(Houston - January 25, 2011) Plains All American Pipeline, L.P. (NYSE:PAA) today announced a project to expand the capacity of its Basin Pipeline system to provide additional take-away capacity for increased crude oil production in west Texas and New Mexico.
The Basin Pipeline system, which is 87% owned and operated by PAA, transports crude oil produced in the Permian Basin of west Texas and southern New Mexico to Cushing, Oklahoma for further delivery to Mid-Continent and Midwest refining centers. The expansion project, which principally consists of making modifications to the pumping capacity of the pipeline, will increase the capacity of the pipeline segment from Colorado City, Texas to Cushing, Oklahoma from its current capacity of 400,000 barrels per day to 450,000 barrels per day. The project is expected to be completed by the first quarter of 2012.
Plains All American Pipeline, L.P. is a publicly traded master limited partnership engaged in the transportation, storage, terminalling and marketing of crude oil, refined products and liquefied petroleum gas and other natural gas related petroleum products. Through its general partner interest and majority equity ownership position in PAA Natural Gas Storage, L.P. (NYSE: PNG), PAA is also engaged in the development and operation of natural gas storage facilities. PAA is headquartered in Houston, Texas.
Forward Looking Statements
Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve certain risks and uncertainties. These risks and uncertainties include, among other things, unanticipated shortages or cost increases in power supplies, materials and skilled labor, weather interference with business operations or project construction, and other factors and uncertainties inherent in the transportation, storage, terminalling and marketing of crude oil as discussed in the Partnership's filings with the Securities and Exchange Commission.
Plains All American Pipeline, L.P.
A. Patrick Diamond, 713-646-4487 or 800-564-3036
Vice President
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