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)

4,400

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

Chairman & Chief Executive Officer

Director & President

Executive Vice President & Chief Financial Officer

Executive Vice President & Chief Operating Officer

Executive Vice President, General Counsel & Secretary

Executive Vice President & Chief Commercial Officer

Senior Vice President & Chief Accounting Officer

President, Plains Midstream Canada of Plains All American GP LLC

Vice President, Controller

Managing Director-Internal Audit

Board of Directors

Co-Founder at KA Fund Advisors LLC

Co-Founder at EMG Fund II Management LP

General Partner at Oasis Petroleum, Inc.

Founder & President at DelTex Capital LLC

Director & President at Plains All American Pipeline LP

Founder at EnCap Investments LP

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

Manager-Planning & Business Development at Unocal Corp.

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.

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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. They evaluate companies operating in both the energy and global water value chains to gain a better understanding of the impact on their respective investments. Tortoise Capital Advisors has primary coverage on all midstream MLPs and pipeline c-corporations in the investment universe, and a majority of the large energy and power companies. They 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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Oaktree Capital Management (Private Equity), Hartree Partners LP purchase Plains All American Pipeline LP /Two Gas Storage Facilities from Plains All American Pipeline LP

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Plains All American Pipeline LP, Plains Midstream Canada ULC purchase Inter Pipeline Ltd. /Empress Ii & Empress V Straddle Plants from Inter Pipeline Ltd.

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Zenith Energy LP, Zenith Energy U.S. LP purchase Plains All American Pipeline LP /3 Interconnected Terminals from Plains All American Pipeline 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

Vice Chairman at Texas Hearing Institute

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

Diamondback Energy, Inc. is an independent oil and natural gas company, which engages in the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves. It operates through the Upstream and Midstream Services segments. The Upstream segment focuses on the Permian Basin operations in West Texas. The Midstream Services segment involves in the Midland and Delaware Basins. The company was founded in December 2007 and is headquartered in Midland, TX.

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).

Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011. Following its acquisition of Andeavor on October 1, 2018, Marathon Petroleum became the largest petroleum refinery operator in the United States, with 16 refineries and over 3 million barrels per day of refining capacity. Marathon Petroleum ranked No. 41 on the 2018 Fortune 500 list of the largest United States corporations by total revenue. Marathon Petroleum's marketing system includes branded locations across the United States, including Marathon branded outlets. MPC also owns the general partner and majority limited partner interest in MPLX LP, a midstream company which owns and operates gathering, processing, and fractionation assets, as well as crude oil and light product transportation and logistics infrastructure.

Key Stats and Financials As of 2020
Market Capitalization
$7.56B
Total Enterprise Value
$19B
Earnings Per Share
$-3.83
EBITDAMargin
7.66%
Enterprise Value / Sales
0.8x
Enterprise Value EBITDAOperating
10.28x
TEVNet Income
-7.32x
Debt TEV
0.56x
EBITDA
$1.81B
Total Debt
$10.6B
Three Year Compounded Annual Growth Rate Of Revenue
-3.68%
Total Equity
$9.74B
Net Profit
$-2.59B
Revenue
$23.6B
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, and Oklahoma. The company was founded in March 1973 and is headquartered in Houston, TX.

Energen Corp. Oil & Gas | Montgomery, 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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