Plains All American Pipeline Announces Open Season for Permian Basin to Cushing Pipeline
April 18 2017 - 4:00PM
Business Wire
Potential to Add Up to 350,000 Barrels Per Day
of Permian Basin Pipeline Takeaway Capacity
A subsidiary of Plains All American Pipeline, L.P. (NYSE: PAA)
today announced that it is conducting an open season for committed
crude oil pipeline capacity from the Permian Basin to Cushing, OK
(the “Pipeline”). Origin points will be Midland, TX and Colorado
City, TX. Depending on the results of the open season committed
volumes will move on a combination of new and existing pipelines.
The open season provides an opportunity for potential shippers to
offer long-term volume commitments in exchange for firm
transportation on the Pipeline.
The Pipeline will deliver to Plains’ terminal in Cushing, OK.
Subject to sufficient commitments from shippers and receipt of any
necessary permits and regulatory approvals, the Pipeline could be
operational in mid-2019.
By submitting a binding proposal, bidders are offering to enter
into a long-term throughput and deficiency agreement for pipeline
capacity. Interested parties should contact Bill Keener, Managing
Director Pipeline Commercial Operations at 713-993-5144. Potential
shippers must sign confidentiality agreements before receiving the
open season documents. The open season begins on April 18, 2017 and
will end at 12 p.m. CT on May 30, 2017.
Forward Looking Statements
This press release may include certain statements concerning
expectations for the future that are forward-looking statements as
defined by federal law. Such forward-looking statements are subject
to a variety of known and unknown risks, uncertainties, and other
factors that are difficult to predict and many of which are beyond
management’s control. An extensive list of factors that can affect
future results are discussed in each registrant’s Annual Report on
Form 10-K and other documents filed from time to time with the
Securities and Exchange Commission. The registrants undertake no
obligation to update or revise any forward-looking statement to
reflect new information or events.
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 4.6 million
barrels per day of crude oil and NGL in its Transportation segment.
PAA is headquartered in Houston, Texas. More information is
available at www.plainsallamerican.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170418006529/en/
Plains All AmericanInvestors:Ryan Smith, (866)
809-1291Director, Investor Relations
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