Contacts:
Phil D. Kramer
Executive Vice President and CFO
713/646-4560 – 800/564-3036
Roy I. Lamoreaux
Manager, Investor Relations
713/646-4222 – 800/564-3036
FOR IMMEDIATE RELEASE
Plains All American Pipeline Declares Increased Distribution on Limited Partner Units
(Houston – October 18, 2007) Plains All American Pipeline, L.P. (NYSE: PAA) today announced a cash distribution of $0.84 per unit ($3.36 per unit on an annualized basis) on all of its outstanding limited partner units. The distribution will be payable on November 14, 2007, to holders of record of such units at the close of business on November 2, 2007.
The quarterly distribution to be paid in November 2007 represents increases of approximately 12.0% over the quarterly distribution of $0.75 per unit paid in November 2006 and approximately 1.2% over the August 2007 distribution of $0.83 per unit. This represents the 14th consecutive increase in quarterly distributions for the Partnership and the 21st increase in the last twenty-seven quarters. The Partnership noted that including the November distribution, the quarterly distributions paid per unit during 2007 will total $3.2825, representing a 14.4% increase over the $2.87 paid per unit in 2006, thereby exceeding the Partnership's targeted 14% distribution increase for the year.
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 50% ownership in PAA/Vulcan Gas Storage, LLC, the partnership is also engaged in the development and operation of natural gas storage facilities. The Partnership is headquartered in Houston, Texas.
END
|