Plains All American Pipeline, L.P. (NYSE: PAA)
today announced that it has acquired Legion Terminals, LLC, which owns a
crude oil terminal under construction in Johnson's Corner, McKenzie
County, N.D. The terminal, which is expected to be in service in Q3
2015, is strategically positioned to serve as a crude oil logistics hub
in the Williston Basin.
The terminal is located on approximately 60 acres of property and
includes 500,000 barrels of crude oil storage, pipeline interconnects,
truck facilities and other associated assets. The terminal is permitted
for up to 2 million barrels of crude oil storage, 8 pipeline
interconnects and 12 truck unloading stations.
Once in service, the terminal will complement Plains' existing Williston
Basin footprint and provide opportunities for additional connectivity to
Plains assets. Plains' Trenton crude oil gathering system and Manitou
and Van Hook crude-by-rail facilities are all located within 50 miles of
the terminal.
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 4.1 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
Media:
Brad
Leone, (866) 809-1290
Director, Communications