M&A Deal Summary

Plains All American Acquires CVR Energy - Cushing Terminal

On May 21, 2019, Plains All American acquired oil/gas exploration company CVR Energy - Cushing Terminal from CVR Energy for 36M USD

Acquisition Highlights
  • This is Plains All American’s 3rd transaction in the Oil/Gas Exploration sector.
  • This is Plains All American’s 4th largest (disclosed) transaction.
  • This is Plains All American’s 7th transaction in the United States.
  • This is Plains All American’s 3rd transaction in Texas.

M&A Deal Summary
Date 2019-05-21
Target CVR Energy - Cushing Terminal
Sector Oil/Gas Exploration
Buyer(s) Plains All American
Sellers(s) CVR Energy
Deal Type Divestiture
Deal Value 36M USD

Target

CVR Energy - Cushing Terminal

Sugar Land, Texas, United States
CVR Energy, Inc. - Cushing Terminal comprises 1.5-million-barrel Cushing, Oklahoma, a crude oil terminal and related assets.

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Buyer(S) 1

Buyer

Plains All American

Houston, Texas, United States

website

Category Company
Founded 1998
Sector Energy Services and Equipment
Employees4,400
Revenue 42M USD (2021)
DESCRIPTION

Plains All American is a provider of oil pipeline transportation, marketing, and storage business. The company engages in the transportation, storage, terminalling and marketing of crude oil, refined products, and liquefied petroleum gas and other natural gas-related petroleum products. Plains All American was founded in 1998 and is based in Houston, Texas.

DEAL STATS #
Overall 7 of 7
Sector (Oil/Gas Exploration) 3 of 3
Type (Divestiture) 1 of 1
State (Texas) 3 of 3
Country (United States) 7 of 7
Year (2019) 1 of 1
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-13 Advantage Pipeline

Midland, Texas, United States

Advantage Pipeline LLC owns a 70-mile, 16-inch crude oil pipeline located in the southern Delaware Basin.

Buy $133M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-28 Plains All American Pipeline - Milk River Pipeline System

Houston, Texas, United States

Plains All American Pipeline LP's Milk River Pipeline System is a provider of pipeline system for energy industry.

Sell $35M

Seller(S) 1

SELLER

CVR Energy

Sugar Land, Texas, United States

website

Category Company
Founded 1906
Sector Energy Services and Equipment
Employees1,470
Revenue 10.9B USD (2022)
DESCRIPTION

CVR Energy is an independent petroleum refiner and marketer of high value transportation fuels in the Midcontinent United States. CVR Energy was incorporated in 1906 and is headquartered in Sugar Land, Texas.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
Size (of disclosed) 1 of 1
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