Mar 03, 2005 |
PAA Acquires LPG Pipeline and Terminal from Koch
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Contacts:
Phillip D. Kramer
Executive Vice President and CFO
713/646-4560 – 800/564-3036
A. Patrick Diamond
Manager, Special Projects
713/646-4487 – 800/564-3036
Plains All American Pipeline Acquires LPG Pipeline and Terminal from Koch
(HOUSTON – March 3, 2005) Plains All American Pipeline, L.P. (NYSE: PAA) announced today that through its subsidiary, Plains LPG Services, L.P., it has acquired for an undisclosed amount the Tulsa Propane Distribution Terminal from Koch Hydrocarbon, LP and the Tulsa Pipeline System from Koch Pipeline Company, L.P. The effective date of the transaction was March 2, 2005.
The acquired assets include a 130-mile pipeline capable of transporting approximately 400,000 to 500,000 gallons of propane per day, total storage capacity of approximately 810,000 gallons and two truck loading bays. The pipeline connects the terminal to Koch Hydrocarbon LP's fractionator in Medford, Oklahoma.
Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve certain risks and uncertainties. These risks and uncertainties include, among other things, successful integration and future performance of assets acquired, refinery downtime, unusual weather patterns, continued creditworthiness of, and performance by, our counterparties, the effects of competition, the success of our risk management activities, regulatory changes, and other factors and uncertainties inherent in the marketing, gathering and storage of LPG discussed in the Partnership's filings with the Securities and Exchange Commission.
Plains All American Pipeline, L.P. is engaged in interstate and intrastate crude oil transportation, terminalling and storage, as well as crude oil and LPG gathering and marketing activities, in the United States and Canada. 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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