Plains All American Pipeline Announces New Pipeline from Duncan, Okla. to Longview, Texas
November 05 2014 - 06:15PM
Business Wire
Pipeline Will Deliver Crude Oil from the
Permian Basin and Cushing To Refineries in Oklahoma, East Texas and
Shreveport
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) 809-1291Director, Investor RelationsorMedia:Brad
Leone, (866) 809-1290Director, Communications
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