Plains All American and Oryx Midstream Announce Permian Basin Joint Venture
Vinson & Elkins advised Plains All American (“Plains”) in a definitive agreement with Oryx Midstream Holdings LLC (“Oryx”), a portfolio company of Stonepeak Infrastructure Partners, to merge their respective assets, operations and commercial activities within the Permian Basin into a newly formed strategic joint venture, Plains Oryx Permian Basin LLC.
The transaction will include all of Oryx’s Permian assets and, with the exception of Plains’ long-haul pipeline systems and certain of its intra-basin terminal assets, the vast majority of Plains’ assets located within the Permian Basin.
The V&E corporate team was led by partners Doug Bland and Matt Falcone, with assistance from partners Alan Beck and Dave Oelman, senior associates Nettie Downs, Megan Menniti and Caroline Kuehn and associates Brian Broussard, Helen Xiang, Caroline McDonald, Sydney Verner, Erik Slavin and Will White. Also advising were partner John Lynch; partner Darren Tucker and senior associates Ryan Will and Evan Miller; partner Sean Becker, counsel Martin Luff and associate Annie Blanc; partner David D’Alessandro, counsel Dario Mendoza and associate Maddison Riddick; partner David Wicklund, senior associate Caitlin Snelson and associate Frank George; partner Larry Nettles; senior associate Sean Hill; and associate Jimmy Hopper.
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