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PAA Plains All American Pipeline

8.76
0.00 (0.00%)
26 Apr 2024 - Closed
Delayed by 15 minutes
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

Plains All American Pipeline Announces New Pipeline from Duncan, Okla. to Longview, Texas

05/11/2014 11:15pm

Business Wire


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Pipeline Will Deliver Crude Oil from the Permian Basin and Cushing To Refineries in Oklahoma, East Texas and Shreveport

Plains All American Pipeline, L.P. (NYSE: PAA) announced today that it plans to construct a new 16-inch, 226-mile pipeline originating from the Plains Basin pipeline system at Duncan, Okla. and largely following an existing Plains right-of-way to Longview, Texas. The pipeline is supported by long-term commitments and is expected to be completed by 2Q 2016.

The new pipeline will also have access to Cushing-sourced crude oil through connections with the Plains Cherokee and Red River pipeline systems. The pipeline capacity will be approximately 150,000 barrels per day (bpd) of WTI crude oil, and the pipeline will have the ability to deliver crude oil to local refineries in Oklahoma and in East Texas, and to the Plains Longview terminal, which is connected to third-party pipelines. As part of the project, capacity for an existing Plains pipeline system from Longview to Shreveport will be increased from 40,000 bpd to 80,000 bpd with a joint venture partner.

Plains All American Pipeline, L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids ("NGL"), natural gas and refined products. PAA owns an extensive network of pipeline transportation, terminalling, storage and gathering assets in key crude oil and NGL producing basins and transportation corridors and at major market hubs in the United States and Canada. On average, PAA handles over 3.9 million barrels per day of crude oil and NGL on its pipelines. PAA is headquartered in Houston, Texas.

Forward Looking Statements

Certain matters discussed in this release are forward-looking statements that involve risks and uncertainties that could cause actual results or outcomes to differ materially from results or outcomes anticipated in the forward-looking statements. These risks and uncertainties include, among other things, shortages, cost increases or delays in receipt of supplies, materials or labor; inability to obtain, delays in the receipt of, or other issues associated with necessary licenses, permits, approvals, consents, rights of way or other governmental or third party requirements; the impact of current and future laws, rulings, orders, governmental regulations, accounting standards and statements and related interpretations; weather interference with business operations or project construction, including the impact of extreme weather events or conditions; environmental liabilities, issues or events that result in construction delays or otherwise impact targeted in-service dates; interruptions in service on third-party pipelines or facilities; general economic, market or business conditions and the amplification of other risks caused by volatile financial markets, capital constraints and pervasive liquidity concerns; and other factors and uncertainties inherent in the transportation, storage, terminalling and marketing of crude oil and refined products as discussed in PAA's filings with the Securities and Exchange Commission.

Plains All American Pipeline, L.P.Investors:Ryan Smith, (866) 809-1291Director, Investor RelationsorMedia:Brad Leone, (866) 809-1290Director, Communications

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