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Last $50.15 USD
Change Today +0.06 / 0.12%
Volume 312.2K
PAA On Other Exchanges
Symbol
Exchange
New York
As of 12:33 PM 05/4/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

333 Clay Street

Suite 1600

Houston, TX 77002

United States

Phone: 713-646-4100

Fax:

Plains All American Pipeline, L.P., through its subsidiaries, owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas, and refined products. Segments The company operates through three segments: Transportation, Facilities, and Supply and Logistics. Transportation segment This segment’s operations consist of fee-based activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges. This segment also includes equity earnings from the company’s investments in Settoon Towing (Settoon Towing, LLC) and the White Cliffs (White Cliffs Pipeline LLC), Eagle Ford (Eagle Ford Pipeline LLC), BridgeTex (BridgeTex Pipeline Company, LLC), Butte (Butte Pipe Line Company), and Frontier (Frontier Pipeline Company) pipeline systems, in which the company owns interests ranging from 22% to 50%. As of December 31, 2014, the company employed various owned or, to a much lesser extent, leased long-term physical assets throughout the United States and Canada in this segment, including approximately 17,800 miles of active crude oil and NGL pipelines and gathering systems; 29 million barrels of active, above-ground tank capacity used primarily to facilitate pipeline throughput; 800 trailers (primarily in Canada); and 149 transport and storage barges and 72 transport tugs through its interest in Settoon Towing. The United States Pipelines Permian Basin Basin Pipeline System: The company owns an 87% undivided joint interest in and is the operator of the Basin pipeline system. The Basin system is a primary route for transporting crude oil from the Permian Basin (in west Texas and southern New Mexico) to Cushing, Oklahoma, for further delivery to Mid-Continent and Midwest refining centers. The Basin system also serves as the initial movement for transporting crude oil from the Permian Basin to the Gulf Coast through connections to other carriers at Colorado City, Texas and Wichita Falls, Texas. The Basin system accommodates three primary movements of crude oil, such as barrels that are shipped from Jal, New Mexico to the west Texas markets of Wink/Hendrick and Midland; barrels that are shipped from Midland to connecting carriers at Colorado City or Wichita Falls; and barrels that are shipped from Jal, Midland, Colorado City and Wichita Falls to connecting carriers at Cushing. The Basin system is an approximate 520-mile mainline, telescoping crude oil system with a system capacity ranging from approximately 240,000 barrels per day to 450,000 barrels per day (approximately 208,800 barrels per day to 392,000 barrels per day attributable to the company’s interest) depending on the segment. System throughput (as measured by tariff volumes) was 498,000 barrels per day (attributable to its interest) during 2014. The Basin system is subject to tariff rates regulated by the Federal Energy Regulatory Commission (FERC).The system also includes approximately 6 million barrels of tankage. In 2014, the company completed a project to increase capacity on the segment from Jal to Wink/Hendrick from approximately 144,000 barrels per day to 240,000 barrels per day (approximately 125,000 barrels per day to 208,800 barrels per day attributable to its interest). The company is constructing an extension of the Basin system, which would include looping the Wink to Midland segment of the system. This project is expected to be complete in 2015. Mesa Pipeline System: The company owns a 63% undivided interest in and is the operator of the Mesa pipeline system, which transports crude oil from Midland to a refinery at Big Spring, Texas and to connecting carriers at Colorado City. The Mesa system is an 80-mile mainline with a system capacity of approximately 400,000 barrels per day (approximately 252,000 barrels per day attributable to its interest). System throughput (as measured by tariff volumes) was 227,000 barrels per day (attributable to its interest) during 2014. Sunrise Pipeline: The company owns and operates the Sunrise pipeline system, which extends from Midland to connecting carriers at Colorado City, Texas. Constru

 

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PAA

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Valuation PAA Industry Range
Price/Earnings 21.1x
Price/Sales 0.4x
Price/Book 2.4x
Price/Cash Flow 15.7x
TEV/Sales 0.2x
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