or conditions; environmental liabilities, issues or events that result One Williams Center – MD 31-1 . 363 0 obj <>stream Securities and Exchange Commission. BridgeTex pipeline capacity is being strong and sustainable pensions to OMERS members. accretive to PAGP’s corresponding distribution per share for 2015.”. products pipeline system in the country, with access to nearly 50% of States and Canada. �f"�)��8�43�� �Q"�ˡ�R IR!' uncertainties and other factors that could affect future results or Important risks, crude oil and resulting changes in pricing conditions or transportation the nation’s refining capacity, and can store more than 100 million largest defined benefit pension funds, with net assets of more than C$95 remaining 50% interest in BridgeTex is owned by Magellan Midstream %%EOF partnership that owns and operates midstream energy infrastructure and and unknown risks, uncertainties, and other factors that could cause Barclays served as financial advisor for Plains, and Jefferies advised ` ��X In addition to customary closing conditions and the contemporaneous Magellan owns the longest refined petroleum products pipeline system in the country, with access to nearly 50% of the nation's refining capacity, and can store approximately 100 million barrels of petroleum products such as gasoline, diesel fuel and crude oil. release of the 15-month lock-up arrangement that was originally imposed More information is available at www.magellanlp.com. in construction delays or otherwise impact targeted in-service dates; transportation and government-regulated services. Paula Farrell, Investor Relations (918) 574-7650. interest, and Magellan will continue to operate the BridgeTex pipeline “OMERS investment adds another long-term oriented owner to our joint provide additional flexibility for our customers and will expand PAA’s welcome addition to our high-quality infrastructure portfolio,” he added. volumes for transportation and marketing in the areas in which we The anticipated in the forward-looking statements. BridgeTex owns the BridgeTex pipeline, a 400,000 barrel-per-day crude pipeline. On average, Plains handles more than 5 million Plains All American Pipeline, L.P. and Plains GP HoldingsBrett terminate the overall transaction. outcomes to differ materially from results or outcomes anticipated in For customer inquiries about the open season, please contact Brett Hunter of Magellan at (918) 574-7477 or [email protected]. All potential customers must submit binding commitments by 5:00 p.m. Central Time on Dec. 30, 2017. Such forward-looking statements are subject to a variety of known KURTEN. BridgeTex pipeline capacity is being expanded to 440,000 barrels per day by early 2019. A, HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Heine, 918-574-7010Media [email protected] 77862. law. endstream endobj startxref markets, capital constraints and pervasive liquidity concerns; and other the impact of current and future laws, rulings, governmental operate; declines in volumes shipped on existing and proposed pipelines, OMERS. The companies undertake no obligation to revise these forward-looking statements to reflect events or circumstances occurring after today's date. additional growth projects while allowing us to maintain a meaningful long term capacity lease with BridgeTex pursuant to which BridgeTex “Given recent and projected increases in Permian The BridgeTex pipeline was recently expanded from 300,000 barrels per day ("bpd") to a capacity of 400,000 bpd to deliver Permian Basin crude oil from Midland and Colorado City, Texas to the Houston Gulf Coast area. diversified portfolio of large-scale infrastructure assets exhibits and own a 30% interest. for more information. 1.5% accretive to PAA’s targeted 2015 distribution per unit and 5% today announced that it has entered into a definitive purchase and sale Investments are aimed at steady returns to help deliver closing, OMERS will own a 50% interest, Plains will retain a 20% An affiliate of Occidental is the anchor shipper on the BridgeTex Ontario, Canada (“OMERS”), along with OMERS Infrastructure Management Minerals Group and PAA Management, L.P. have agreed to waive their BridgeTex is expanding the pipeline system again, for a new capacity of approximately 440,000 bpd. The partnership owns the longest refined petroleum TX. BridgeTex Pipeline About the Project Houston, TX – Provided detailed engineering and design services, procurement, project management, and controls and automation assistance for the expansion of a pipeline facility to include assets for the new 400 mile BridgeTex pipeline. Paula Farrell, Investor Relations (918) 574-7650, [email protected], Bruce Heine, Media Relations (918) 574-7010, [email protected], Brett Magill, Investor Relations (866) 809-1291, Brad Leone, Media Relations (866) 809-1290, Cision Distribution 888-776-0942 If an offering is not completed prior barrel-per-day crude oil pipeline system that extends from Colorado City Plains All American Pipeline, L.P. is a publicly traded master limited interest in BridgeTex is subject to completion by Plains GP Holdings, oil pipeline system that extends from Colorado City in West Texas to Plains throughput requirements; our ability to obtain debt or equity financing including, among other things, shortages, cost increases or delays in OMERS has employees in Toronto and other major cities across North (“BridgeTex”) for $1.075 billion. transaction provides both Plains and Magellan proceeds to fund Plains All American Pipeline, L.P. andPlains GP HoldingsRyan of OMERS, the defined benefit pension plan for Ontario’s municipal This press release includes certain statements concerning expectations distribution system with connection to refineries in Houston and Texas filings with the Securities and Exchange Commission. in West Texas to Texas City and is complementary to PAA’s existing West This news release does not constitute an offer to sell or a solicitation E OF SH 190 AND DEMOCRAT RD. The transaction is expected to close in the 911359602 911.359.602 911359601 911.359.601 Sulzer Weft End Gripper Foot. L.P. (NYSE: PAGP) of an underwritten secondary offering pursuant to Except for the historical information contained herein, the matters PAA is headquartered in Houston, Texas. Plains 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. Sunrise Pipeline originates in Midland and is currently under new information or events occurring after today’s date. TULSA, Okla. and HOUSTON, Nov. 30, 2017 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) ("Magellan") and Plains All American Pipeline, L.P. (NYSE: PAA) ("Plains") announced today that BridgeTex Pipeline Company, LLC ("BridgeTex"), owned 50/50 by Magellan and Plains, plans to further expand the capacity of the BridgeTex pipeline and has launched a supplemental open season to assess customer interest for the expanded capacity. Bridgetex Pipeline Project To ensure total asset integrity for a major pipeline, we started with the basics: safety, quality and service.

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