Plains All American Pipeline Acquires Williston Basin Crude Oil Terminal Under Construction
February 27 2015 - 9:00AM
Business Wire
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) 809-1291Director, Investor RelationsMedia:Brad Leone,
(866) 809-1290Director, Communications
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