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13 Nov 2014 - 11:01:27 pm

Plains All American Pipeline, L.p. Enters Into Agreement To Acquire 50% Interest In Bridgetex Pipeline Company From Occidental Petroleum Corporation - Yahoo Finance











BridgeTex represents a very attractive and strategic addition to our existing West Texas pipelines, said Greg Armstrong, Chairman and CEO of Plains All American. Given recent and projected increases in Permian Basin production, we http://shularonlineplace.beeplog.com believe that BridgeTex will play an important role in providing needed takeaway capacity out ray j and kim kardashian of the Permian Basin, will provide additional flexibility for our customers and will expand PAAs market access to the Gulf Coast. Upon achieving full operating capability, we anticipate PAAs share of annualized EBITDA from BridgeTex LLC will range between $100 and $105 million. At that level, we expect the transaction to be approximately 1.5% accretive to PAAs targeted 2015 distribution per unit and 5% accretive to PAGPs corresponding distribution per share for 2015. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Plains All American Pipeline, L.P. is a publicly traded master limited homepage partnership see page that owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids ("NGL"), natural gas and refined products. 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.
Source: http://finance.yahoo.com/news/plains-american-pipeline-l-p-112800293.html




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