HOUSTON, June 26 /CNW/ -- Plains All American Pipeline, L.P. (NYSE: PAA)
announced today that it completed the sale of approximately 6.3 million common
units to a group of institutional and private investors pursuant to the Common
Unit Purchase Agreement dated June 20, 2007. Net proceeds from the issuance,
including the general partner's proportionate capital contribution and
expenses associated with the issuance were approximately $382.5 million. The
Partnership now has approximately 116 million common units outstanding.
Plains All American Pipeline, L.P. is engaged in the transportation,
storage, terminalling and marketing of crude oil, refined products and
liquefied petroleum gas and other natural gas related petroleum products.
Through its 50% equity ownership in PAA/Vulcan Gas Storage, LLC, the
Partnership also develops and operates natural gas storage facilities.
Headquartered in Houston, Texas, the Partnership's common units are traded on
the New York Stock Exchange under the symbol "PAA."
For further information:
For further information: Phil D. Kramer, Executive Vice President and
CFO, +1-713-646-4560, +1-800-564-3036; or Roy I. Lamoreaux, Manager, Investor
Relations, +1-713-646-4222, +1-800-564-3036, both of Plains All American
Pipeline, L.P. Web Site: http://www.paalp.com