Plains All American Pipeline, L.P. (NYSE:PAA), today announced that its wholly owned subsidiary Plains Pipeline, L. P. ("Plains") has received December nominations from its customers for crude oil transportation that exceed Plains' capacity on Basin Pipeline. This has resulted in a proration to 86.35% of customer's nominations.
Plains owns an approximate 87% undivided interest in and operates Basin Pipeline. The Basin Pipeline system is a 519-mile mainline crude oil system extending from the Permian Basin (in West Texas and Southern New Mexico) to Cushing, Okla. The system's capacity ranges from 144,000 barrels per day to over 400,000 barrels per day depending on the segment. The pipeline segment extending from Colorado City, Texas to Cushing, Okla. is in the process of being expanded to 450,000 barrels per day, which is targeted to be completed in the second quarter of 2012.
PAA owns a network of approximately 16,000 miles of liquids pipelines, approximately 90 million barrels of liquids storage capacity and handles more than 3 million barrels of physical product on a daily basis.
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 general partner interest and majority equity ownership position in PAA Natural Gas Storage, L.P. (NYSE: PNG), PAA is also engaged in the development and operation of natural gas storage facilities. PAA is headquartered in Houston, Texas.
Contacts:
Plains All American Pipeline, L.P.
Roy I. Lamoreaux,
713-646-4222 – 800-564-3036
Director, Investor Relations
Al
Swanson, 800-564-3036
Executive Vice President, CFO
