Profile: Plains All American Pipeline LP (PAA.N)
28 Apr 2017
Plains All American Pipeline, L.P., incorporated on September 17, 1998, owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. Through its segments, the Company is engaged in the transportation, storage, terminaling and marketing of crude oil, NGL and natural gas. The majority of its activities are focused on crude oil, which is the principal feedstock used by refineries in the production of transportation fuels. The Company owns a network of pipeline transportation, terminaling, storage and gathering assets in crude oil and NGL producing basins and transportation corridors and at market hubs in the United States and Canada.
The Company's transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges. The transportation segment also includes equity earnings from its investments in entities that own the BridgeTex, Eagle Ford, White Cliffs, Frontier and Butte pipeline systems, as well as Settoon Towing, in which it owns interests. Additionally, it owns interests in entities that are constructing and developing pipeline systems, including Caddo, Diamond and Saddlehorn. As of December 31, 2016, the Company employed a variety of owned or, to a much lesser extent, leased long-term physical assets throughout the United States and Canada, including approximately 19,200 miles of active crude oil and NGL pipelines and gathering systems; 31 million barrels of active, above-ground tank capacity used primarily to facilitate pipeline throughput; 810 trailers (primarily in Canada), and 120 transport and storage barges and 60 transport tugs through its interest in Settoon Towing.
The Company's crude oil pipelines in the United States include Basin Pipeline System, Mesa Pipeline System, Sunrise Pipeline, BridgeTex Pipeline, Cactus Pipeline and Permian Basin Area Systems; South Texas/Eagle Ford Area, which includes Eagle Ford Area Systems; Western, which include All American Pipeline System, Line 63 and Line 2000; Rocky Mountain, which include Bakken Area Systems, Salt Lake City Area Systems, White Cliffs Pipeline, Cheyenne Pipeline and Saddlehorn Pipeline; Gulf Coast, which include Capline Pipeline System and Pascagoula Pipeline, and Central, which include Mid-Continent Area Systems, Diamond Pipeline and Caddo Pipeline. The Company's crude oil pipelines in Canada include Manito Pipeline, Rainbow System, Rangeland System and South Saskatchewan, and its NGL Pipelines in Canada includes the Co-Ed NGL Pipeline System.
The Company's Facilities segment operations consist of activities associated with providing storage, terminaling and throughput services for crude oil, refined products, NGL and natural gas, as well as NGL fractionation and isomerization services and natural gas and condensate processing services. As of December 31, 2016, the Company owned, operated or employed a range of long-term physical assets throughout the United States and Canada in this segment, including approximately 80 million barrels of crude oil and refined products storage capacity at its terminaling and storage locations; approximately 32 million barrels of NGL storage capacity; approximately 97 Billion cubic feet (Bcf) of natural gas storage working capacity; approximately 31 Bcf of owned base gas; nine natural gas processing plants located throughout Canada and the Gulf Coast area of the United States; a condensate processing facility located in the Eagle Ford area of South Texas with an aggregate processing capacity of approximately 120,000 barrels per day; eight fractionation plants located throughout Canada and the United States with an aggregate net processing capacity of approximately 211,000 barrels per day, and an isomerization and fractionation facility in California with an aggregate processing capacity of approximately 15,000 barrels per day; 34 crude oil and NGL rail terminals located throughout the United States and Canada; six marine facilities in the United States, and approximately 1,000 miles of active pipelines that support its facilities assets.
Its crude oil and refined products facilities include Cushing Terminal, L.A. Basin, Martinez and Richmond Terminals, Mobile and Ten Mile Terminal, Patoka Terminal, St. James Terminal, Yorktown Terminal and Corpus Christi. The NGL storage facilities include Bumstead, Fort Saskatchewan, Sarnia Area and Tirzah. As of December 31, 2016, it owned three regulated natural gas storage facilities located in the Gulf Coast and Midwest. As of December 31, 2016, the Company owned and operated four straddle plants and two field gas processing plants located in Western Canada. As of December 31, 2016, it also owned and operated three natural gas processing plants located in Louisiana and Alabama with an aggregate natural gas processing capacity of approximately 0.3 Bcf per day. Its fractionation and isomerization facilities include Empress, Fort Saskatchewan, Sarnia and Shafter. Its Gardendale condensate processing facility located in La Salle County, Texas is designed to extract NGLs from condensate. As of December 31, 2016, the Company owned three active crude oil rail unloading terminals that had a combined unloading capacity of approximately 350,000 barrels per day.
Supply and Logistics
The Company's supply and logistics segment operations consist of the merchant-related activities, including the purchase of the United States and Canadian crude oil at the wellhead, the bulk purchase of crude oil at pipeline, terminal and rail facilities, and the purchase of cargos at their load port and various other locations in transit; the storage of inventory during contango market conditions and the seasonal storage of NGL and natural gas, and the purchase of NGL from producers, refiners, processors and other marketers. Its activities also include the resale or exchange of crude oil and NGL at various points along the distribution chain to refiners or other resellers; the transportation of crude oil and NGL on trucks, barges, railcars, pipelines and ocean-going vessels from various delivery points, market hub locations or directly to end users, such as refineries, processors and fractionation facilities, and the purchase and sale of natural gas. As of December 31, 2016, the Company employed a range of owned or leased physical assets throughout the United States and Canada, including 14 million barrels of crude oil and NGL linefill in pipelines owned by the Company; five million barrels of crude oil and NGL linefill in pipelines owned by third parties and other long-term inventory; 820 trucks and 1,065 trailers, and 10,660 crude oil and NGL railcars.
Plains All American Pipeline LP
333 Clay St Ste 1600
HOUSTON TX 77002-4101
Company Web Links
- BRIEF-Plains All American Pipeline reports officer retirements
- Plains All American's profit nearly halves as costs jump
- UPDATE 1-Plains All American's profit nearly halves as costs jump
- BRIEF-Plains All American Pipeline LP qtrly adjusted net income per unit $0.37
- Plains All American quarterly profit nearly halves as costs jump