On March 24, 2026, Plains All American Pipeline, L.P (Plains), on behalf of Cactus III Pipeline (Cactus III), requested Federal Energy Regulatory Commission's approval of proposed accounting for Plains? acquisition of 100% membership interest in EPIC Crude Holdings, LP, which owns Cactus III, from subsidiaries of Diamondback Energy Inc. and Kinetik Holdings Inc. Plains proposes to record the assets at their fair market value on Cactus III?s books, consistent with Carrier Property Instruction 3-11(b) and (c). The filing was noticed on March 25, 2026, with no protests.
Based on Plains? representations, the proposed accounting is approved. The Commission delegated authority to act on this matter to the Director of the Office of Enforcement and Regulatory Accounting or a designee under 18 C.F.R §375.311 (2025).
The Director has designated this authority to the Chief Accountant. This letter order constitutes final agency action. Requests for rehearing by the Commission may be filed within 30 days of the date of this order, pursuant to 18 C.F.R §385.713.
