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Plains All American Pipeline, L.P. (PAA)

  • Aug. 27, 2013, 5:38 PM
    • PAA Natural Gas Storage (PNG) +6.7% AH after receiving a buyout proposal from Plains All American Pipeline (PAA) for all outstanding publicly held common units through a unit-for-unit exchange.
    • The proposed consideration represents a value of $22.74/unit based on the trailing 10-day average closing price of PAA's common units through Aug. 26.
    | 1 Comment
  • Aug. 18, 2013, 8:30 AM
    • U.S. pipeline operators have a problem - finding cracks before they rupture and turn into oil spills.
    • The "number one asset," a torpedo-like robot called a "smart pig," can't always spot the fissures, or the data collected can take months to analyze.
    • A case in point came when Exxon Mobil (XOM) inspected a pipeline in Arkansas in February using a smart pig, only for the line to split open a month later and spill 5,000 barrels of crude. The device didn't find the minute cracks along the seam of the pipe that caused the burst.
    • The boom in U.S. oil output is straining the country's 184,000 miles of pipeline, with the volume of spillages jumping by 77% so far this year to 93,000 barrels.
    • Companies affected include EEQ, EEP, BKEP, MWE, KMR, KMP, SXE, EPD, PAA MMP, HEP and PSXP.
  • Aug. 14, 2013, 6:28 PM
    • Plains All American (PAA) says it is discontinuing its joint pursuit with Keyera (KEYUF.PK) of the construction and operation of the proposed Western Reach Pipeline system in Alberta's Deep Basin.
    • PAA says it will continue to evaluate opportunities to participate in the region through the construction of an NGL and condensate pipeline system similar to Western Reach or expansion of existing pipelines or facilities.
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  • Aug. 5, 2013, 6:23 PM
    • Plains All American's (PAA) Q2 earnings tumbled 23% Y/Y, while gas-storage affiliate PAA Natural Gas Storage's (PNG) Q2 earnings slipped 2.5% as the companies were hurt by higher operating costs.
    • At Plains, operating margin fell to 3.7% from 4.7%; operating expenses increased 6.3%; again raised its capital spending view for the year, to $1.6B from $1.4B.
    • At PAA Natural Gas, revenue from hub services and merchant storage, which includes natural gas sales, rose 22%; operating costs rose 18%.
    • PAA -1.9% AH.
  • Aug. 5, 2013, 4:17 PM
    • Plains All American Pipeline (PAA): Q2 EPS of $0.56 misses by $0.06.
    • Revenue of $10.29B (+5.2% Y/Y) beats by $520M. (PR)
    | 1 Comment
  • Aug. 5, 2013, 12:10 AM
  • Aug. 4, 2013, 5:35 PM
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  • Jul. 29, 2013, 6:41 PM
    • Plains All American Pipeline (PAA) affiliate Plains GP Holdings files for an IPO to raise up to $1B in shares.
    • The newly formed company will own limited partner interests in Plains AAP, which owns a 2% general partner stake in PAA.
    • The NYSE ticker is expected to be PAGP.
  • Jul. 11, 2013, 10:47 AM
    Oppenheimer continues to like top MLPs, noting that the Alerian MLP index (AMJ) outperformed the S&P 500 in three of the past five times interest rates have risen. For the MLPs under its coverage, Oppy's analysts forecast median 2014 distribution growth of 5.6%. The firm's MLPs to buy: EPD, RGP, EEP, PAA, BBEP, LRE, EVEP, MCEP, NSLP.
  • Jun. 27, 2013, 12:49 PM
    As the controversy intensifies over whether or not the U.S. approves the Keystone XL pipeline, it seems that the oil will continue to flow across North America. At least 37 other pipeline projects are now planned or underway in the U.S.
  • Jun. 25, 2013, 2:28 PM
    Plains All American (PAA +0.8%) is raised to Buy from Neutral with a $61 price target at Ladenberg Thalmann, which says recent price weakness creates an opportunity as fundamentals are strong and growth prospects are intact. The firm believes PAA "is well positioned to potentially reap numerous benefits as supply and demand patterns in North America continue to evolve."
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  • Jun. 24, 2013, 2:28 PM
    The recent volatility in interest rates, commodity prices and overall markets strengthens  Deutsche Bank's conviction that the best performers among MLPs will be the most visible dividend and distribution growth entities with minimum commodity risk and maximum opportunities for accretive organic growth. DB's favorites: ENB, KMI, SE, SEMG, ACMP, EPD, PAA.
  • Jun. 17, 2013, 9:29 AM
    Plains Midstream Canada, a subsidiary of Plains All American Pipeline (PAA), has shut its Kemp pipeline after a recent spill of ~950 barrels of oil in Alberta. It's strike two for PAA in the area, as Alberta's government in April laid charges against Plains Midstream Canada for a 2011 pipeline rupture that resulted in the province’s largest oil spill in 36 years.
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  • Jun. 7, 2013, 11:35 AM
    Enbridge Energy Partners (EEP +1.1%) is allowed to limit the amount of sulfide gas in crude oil shipped on its pipeline into its rail loading terminal in North Dakota, the FERC ruled late yesterday. EEP was seeking to limit the amount of the potentially harmful gas in the delivered crude to 5 ppm, but Plains All American (PAA), Hess (HES) and Marathon Oil (MRO) had complained about how this would affect their business.
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  • May. 31, 2013, 10:33 AM
    Even as rising interest rates and lower oil and natural gas prices impact valuations across the MLP sector, Deutsche Bank continues to view the sector favorably because of its organic growth, rising dividends and distributions, and still historically low costs of capital. The firm's latest report points to still attractive fundamentals for its top MLPs to buy: EPD, KMP, PAA, WES, ACMP, RRMS.
  • May. 29, 2013, 5:54 PM
    Low interest rates have helped MLPs raise capital at a reasonable cost, enabling returns well above their cost of capital and supporting cash distribution growth, but Simmons analysts say investor interest should remain strong even as rates rise - though due diligence will be more important than ever. Darren Schuringa says it's crucial to measure an MLP’s coverage ratio rather than the actual money it pays out.
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Company Description
Plains All American Pipeline LP is 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.