Pure-Play Crude — The 2025-2026 Strategic Transformation

This module unpacks the most important strategic story at Plains right now: the simultaneous $3.75 billion sale of the NGL business to Keyera and the $2.9 billion acquisition of EPIC Crude (now Cactus III). Together these moves transform Plains into the premier pure-play crude oil midstream operator, and they're the lens through which every "Why Plains?" answer should be framed in 2026 interviews.