Jan 24, 2001 |
PAA Declares Distribution on Common and Subordinated Units |
(Houston – January 24, 2001) Plains All American Pipeline, L.P. (NYSE:PAA) today announced a cash distribution of $0.4625 per unit on its outstanding Common Units, Class B Common Units and Subordinated Units. The distribution will be payable on February 14, 2001, to holders of record of such units at the close of business on February 2, 2001. The distribution represents $0.0125 per unit more than the minimum quarterly distribution of $0.45 per unit specified in the Partnership Agreement. 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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