EPIC Crude pipeline holders mull roughly $3B sale, Reuters reports

The owners of the EPIC Crude pipeline are looking into a sale of the asset, with any transaction likely to value the infrastructure at roughly $3B including debt, Reuters’ David French and Arathy Somasekhar report, citing people familiar with the matter. EPIC Midstream, controlled by Ares Management (ARES), owns roughly 45% of the company that holds the pipeline, with the rest held equally by Diamondback Energy (FANG) and Kinetik (KNTK), the authors note. The owners are working with investment bankers on the potential deal and have started sounding out possible suitors for EPIC Crude, the authors say, citing four people familiar with the matter.