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| Name | Symbol | Market | Type |
|---|---|---|---|
| Plains All American Pipeline | NYSE:PAA | NYSE | Trust |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 8.76 | 0 | 01:00:00 |
From May 2019 to May 2024
By Tess Stynes
Anadarko Petroleum Corp. (APC) exercised its option to purchase a 20% equity interest in a 550-mile pipeline planned by Magellan Midstream Partners LP (MMP) and Plains All-American Pipeline LP (PAA).
The Saddlehorn pipeline is aimed to transport crude out of the DJ Basin and potentially the broader Rocky Mountain region, and into storage facilities in Cushing, Okla. Magellan and Plains All American will each have 40% interests in the pipeline, and they own the Oklahoma facilities.
The pipeline project is estimated to cost between $800 million and $850 million. Pending necessary regulatory approvals, the pipeline is expected to go online in mid-2016.
Further financial details weren't provided.
U.S. oil production has skyrocketed in recent years amid advances in drilling methods that have unlocked crude trapped in shale rock formations. The growth in output has spurred demand for more pipelines to bring crude oil to markets.
Write to Tess Stynes at tess.stynes@wsj.com
1 Year Plains All American Pipe... Chart |
1 Month Plains All American Pipe... Chart |
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