Sept 2 (Reuters) - Plains All American Pipeline ( PAA )

and Plains GP Holdings ( PAGP ) on Tuesday said it has agreed to

buy a 55% stake in pipeline operator EPIC Crude Holdings from

units of Diamondback Energy ( FANG ) and Kinetik Holdings for

$1.57 billion, including debt.

Reuters in August reported the owners of the pipeline were

looking for a sale, according to sources familiar with the

matter.

EPIC Crude is one of the major pipelines that brings oil

from the Permian and Eagle Ford shale basins of Texas to export

facilities on the U.S. Gulf Coast.

It has a capacity of 600,000 barrels per day (bpd), which is

expandable up to 1 million bpd, and has around 7 million barrels

of operational storage.

The transaction is expected to be completed by early 2026.