Press release from Business Wire
Plains All American Announces Western Oklahoma Pipeline Extension
Monday, May 20, 2013
Plains All American Announces Western Oklahoma Pipeline Extension08:00 EDT Monday, May 20, 2013
HOUSTON (Business Wire) -- Plains All American Pipeline, L.P. (NYSE: PAA) today announced it is constructing a 95-mile extension of its existing Oklahoma crude oil pipeline system to service increasing production from the Granite Wash, Hogshooter and Cleveland Sands producing areas in western Oklahoma and the Texas panhandle. The new Western Oklahoma pipeline will provide up to 75,000 barrels per day of new takeaway capacity from Reydon, Okla. in Roger Mills County to PAA's existing Orion station in Major County, Okla. At the Orion station, crude oil will flow on PAA's existing pipeline system to the PAA terminal in Cushing, Okla.
The new Western Oklahoma pipeline is supported by long-term producer commitments and is expected to be in service by the end of the first quarter of 2014.
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.
Roy I. Lamoreaux, 713-646-4222 ? 800-564-3036
Director, Investor Relations
Brad Leone, 713-646-4196 ? 800-564-3036