Recent from talks
Plains All American Pipeline
Knowledge base stats:
Talk channels stats:
Members stats:
Plains All American Pipeline
Plains All American Pipeline, L.P. is a master limited partnership engaged in pipeline transport, marketing, and storage of liquefied petroleum gas and petroleum in the United States and Canada. Plains owns interests in 18,370 miles (29,560 km) of pipelines, storage capacity for about 75 million barrels of crude oil, 28 million barrels of NGLs, 68 billion cubic feet of natural gas, and 5 natural gas processing plants. The company is headquartered in the Allen Center in Downtown Houston, Texas. Plains (NASDAQ: PAA) is a publicly traded Master limited partnership. PAA owns an extensive network of pipeline transportation, terminalling, storage and gathering assets in key crude oil and NGL producing basins and transportation corridors at major market hubs in the United States and Canada.
The company began in 1981 as a small oil and gas exploration and production company called Plains Resources. It became a publicly traded company via an initial public offering in 1998.
Major acquisitions include:
The company earned a profit in nine of the ten calendar years from 2013 to 2022. It reported a $2.59 billion loss for calendar year 2020. Management attributed the 2020 loss to the COVID-19 global pandemic, which reduced demand for energy products. In response, the company recorded goodwill impairment losses and non-cash impairment charges of some $3.4 billion in 2020.
As of August 2023, Plains All American's senior unsecured debt was rated Baa3 by Moody's Investors Service, and BBB− by Fitch Ratings and S&P Global Ratings. All three ratings are generally considered "investment grade."
Plains All American Pipeline reported Total CO2e emissions (Direct + Indirect) for the twelve months ending 31 December 2020 at 1,929 Kt (-290 /-13.1% y-o-y).
In 2010, the company agreed to pay a $3.25 million civil penalty for violating the Clean Water Act and to spend $41 million to upgrade more than 10,000 miles of crude oil pipelines after the United States Environmental Protection Agency pressed charges regarding 10 pipeline spills in Texas, Louisiana, Oklahoma, and Kansas between June 2004 and September 2007 that spilled over 273,000 gallons of crude oil, some of which ended up in rivers, lakes, and oceans.
The 2011 Little Buffalo oil spill was one of the largest land-based oil spills in North America, the largest oil spill in Alberta in 36 years, and the second spill in Alberta within a two-week period. The Rainbow Pipeline system, owned by Plains Midstream Canada, ruptured on April 29, 2011, spilling 28,000 barrels of oil in a fairly isolated stretch of boreal forest in northern Alberta, about four miles from the nearest homes in Little Buffalo, Alberta. The local school was closed due to concerns about the effects of fumes. The incident resulted in charges against the company in 2013. In 2013, the Energy Resources Conservation Board of Alberta reprimanded the company for operational failures in connection with the oil spill.
Hub AI
Plains All American Pipeline AI simulator
(@Plains All American Pipeline_simulator)
Plains All American Pipeline
Plains All American Pipeline, L.P. is a master limited partnership engaged in pipeline transport, marketing, and storage of liquefied petroleum gas and petroleum in the United States and Canada. Plains owns interests in 18,370 miles (29,560 km) of pipelines, storage capacity for about 75 million barrels of crude oil, 28 million barrels of NGLs, 68 billion cubic feet of natural gas, and 5 natural gas processing plants. The company is headquartered in the Allen Center in Downtown Houston, Texas. Plains (NASDAQ: PAA) is a publicly traded Master limited partnership. PAA owns an extensive network of pipeline transportation, terminalling, storage and gathering assets in key crude oil and NGL producing basins and transportation corridors at major market hubs in the United States and Canada.
The company began in 1981 as a small oil and gas exploration and production company called Plains Resources. It became a publicly traded company via an initial public offering in 1998.
Major acquisitions include:
The company earned a profit in nine of the ten calendar years from 2013 to 2022. It reported a $2.59 billion loss for calendar year 2020. Management attributed the 2020 loss to the COVID-19 global pandemic, which reduced demand for energy products. In response, the company recorded goodwill impairment losses and non-cash impairment charges of some $3.4 billion in 2020.
As of August 2023, Plains All American's senior unsecured debt was rated Baa3 by Moody's Investors Service, and BBB− by Fitch Ratings and S&P Global Ratings. All three ratings are generally considered "investment grade."
Plains All American Pipeline reported Total CO2e emissions (Direct + Indirect) for the twelve months ending 31 December 2020 at 1,929 Kt (-290 /-13.1% y-o-y).
In 2010, the company agreed to pay a $3.25 million civil penalty for violating the Clean Water Act and to spend $41 million to upgrade more than 10,000 miles of crude oil pipelines after the United States Environmental Protection Agency pressed charges regarding 10 pipeline spills in Texas, Louisiana, Oklahoma, and Kansas between June 2004 and September 2007 that spilled over 273,000 gallons of crude oil, some of which ended up in rivers, lakes, and oceans.
The 2011 Little Buffalo oil spill was one of the largest land-based oil spills in North America, the largest oil spill in Alberta in 36 years, and the second spill in Alberta within a two-week period. The Rainbow Pipeline system, owned by Plains Midstream Canada, ruptured on April 29, 2011, spilling 28,000 barrels of oil in a fairly isolated stretch of boreal forest in northern Alberta, about four miles from the nearest homes in Little Buffalo, Alberta. The local school was closed due to concerns about the effects of fumes. The incident resulted in charges against the company in 2013. In 2013, the Energy Resources Conservation Board of Alberta reprimanded the company for operational failures in connection with the oil spill.