Last $49.30 USD
Change Today -0.59 / -1.19%
Volume 888.8K
PAA On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 3:02 PM 03/2/15 All times are local (Market data is delayed by at least 15 minutes).

plains all amer pipeline lp (PAA) Key Developments

Plains All American Pipeline Seeks Acquisitions

Plains All American Pipeline, L.P. (NYSE:PAA) announced public offering of 21 million common units. A portion of the proceeds will be used for general partnership purposes, including acquisitions, joint venture investments and other expansion capital expenditures.

Plains All American Pipeline Plans to Construct Two New Delaware Basin Pipelines and Related Gathering Systems

Plains All American Pipeline, L.P. announced plans to construct two new Delaware Basin pipelines and related gathering systems, to expand its existing Blacktip station and to construct a 20 loop line from Blacktip station to Wink, Texas. These new infrastructure builds in West Texas and New Mexico will support PAA's previously announced 24 Basin Pipeline loop from Wink to Midland and new 12 pipeline from Monahans to Crane. The new Delaware Basin pipelines, Avalon Extension and State Line, are backed by producer commitments. The 32-mile, 12 Avalon Extension pipeline will extend the Avalon pipeline, which runs from the PAA Avalon station in northwest Loving County to its Blacktip station in southeast Loving County, Texas, into Culberson County, Texas, and is capable of transporting up to 100,000 barrels per day (bpd) of crude oil from northern Loving and Culberson Counties. The line and two new truck unloading facilities at Orla, Texas and at Highway 285 are expected to be brought into service in phases beginning in July 2015, with total system completion, including the associated gathering system, scheduled for September 2015. The 60-mile, 16 State Line pipeline will connect Culberson County to Wink, Texas, running along the Texas-New Mexico state line. State Line will connect Delaware Basin production in southern Eddy and Lea Counties in New Mexico and northern Loving, Reeves and Culberson Counties in Texas to the existing network of PAA Permian Basin assets. The pipeline will be capable of transporting up to 150,000 bpd of batched crude oil and condensate. State Line is expected to be brought into service in phases beginning in early 2016 and concluding in mid-2016, with completion of the associated gathering system anticipated by early 2016. The Blacktip station expansion and pipeline loop will include building 200,000 barrels of new operational tankage and associated pumping to provide an additional 200,000 bpd of pipeline capacity from the Blacktip station to Wink. The Blacktip station expansion and loop pipeline are expected to be completed in August 2015.

Plains All American Pipeline, L.P. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014 ; Provides Earnings and Production Guidance for the First Quarter Ending March 31, 2015 and Full Year Ending December 31, 2015

Plains All American Pipeline, L.P. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported revenue of $9,459 million compared to $10,631 million a year ago. Operating income was $530 million compared to $394 million a year ago. Income before tax was $471 million compared to $337 million a year ago. Net income attributable to company was $389 million compared to $309 million a year ago. Net income attributable to company limited partner unit was $253 million compared to $203 million a year ago. Net income attributable to company general partner unit was $136 million compared to $106 million a year ago. Basic and diluted net income per limited partner unit was $0.67 compared to diluted net income per limited partner unit of $0.58 a year ago. Adjusted net income attributable to company was $362 million compared to $371 million a year ago. Diluted adjusted net income per limited partner unit was $0.60 compared to $0.76 a year ago. Adjusted EBITDA was $594 million compared to $595 million a year ago. Net cash provided by operating activities was $726 million compared to $360 million a year ago. EBITDA was $664 million compared to $526 million a year ago. Adjusted limited partners net income was $225 million compared to $262 million a year ago. For the year, the company reported revenue of $43,464 million compared to $42,249 million a year ago. Operating income was $1,791 million compared to $1,728 million a year ago. Income before tax was $1,557 million compared to $1,490 million a year ago. Net income attributable to company was $1,384 million compared to $1,361 million a year ago. Net income attributable to company limited partner unit was $884 million compared to $967 million a year ago. Net income attributable to company general partner unit was $500 million compared to $394 million a year ago. Diluted net income per limited partner unit was $2.38 compared to $2.80 a year ago. Adjusted net income attributable to company was $1,347 million compared to $1,466 million a year ago. Diluted adjusted net income per limited partner unit was $2.28 compared to $3.10 a year ago. Adjusted EBITDA was $2,200 million compared to $2,292 million a year ago. Net cash provided by operating activities was $2,004 million compared to $1,954 million a year ago. EBITDA was $2,289 million compared to $2,168 million a year ago. Adjusted limited partners net income was $842 million compared to $1,062 million a year ago. For the first quarter ending March 31, 2015, the company expects net revenues is in the range of $999 million to $1,047 million, depreciation and amortization expenses is in the range of $106 million to $102 million, interest expense is in the range of $106 million to $102 million, income tax expense is in the range of $39 million to $35 million, net income is in the range of $287 million to $359 million, net income attributable to company is in the range of $286 million to $358 million, net income to limited partners is in the range of $146 million to $217 million, diluted net income per unit is in the range of $0.38 to $0.57, EBITDA of is in the range of $538 million to $598 million, adjusted EBITDA of is in the range of $550 million to $610 million, adjusted net income attributable to company is in the range of $298 million to $370 million, basic and diluted adjusted net income per limited partner unit is in the range of $0.41 to $0.60. For the year ending December 31, 2015, the company expects net revenues is in the range of $4,029 million to $4,189 million, depreciation and amortization expenses is in the range of $438 million to $422 million, interest expense is in the range of $428 million to $412 million, income tax expense is in the range of $102 million to $86 million, net income is in the range of $1,235 million to $1,483 million, net income attributable to company is in the range of $1,232 million to $1,480 million, net income to limited partners is in the range of $632 million to $875 million, diluted net income per unit is in the range of $1.61 to $2.23, EBITDA of is in the range of $2,203 million to $2,403 million, adjusted EBITDA of is in the range of $2,250 million to $2,450 million, adjusted net income attributable to company is in the range of $1,279 million to $1,527 million, diluted adjusted net income per limited partner unit is in the range of $1.73 to $2.35. Maintenance capital expenditures is in the range of $205 million to $225 million. Total projected expansion capital expenditures is in the range of $1,750 million to $1,950 million. For the first quarter ending March 31, 2015, the company expects crude oil lease gathering purchases of 965 MBbls/d and NGL sales of 290 MBbls/d. Average daily volumes of 1,225 MBbls/d. Segment profit per barrel of $1.78/Bbl. For the year ending December 31, 2015, the company expects crude oil lease gathering purchases of 980 MBbls/d and NGL sales of 210 MBbls/d. Average daily volumes of 1,190 MBbls/d. Segment profit per barrel of $1.27/Bbl.

Sandell Asset Management In Talks to Sell SemGroup Corporation

Sandell Asset Management Corp. released a letter to the Board of Directors of the Company requesting that the Board review strategic alternatives including the exploration of the sale of SemGroup Corporation. Tom Sandell, Chief Executive Officer of Sandell, said, “Although we believe management and the Board of SemGroup have been respectable stewards of the Company over the past few years, we simply believe that in this environment the best outcome for shareholders is for the Company to sell itself. As long time investors in the North American energy infrastructure industry and SEMG’s shares, we firmly believe there are a number of potential acquirers for the entire company at significant premiums to current trading levels given its highly valued asset base and pipeline of exciting growth opportunities.” Basket of potential acquirers includes Magellan Midstream Partners LP (NYSE:MMP), Plains All American Pipeline, L.P. (NYSE:PAA), Spectra Energy Corp. (NYSE:SE), Enterprise Products Partners L.P. (NYSE:EPD), Kinder Morgan Financial Corp. and SemGroup Corporation (NYSE:SEMG).

Plains All American Pipeline, L.P. Enters into a New $1.0 Billion 364-Day Credit Facility

Plains All American Pipeline, L.P. announced that it has entered into a new $1.0 billion 364-day credit facility to provide additional liquidity. The facility closed on January 16, 2015, and pursuant to its terms, Plains All American has up to 364 days to draw on the facility and repay any loans thereunder. This facility increased the Partnership's committed liquidity on a pro forma basis from approximately $2.6 billion to $3.6 billion as of December 31, 2014. Bank of America, N.A. served as Administrative Agent. Merrill Lynch, Pierce, Fenner & Smith served as a Joint Lead Arranger, and was joined by Citigroup Global Markets Inc.; DNB Markets Inc.; J.P. Morgan Securities LLC; Mizuho Bank Ltd.; and Wells Fargo Securities, LLC as Joint Lead Arrangers.

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
PAA:US $49.30 USD -0.59

PAA Competitors

Market data is delayed at least 15 minutes.

Company Last Change
Devon Energy Corp $60.60 USD -0.99
DTE Energy Co $80.69 USD -1.34
Endesa SA €18.07 EUR 0.00
Energy Transfer Partners LP $57.98 USD -1.50
Marathon Oil Corp $27.46 USD -0.405
View Industry Companies
 

Industry Analysis

PAA

Industry Average

Valuation PAA Industry Range
Price/Earnings 21.0x
Price/Sales 0.4x
Price/Book 2.3x
Price/Cash Flow 14.7x
TEV/Sales -- Not Meaningful
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact PLAINS ALL AMER PIPELINE LP, please visit . Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.