Contacts:
Phillip D. Kramer
Executive Vice President and CFO
713-646-4560 – 800-564-3036
A. Patrick Diamond
Director, Strategic Planning
713-646-4487 – 800-564-3036
FOR IMMEDIATE RELEASE
Canadian Unit of Plains All American to Acquire Canadian Trucking Assets from Flint Hills Resources
(Houston – Tuesday, August 30, 2005) Plains All American Pipeline, L.P. (NYSE: PAA) announced today that its subsidiary, Plains Marketing Canada, L.P., has signed a definitive agreement to acquire the Canadian trucking assets of Flint Hills Resources, Ltd. for an undisclosed amount. The transaction is expected to close by the end of October, subject to satisfaction of customary closing conditions.
"This acquisition expands Plains Marketing Canada, L.P.'s crude oil marketing footprint in Western Canada, and the assets are complementary to our existing crude oil trucking business, which is currently one of the largest unrefined products fleets in Canada," stated W. David Duckett, President of Plains Marketing Canada, L.P. The trucking assets are comprised of a fleet of over 50 crude oil and condensate trailers that operate in key crude oil producing areas in Alberta and Saskatchewan.
Plains Marketing Canada, L.P., a subsidiary of Plains All American Pipeline, L.P., is a midstream crude oil and natural gas liquids company that combines transportation, gathering, terminalling and storage assets with an integrated marketing philosophy.
Plains All American Pipeline, L.P. is engaged in interstate and intrastate crude oil transportation, terminalling and storage, as well as crude oil and LPG gathering and marketing activities, in the United States and Canada. The Partnership's common units are traded on the New York Stock Exchange under the symbol "PAA". The Partnership is headquartered in Houston, Texas.
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