Contacts:
Phillip D. Kramer Executive VP and CFO 713/646-4560 - 800/564-3036
Brad A. Thielemann Manager, Special Projects 713/646-4222 - 800/564-3036
PAA Declares Increased Distribution on Limited Partner Unit
(Houston – April 20, 2006) Plains All American Pipeline, L.P. (NYSE: PAA) today announced a cash distribution of $0.7075 per unit ($2.83 per unit on an annualized basis) on all of its outstanding limited partner units. The distribution will be payable on May 15, 2006, to holders of record of such units at the close of business on May 5, 2006.
The quarterly distribution to be paid in May 2006 represents an increase of approximately 11.0% over the quarterly distribution of $0.6375 paid in May 2005 and approximately 2.9% over the February 2006 distribution of $0.6875. This represents the 8th consecutive quarterly distribution increase for the Partnership and the 15th increase in the last 21 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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