Plains All American announced on September 16 that it is buying Silver Creek Midstream’s integrated crude oil gathering system in the Powder River Basin for $585 million. The system includes 600 miles of crude oil gathering and transmission pipelines, more than 350 Mb/d of capacity, and 1.2 MMbbl of operational storage. The deal marks a major expansion of Plains’ Rockies crude footprint and a sizable investment in the company’s crude oil infrastructure network. In today’s RBN blog, we look at how the deal could reshape flows around the Powder River Basin and strengthen Plains’ ability to move crude toward the Cushing, OK, storage hub.
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First, let’s offer some history on Silver Creek Midstream. It was founded by J. Patrick Barley in August 2017 to acquire and develop midstream assets in Wyoming and Texas. Headquartered in Irving, TX, the company initially received a $150 million equity commitment from Tailwater Capital LLC and Silver Creek Midstream management. Silver Creek's initial Powder River Basin position came through an acquisition of assets originally built by Outrigger Powder River Operating. Outrigger had developed a crude oil gathering system in the basin, consisting of about 34 miles of gathering lines and approximately 150,000 acres dedicated under long-term, fee-based contracts. Tallgrass Energy Partners acquired Outrigger in August 2017 for $36 million and renamed it Tallgrass Crude Gathering LLC. Tallgrass agreed to sell its 100% interest in it to Silver Creek in February 2018.
As Outrigger built out its gathering system, Genesis Energy built its mainline network into Guernsey, WY, including a connection to Outrigger’s system. The system included the Powder River Crude Services Pipeline (PRCS; green line in Figure 1 below) from Campbell Station to Converse Station, and from there to the Pronghorn Terminal, which connects to the Powder River Express Pipeline (PRE; dark-blue line) south to the Guernsey crude hub. Genesis's infrastructure provided producers with access to Guernsey, regional refinery markets and rail markets, as well as Cushing via the Pony Express Pipeline.
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About the song
“Move in the Right Direction” was written by Frederick Faike, Brian Higgins, Kieran Rhys Jones, Beth Ditto, Jason Resch, and Toby le Messurier Scott, and appears as the fourth song on Gossip’s fifth studio album, A Joyful Noise. The up-tempo dance tune is about overcoming fear and gaining confidence through moving forward. Released as the second single from the LP, it went to #17 on the Billboard Dance Club Singles chart. Personnel on the record were: Beth Ditto (vocals), Hannah Billie (drums, percussion), and Nathan Howeshell (guitar, bass, keyboards, programming).
A Joyful Noise was recorded during 2012 at KBC in Portland, OR, and Xenomania in Kent, England. Produced by Brian Higgins and Gossip, the album was released in May 2012. It went to #20 on the Billboard Top Alternative and #100 on the Billboard 200 Albums charts. Three singles were released from the LP.
Gossip is an American indie rock band formed in Olympia, WA, in 1999 by vocalist Beth Ditto, multi-instrumentalist Nathan Howeshell, and drummer Kathy Mendonca. All three band members were originally from Searcy, AR. The independent record label K Records in Olympia released their debut EP, The Gossip, in July 2000, to coincide with the band getting the opening slot on a tour with Sleater-Kinney. They have released six studio albums, four live albums, two compilation albums, seven EPs, and 12 singles. They have sold more than 10 million records worldwide. Hannah Billie replaced original drummer Kathy Mendonca in 2003. The band split up in 2016, but reunited in 2019. Their latest album was Real Power, produced by Rick Rubin and released in March 2024. Currently, the band is not recording any new material and has no tour dates scheduled.
"About the Song" -- written by Mickey McMahan , RBN Director of Musicology
