Plains All American Announces Open Season on Western Corridor Pipeline System
An affiliate of Plains All American Pipeline (NYSE: PAA) today announced a binding open season for long-term commitments for light crude oil transportation service on its Western Corridor Pipeline System (the “System”). The open season service will originate in northern Montana for delivery to Gulf Coast markets.
Subject to sufficient commitments from shippers and receipt of any necessary permits and regulatory approvals, the existing System capacity will be expanded by up to an additional 70,000 barrels per day, and service on the expanded System is expected to begin in the second quarter of 2021.
By submitting a binding proposal, bidders are offering to enter into a long-term throughput and deficiency agreement for pipeline capacity. Prior to participating in the open season, interested parties must execute a confidentiality agreement to govern the receipt of the open season documentation. For a form of confidentiality agreement and additional information regarding the transportation service, please contact Greg Starling at gstarling@paalp.com.
About Plains All American Pipeline
Plains All American Pipeline is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil, NGLs and natural gas. PAA owns an extensive network of pipeline transportation, terminalling, storage, and gathering assets in key crude oil and NGL producing basins and transportation corridors and at major market hubs in the United States and Canada. On average, PAA handles more than 6 million barrels per day of crude oil and NGL in its Transportation segment. PAA is headquartered in Houston, Texas. More information is available at www.plainsallamerican.com.
Forward-Looking Statements
Certain matters discussed in this release are forward-looking statements. Various factors could cause actual results or outcomes to differ materially from results or outcomes anticipated in the forward-looking statements. Such factors include, among other things, shortages, cost increases or delays in the receipt of supplies, materials or labor; permitting delays, permitting withdrawals or other factors; the impact of weather events or conditions; environmental liabilities, issues or other events; the application or interpretation of current and future laws, rulings, orders and governmental regulations; and interruptions in service on third-party pipelines or facilities. Anticipated results and outcomes can also be impacted by general economic, market or business conditions and the amplification of other risks caused by volatile financial markets, capital constraints and pervasive liquidity concerns. For a discussion of these factors and other risks and uncertainties inherent in the transportation, storage, terminalling and marketing of crude oil, please refer to PAA's filings with the Securities and Exchange Commission.
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