04:06 AM EST, 01/08/2025 (MT Newswires) -- Plains All American Pipeline ( PAA ) and Plains GP Holdings ( PAGP ) said Tuesday they have made three bolt-on acquisitions for about $670 million in cash.

Plains said it agreed to acquire Ironwood Midstream Energy, which owns an Eagle Ford Basin gathering system, from EnCap Flatrock Midstream for about $475 million, in a transaction expected to close in Q1.

A subsidiary of Plains Permian Basin joint venture, Plains Oryx Permian Basin, acquired Medallion Midstream's Delaware Basin crude oil gathering business from The Energy & Minerals Group for about $160 million, effective Jan. 1, the companies said.

A subsidiary of Plains acquired the remaining 50% interest in Midway Pipeline from a subsidiary of CVR Energy for around $90 million, effective Dec. 23, the companies said.

Plains said it also agreed to the purchase of 12.7 million units, or 18%, of its outstanding series A preferred units for $330 million, along with accrued and unpaid distributions, from EnCap Flatrock Midstream in a transaction expected to close in late January.

The interrelated companies said they have also increased their quarterly distribution to $0.38 per unit, up from $0.3175, payable in February.