Plains All American is holding fast in light of the ongoing chaos in energy markets, but company Chairman and CEO Willie Chiang said the company would keep disciplined and keep growing.

“More volatile markets create a few more questions,” Chiang said during PAA’s first-quarter earnings call on May 9. “And what I would tell you is that good deals always take time to get to win-win.”

The company announced the completion of several acquisitions since the start of the year.

In February, Plains acquired the remaining 50% interest in Cheyenne Pipeline from HF Sinclair Midstream. The 94-mile line carries crude to southeastern Wyoming. The purchase strengthens Plains’ integration of pipelines in the area that supply the hub in Cushing, Oklahoma.

Plains also bought Black Knight Midstream’s Permian Basin crude oil gathering network for about $55 million, in a deal that closed May 1.

“It’s in the absolute core of the northern Midland Basin,” said Chris Chandler, chief operations officer for Plains. “The producer on the system is one of their top assets.”

The company also completed a project north of the U.S. border, finishing a debottlenecking project that would add an additional 30,000 bbl/d on NGL production at a fractionation complex in Edmonton, Canada. Chandler said the project was part of an overall plan to increase the connectivity and gathering capacity on its NGL network in the area.

For the quarter, Plains reported an adjusted EBITDA of $754 million — $559 million in the crude segment and $189 million from NGLs.

The company’s guidance for the year expects adjusted free cash flow of about $1.1 billion. Chiang said that the outlook for Permian production remains strong, despite the recent volatility.

“We believe a lower price environment will ultimately reinforce the cyclical nature of the commodity markets, leading to a constructive medium to long-term outlook,” he said.

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