Contacts: Phillip D. Kramer Executive Vice President and CFO 713/646-4560 – 800/564-3036
Brad A. Thielemann Manager, Special Projects 713/646-4222 – 800/564-3036
FOR IMMEDIATE RELEASE
Plains All American Pipeline Declares Increased Distribution on Limited Partner Units
(Houston – January 24, 2006) Plains All American Pipeline, L.P. (NYSE: PAA) today announced a cash distribution of $0.6875 per unit ($2.75 per unit on an annualized basis) on all of its outstanding limited partner units. The distribution will be payable on February 14, 2006, to holders of record of such units at the close of business on February 3, 2006.
The quarterly distribution to be paid in February 2006 represents an increase of approximately 12% over the quarterly distribution of $0.6125 paid in February 2005 and approximately 2% over the November 2005 distribution of $0.675. This represents the 7th consecutive quarterly distribution increase for the Partnership and the 14th increase in the last 20 quarters.
Plains All American Pipeline, L.P. is engaged in interstate and intrastate crude oil transportation and crude oil gathering, marketing, terminalling and storage, as well as the marketing and storage of liquefied petroleum gas and other petroleum products, in the United States and Canada. Through its 50% ownership in PAA/Vulcan Gas Storage LLC, the Partnership is engaged in the development and operation of natural gas storage facilities. The Partnership's common units are traded on the New York Stock Exchange under the symbol "PAA." The Partnership is headquartered in Houston, Texas.
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