Plains All American Pipeline Acquires Williston Basin Crude Oil Terminal Under Construction
Plains All American Pipeline, L.P. (NYSE: PAA) today announced that it has acquired Legion Terminals, LLC, which owns a crude oil terminal under construction in Johnson’s Corner, McKenzie County, N.D. The terminal, which is expected to be in service in Q3 2015, is strategically positioned to serve as a crude oil logistics hub in the Williston Basin.
The terminal is located on approximately 60 acres of property and includes 500,000 barrels of crude oil storage, pipeline interconnects, truck facilities and other associated assets. The terminal is permitted for up to 2 million barrels of crude oil storage, 8 pipeline interconnects and 12 truck unloading stations.
Once in service, the terminal will complement Plains’ existing Williston Basin footprint and provide opportunities for additional connectivity to Plains assets. Plains’ Trenton crude oil gathering system and Manitou and Van Hook crude-by-rail facilities are all located within 50 miles of the terminal.
Plains All American Pipeline, L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (“NGL”), natural gas and refined products. PAA owns an extensive network of pipeline transportation, terminalling, storage and gathering assets in key crude oil and NGL producing basins and transportation corridors and at major market hubs in the United States and Canada. On average, PAA handles over 4.1 million barrels per day of crude oil and NGL on its pipelines. PAA is headquartered in Houston, Texas.
Forward Looking Statements
Certain matters discussed in this release are forward-looking statements that involve risks and uncertainties that could cause actual results or outcomes to differ materially from results or outcomes anticipated in the forward-looking statements. These risks and uncertainties include, among other things, shortages, cost increases or delays in receipt of supplies, materials or labor; inability to obtain, delays in the receipt of, or other issues associated with necessary licenses, permits, approvals, consents, rights of way or other governmental or third party requirements; the impact of current and future laws, rulings, orders, governmental regulations, accounting standards and statements and related interpretations; weather interference with business operations or project construction, including the impact of extreme weather events or conditions; environmental liabilities, issues or events that result in construction delays or otherwise impact targeted in-service dates; interruptions in service on third-party pipelines or facilities; general economic, market or business conditions and the amplification of other risks caused by volatile financial markets, capital constraints and pervasive liquidity concerns; and other factors and uncertainties inherent in the transportation, storage, terminalling and marketing of crude oil and refined products as discussed in PAA’s filings with the Securities and Exchange Commission.
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