---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-002217"
form_type: "8-K"
ticker: "PAGP"
cik: "0001581990"
company_name: "PLAINS GP HOLDINGS LP"
filed_at: "2025-01-10T23:59:59+00:00"
generated_at: "2026-05-28T04:59:12.041227+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Plains GP Holdings announces $670M bolt-on acquisitions, 18% preferred unit buyback, 20% distribution increase

## Summary
- Acquired Ironwood Midstream (Eagle Ford gathering) from EnCap Flatrock for ~$475M; expected close Q1 2025.
- Plains Oryx JV acquired Medallion Midstream's Delaware Basin crude gathering for $160M ($105M net to PAA).
- Acquired remaining 50% of Midway Pipeline from CVR Energy for $90M on Dec 23, 2024.
- Agreed to purchase ~12.7M Series A Preferred Units (18%) at $26.25/unit for ~$330M from EnCap Flatrock; close late Jan 2025.
- Quarterly distribution increased from $0.3175 to $0.38/unit (20% annualized), payable Feb 2025.

## SEC filing metadata
- accession: 0001104659-25-002217
- form_type: 8-K
- ticker: PAGP
- cik: 0001581990
- company_name: PLAINS GP HOLDINGS LP
- filed_at: 2025-01-10T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1581990/000110465925002217/0001104659-25-002217-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1581990/000110465925002217/tm252841d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-002217
- JSON: https://secwatch.observer/filing/0001104659-25-002217.json
- Plain text: https://secwatch.observer/filing/0001104659-25-002217.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.