective October 2, 2026, replacing Chris Chandler, who resigned to pursue other interests. Liollio, 67, previously held senior roles at Plains and other energy companies. He will receive a $625,000 base salary, 150% bonus target, and 150,000 phantom units vesting in 2029.

Plains All American Pipeline (PAA) and Plains GP Holdings (PAGP) will acquire Powder River Basin assets from Silver Creek Midstream for $585 million. Latham & Watkins LLP advised on the deal, covering various legal aspects.

Raymond James reiterated a Strong Buy rating on Plains All American Pipeline (PAA) with a $27.00 price target. The stock trades at $25.37, near its 52-week high. The firm cited the company's oil focus and solid growth outlook. PAA reported Q2 2026 earnings beating estimates, with adjusted earnings of $0.41 per unit and revenue of $17.69 billion. The stock declined due to increased capital spending and cautious guidance. Mizuho raised its price target to $30.00, maintaining an Outperform rating.

Mizuho raised its price target for Plains All American Pipeline (PAA) to $30.00, citing recent acquisitions and cost savings. The company reported strong Q2 2026 earnings, exceeding estimates, and raised its 2026 growth capital budget. PAA's stock has gained 49.5% year-to-date, with a 6.6% dividend yield.

Plains All American Pipeline and Plains GP Holdings agreed to buy Silver Creek Midstream's Powder River Basin crude oil assets for $585m. The deal includes 600 miles of pipelines, 1.2m barrels of storage, and a 49% interest in a joint venture. Plains expects to expand its footprint and improve connectivity, with the sale expected to close in Q4 2026.