Plains All American Pipeline Completes Acquisition of Crude Rail Terminals from U.S. Development Group
HOUSTON--(BUSINESS WIRE)-- Plains All American Pipeline, L.P. (PAA) (NYSE:PAA) today announced that it has closed the previously announced $500 million acquisition of four operating crude rail terminals, one terminal under development and various contractual arrangements from U.S. Development Group.
PAA has posted a presentation that contains additional information regarding the companys network of crude oil and NGL rail assets on the Partnership Presentations tab of the Investor Relations section of its website: http://ir.paalp.com/Presentations.
Plains All American Pipeline, L.P. is a publicly traded master limited partnership engaged in the transportation, storage, terminalling and marketing of crude oil and refined products, as well as in the processing, transportation, fractionation, storage and marketing of natural gas liquids. Through its general partner interest and majority equity ownership position in PAA Natural Gas Storage, L.P., PAA owns and operates natural gas storage facilities. PAA is headquartered in Houston, Texas.
Plains All American Pipeline, L.P.
Roy I. Lamoreaux, 713/646-4222 800/564-3036
Director, Investor Relations
Brad Leone, 713/646-4196
Source: Plains All American Pipeline, L.P.Copyright Business Wire 2012