Sources: $3 billion sale of US Gulf Coast pipeline being explored

The owners of the EPIC Crude pipeline are exploring a sale, with any deal likely to value the energy infrastructure at around $3 billion including debt, people familiar with the matter said.

EPIC Crude is one of the major pipelines which brings oil from the Permian and Eagle Ford shale basins of Texas to export facilities on the US Gulf coast. It entered full service in 2020 and has a capacity of more than 600,000 barrels per day.

EPIC Midstream, controlled by investment firm Ares Management, owns around 45 per cent of the company which holds EPIC Crude. The rest is held equally by Diamondback Energy and Kinetik.