Plains All American Pipeline LP

Plains All American Pipeline LP

Plains All American Pipeline LP

Overview
Date Founded

1998

Headquarters

333 Clay Street, Suite 1600, Houston, TX, 77002, USA

Type of Company

Public

Employees (Worldwide)

5,000

Industries

Oil & Gas
Other Business & Consulting Services
Power & Utilities

Company Description

Plains All American Pipeline, L.P. is a publicly traded master limited partnership (“MLP”) engaged in the transportation, storage, terminalling and marketing of crude oil, refined products and liquefied petroleum gas and other natural gas related petroleum products (together "NGL"). Through our general partner interest and majority equity ownership position in PAA Natural Gas Storage, L.P. (NYSE: PNG), we are also engaged in the development and operation of natural gas storage facilities. We own and operate a diversified portfolio of strategically located assets that play a vital role in the movement of U.S. and Canadian energy supplies. On average we handle over 3 million barrels per day of crude oil, refined products and NGL through our extensive network of assets located in key North American producing basins and transportation gateways. As an MLP, we make quarterly distributions of our available cash to our Unitholders. Since our initial public offering in 1998, we have increased our quarterly distribution by 150% to its current level (with February 2013 distribution) of $0.56250 per unit, or $2.25 per unit on an annualized basis. It is our goal to increase our distribution to Unitholders over time through a combination of internal and acquisition-oriented growth. Our common units are traded on the New York Stock Exchange under the symbol "PAA." We are headquartered in Houston, Texas

Contact Data
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Executives & Employees

Chief Executive Officer

Executive Vice President & Chief Financial Officer

Executive Vice President & Chief Operating Officer

Executive Vice President, General Counsel & Secretary

Senior Vice President & Chief Accounting Officer

Associate General Counsel-Commercial & Litigation

Executive Vice President & Chief Financial Officer, Plains Midstream Canada

President, Plains Midstream Canada of Plains All American GP LLC

Vice President, Controller

Managing Director-Internal Audit

Board of Directors

Chief Executive Officer at Plains All American Pipeline LP

Lead Director at National Oilwell Varco, Inc.

Co-Founder at EMG Fund II Management LP

General Partner at Oasis Petroleum, Inc.

Founder at DelTex Capital LLC

Co-Chairman at Kayne Anderson Capital Advisors LP

President, Director & Chief Commercial Officer at Plains GP Holdings LP

Managing Partner & Co-Founder at EnCap Investments LP

Managing Director-Performance Improvement at Alvarez & Marsal, Inc.

Former Partner & Chief Financial Officer, Firm Administration at Perella Weinberg Partners LP

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Owners & Shareholders
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AAI offers innovative investment solutions designed to help advisors and investors build better portfolios. Through both their alternative investment products and access to specialty asset managers, the firm seeks to deliver portfolio solutions that allow investors to diversify their core holdings and obtain exposure to attractive investment themes. The firm’s exposure to alternatives and specialty managers is achieved primarily through ETFs, exchange-traded products, closed-end funds and open-end funds with the goal of providing access that is registered, liquid and fully transparent. AAI currently does not research or actively recommend specific portfolio securities. Rather, the firm collects, validates and utilizes quantitative data and information from various sources with the goal of identifying one or more sub-advisors that are appropriate to their respective investment objectives and that provide an appropriate mix of diversified investment styles or alternatively through products that are passively managed, and track a designated index.

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Harvest Fund Advisors’ principal investment area is energy and energy infrastructure assets with a particular focus on US master limited partnerships (MLPs). The firm employs fundamental, value-oriented, bottom-up research, analysis, and industry knowledge to generate alpha returns. The funds may be organized in the US or in a foreign jurisdiction as limited liability companies, limited partnerships, trusts, or offshore corporations, partnerships, trusts, or any other legal entity. For some of their clients or funds, Harvest Fund Advisors may purchase or sell derivatives instruments or swaps.

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Tortoise Capital Advisors' primary investment strategy is fundamentals based, long-only, with an emphasis on managing risk which they define as the potential for a permanent loss of capital. However, the firm’s investment strategies may include short-term purchases and trading where appropriate, as indicated by their fundamental and technical analysis. Tortoise Capital Advisors evaluates companies operating in both the energy and global water value chains to gain a better understanding of the impact on their respective investments. They have primary coverage on all midstream MLPs and pipeline c-corporations in the investment universe, and a majority of the large energy and power companies. Tortoise Capital Advisors have secondary coverage on all other MLPs, as well as a majority of the energy value chain in their investment universe.

Recent Transactions
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Crestwood Equity Partners LP purchases Plains All American Pipeline LP /NGL Terminal Assets from Plains All American Pipeline LP

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Plains All American Pipeline LP issued USD Common Units

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OMERS Administration Corp., Omers Infrastructure Management, Inc. purchase BridgeTex Pipeline Co., LLC from Plains All American Pipeline LP, Magellan Midstream Partners LP

Transaction Advisors
Auditor

Advised onPlains All American Pipeline LP issued USD Common Units

Legal Advisor

Advised onPlains All American Pipeline LP purchases Pacific Energy Partners LP from LB Pacific LP

Underwriter

Advised onPlains All American Pipeline LP issued USD Common Units

Legal Advisor

Advised onPlains All American Pipeline LP purchases Pacific Energy Partners LP from LB Pacific LP

Professional

Advised onPlains All American Pipeline LP issued USD Common Units

Professional

Advised onPlains All American Pipeline LP issued USD Common Units

Advisors & Consultants
Legal Advisor

Partner at Vinson & Elkins LLP

Legal Advisor

Partner at Vinson & Elkins LLP

Advisor

Former Senior Vice President, General Counsel-Commercial & Litigation & Assistant Secretary at Plains All American Pipeline LP

Clients

Headquartered in Findlay, Ohio in the heart of the Midwest, Marathon Petroleum Corporation (MPC) is the name of the parent company which includes several subsidiary companies including Marathon Petroleum Company LP, Marathon Pipe Line LLC, and Speedway LLC. MPC is the nation’s fifth largest refiner and the largest refiner in the Midwest. MPC’s refining, marketing and transportation operations are concentrated primarily in the Midwest, Gulf Coast and Southeast regions of the U.S. MPC operations are strategically located to serve major markets. They include a six-plant refining network, a comprehensive terminal and transportation system, and extensive wholesale and retail marketing operations. This includes both the Marathon Brand and MPC’s wholly owned retail marketing subsidiary, Speedway LLC, the nation’s fourth largest chain of company-owned and operated retail gasoline and convenience stores.

Exxon Mobil Corporation is an American multinational oil and gas corporation headquartered in Irving, Texas. It is the largest direct descendant of John D. Rockefeller's Standard Oil Company, and was formed on November 30, 1999 by the merger of Exxon (formerly Standard Oil Company of New Jersey) and Mobil (formerly the Standard Oil Company of New York).

PBF Energy, Inc. engages in the operation of a petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments. The Refining segment refines crude oil and other feedstocks into petroleum products. The Logistics.segment owns, leases, operates, develops, and acquires crude oil and refined petroleum products terminals, pipelines, storage facilities, and similar logistics assets. The company was founded on March 1, 2008 and is headquartered in Parsippany, NJ.

Key Stats and Financials As of 2019
Market Capitalization
$5.9B
Total Enterprise Value
$27.2B
Earnings Per Share
$2.65
Revenue
$33.4B
Net Profit
$2.16B
EBITDA
$2.28B
EBITDAMargin
6.85%
Total Debt
$10.2B
Total Equity
$13.2B
Enterprise Value Sales
0.82x
Enterprise Value EBITDAOperating
11.71x
TEVNet Income
12.58x
Debt TEV
0.37x
Non-Profit Donations & Grants
Non-Profit Donations & Grants Received
Investments
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PAA Natural Gas Storage LLC develops and operates natural gas storage facilities. It has offices in Michigan and South Louisiana. PAA Natural Gas Storage operates as a subsidiary of PAA/Vulcan Gas Storage LLC. The company was founded in 2005 and is headquartered in Houston, TX

Suppliers
Matrix Service Co. Other Business & Consulting Services | Tulsa, OK

Since 1984, Matrix Service Company employees have earned our company a reputation for outstanding performance across North America. Through our businesses - Matrix Service, Matrix SME and Matrix PDM Engineering - we're known for completing even the most demanding projects on time, to the highest quality standards and, above all, safely. In all the services we provide - from engineering, electrical and construction to fabrication, maintenance and repair - the proof is in our performance.

PrimeEnergy Resources Corp. Oil & Gas | Houston, TX

PrimeEnergy Resources Corp. engages in the acquisition, developing and producing oil and natural gas. It owns producing and non-producing properties located primarily in Texas, Oklahoma and West Virginia. The company was founded in March 1973 and is headquartered in Houston, TX.

Energen Corp. Oil & Gas | Birmingham, AL

Energen Corporation is a growing oil and gas exploration and production company complemented by a single-state natural gas utility. Headquartered in Birmingham, Alabama, Energen has approximately 900 million barrels of oil-equivalent proved, probable, and possible reserves. The bulk of these all-domestic, all-onshore reserves are located in the Permian and San Juan basins. Over the last several years, Energen has positioned itself as a major producer of oil and natural gas liquids through acquisitions and drilling in the Permian Basin. Total liquids production in 2013 is estimated to increase more than 86 percent from 2010 levels and reflect a three-year compound average growth rate of 23-26 percent. A top 20 independent producer on the basis of U.S. proved reserves at year-end 2010, Energen’s exploration and production subsidiary is capitalizing on its balance sheet strength and financial capacity to embark in 2012 on another record year of capital investment to drill and develop its liquids-rich Permian assets. The company plans to continue developing its extensive Wolfberry inventory while pursuing multiple opportunities in the Permian’s Delaware Basin; these include the 3rd Bone Spring sands, the Avalon and Wolfcamp shales, and the Wolfbone play. Energen’s legacy business is natural gas distribution in Alabama. Regulated by the Alabama Public Service Commission, the largest gas utility in Alabama provides clean-burning, energy-efficient natural gas to more than 425,000 homes, businesses and industries. The utility is the primary contributor to Energen’s dividend, returning more than 65 percent of its net income to shareholders each year. Energen has paid a dividend each year since its inception in 1953, and the Energen Board of Directors has increased the cash dividend for 29 consecutive years.

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