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Jan 26, 2000
PAA Declares Distribution on Common Units
(Houston – January 26, 2000) Plains All American Pipeline, L.P. (NYSE:PAA) today announced a cash distribution of $0.45 per unit on its outstanding Common Units and Class B Common Units. The distribution will be payable on February 14, 2000, to holders of record of such units at the close of business on February 7, 2000.

“We have made significant progress over the last two months and are pleased to be able to make this distribution,” said Harry N. Pefanis, President and COO of Plains All American Inc. “While we still have much we want to accomplish, we are gratified that our progress has been recognized by our various financial institutions.”

The terms of the Partnership’s credit facilities, as amended in December 1999, require the consent of the lenders prior to making any distribution on the Partnership’s limited partner units. The Partnership noted that it had received the requisite consent from its lenders to enable the payment of the distribution for this quarter. The distribution is equal to the minimum quarterly distribution specified in the Partnership Agreement. No distribution was declared on the subordinated units owned by Plains All American Inc., the Partnership’s General Partner.

Plains All American Pipeline, L.P. is engaged in interstate and intrastate crude oil transportation, terminalling and storage, as well as crude oil gathering and marketing activities, primarily in California, Texas, Oklahoma, Louisiana and the Gulf of Mexico. Plains All American Inc., a wholly owned subsidiary of Plains Resources Inc., holds an effective 54% interest in the Partnership and serves as its General Partner. The Partnership’s common units are traded on the New York Stock Exchange under the symbol “PAA.” Plains Resources Inc.’s common shares are traded on the American Stock Exchange under the symbol “PLX.” The Partnership is headquartered in Houston, Texas.
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