Plains All American Pipeline, L.P. (NYSE: PAA)
today announced it is constructing approximately 45 miles of new crude
oil pipeline that will complement its existing Mississippian Lime
pipelines and will further service growing production in the
Mississippian Lime resource play. The pipeline is expected to be brought
into service in the first quarter of 2014.
This project will extend PAA's pipeline infrastructure into Logan
County, Okla. and farther into Grant County, Okla., and will deliver
crude oil to PAA's terminal in Cushing, Okla. The project includes the
construction of 150,000 barrels of new tankage along the system and is
supported by a long-term acreage dedication and a storage lease at PAA's
Cushing terminal from an area producer.
Plains All American Pipeline, L.P. is a publicly traded master limited
partnership engaged in the transportation, storage, terminalling and
marketing of crude oil and refined products, as well as in the
processing, transportation, fractionation, storage and marketing of
natural gas liquids. Through its general partner interest and majority
equity ownership position in PAA Natural Gas Storage, L.P. (NYSE:PNG),
PAA owns and operates natural gas storage facilities. PAA is
headquartered in Houston, Texas.
Forward Looking Statements
Certain matters discussed in this release are forward-looking statements
that involve risks and uncertainties that could cause actual results or
outcomes to differ materially from results or outcomes anticipated in
the forward-looking statements. These risks and uncertainties include,
among other things, shortages, cost increases or delays in receipt of
supplies, materials or labor; inability to obtain, delays in the receipt
of, or other issues associated with necessary licenses, permits,
approvals, consents, rights of way or other governmental or third party
requirements; the impact of current and future laws, rulings, orders,
governmental regulations, accounting standards and statements and
related interpretations; weather interference with business operations
or project construction; environmental liabilities, issues or events
that result in construction delays or otherwise impact targeted
in-service dates; interruptions in service on third-party pipelines or
facilities; general economic, market or business conditions and the
amplification of other risks caused by volatile financial markets,
capital constraints and pervasive liquidity concerns; and other factors
and uncertainties inherent in the transportation, storage, terminalling
and marketing of crude oil and refined products as discussed in the
Partnership's filings with the Securities and Exchange Commission.
Plains All American Pipeline, L.P.
Investors:
Roy I.
Lamoreaux, 713/646-4222 – 800/564-3036
Director, Investor Relations
or
Media:
Brad
Leone, 713/646-4196 - 800/564-3036
Manager, Communications