Plains All American Pipeline, L.P. (NYSE:PAA)
today announced four projects that are part of its plan to significantly
increase and expand its Permian Basin pipeline infrastructure over the
next few years to keep pace with rising production volumes. These four
projects, as well as several other projects currently under review, will
result in aggregate investments of approximately $400 million to $500
million. The four projects are expected to be completed in stages
throughout 2014 and early 2015 and include the construction of three new
large diameter ("trunk line") pipelines that will increase the
Partnership's takeaway capacity in support of crude oil production
growth in the Delaware and South Midland Basins and will support
gathering systems the Partnership is constructing in the Avalon, Bone
Spring and South Spraberry developments.
The first project consists of adding pumping capacity to the
Partnership's existing 20-inch Basin pipeline from Jal, New Mexico to
Wink, Texas (in Winkler County), increasing the pipeline's capacity
100,000 barrels per day to 240,000 barrels per day, and constructing a
new 40-mile, 12-inch pipeline with 100,000 barrels per day of pipeline
capacity from Monahans to Crane, Texas to supply volumes to the Longhorn
pipeline as well as the Partnership's Cactus pipeline at McCamey.
The second project includes constructing a new 62-mile, 16 and 20-inch
pipeline with 200,000 barrels per day of takeaway capacity from the
South Midland Basin in Central Reagan and Central Upton counties to the
origin of the Cactus pipeline at McCamey, Texas.
The third project involves constructing a new 80-mile, 20-inch pipeline
between Midland and Colorado City, Texas that will provide an additional
250,000 barrels per day of capacity to supply connecting carriers at
Colorado City including the new BridgeTex Pipeline.
The fourth project reflects the Partnership's expectation, based on
shipper demand, to increase the capacity of its Cactus pipeline project
from 200,000 barrels per day to 250,000 barrels per day through the
addition of pumping capacity.
Customer inquiries regarding these projects should be directed to Joe
Richards, Dir., Pipeline Commercial Operations at Plains All American
Pipeline, 713-646-4629.
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 or 800-564-3036
Director, Investor Relations
or
Media:
Brad
Leone, 713-646-4196
Manager, Communications