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) 809-1291
Director, Investor Relations
or
Media:
Brad
Leone, (866) 809-1290
Director, Communications