Plains All American Pipeline, L.P. (NYSE: PAA)
today announced it is constructing a 95-mile extension of its existing
Oklahoma crude oil pipeline system to service increasing production from
the Granite Wash, Hogshooter and Cleveland Sands producing areas in
western Oklahoma and the Texas panhandle. The new Western Oklahoma
pipeline will provide up to 75,000 barrels per day of new takeaway
capacity from Reydon, Okla. in Roger Mills County to PAA's existing
Orion station in Major County, Okla. At the Orion station, crude oil
will flow on PAA's existing pipeline system to the PAA terminal in
Cushing, Okla.
The new Western Oklahoma pipeline is supported by long-term producer
commitments and is expected to be in service by the end of the first
quarter of 2014.
Plains All American Pipeline, L.P. is a publicly traded master limited
partnership engaged in the transportation, storage, terminalling and
marketing of crude oil and refined products, as well as in the
processing, transportation, fractionation, storage and marketing of
natural gas liquids. Through its general partner interest and majority
equity ownership position in PAA Natural Gas Storage, L.P. (NYSE:PNG),
PAA owns and operates natural gas storage facilities. 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; 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 the
Partnership's filings with the Securities and Exchange Commission.
Plains All American Pipeline, L.P.
Investors:
Roy
I. Lamoreaux, 713-646-4222 – 800-564-3036
Director, Investor
Relations
or
Media:
Brad Leone, 713-646-4196 –
800-564-3036
Manager, Communications