Plains Extends Mesa Pipeline Agreement
Plains All American Pipeline, L.P. reports that the remaining two owners of the Mesa Pipe Line System, Plains Pipeline, L.P. and Sunoco Pipeline, L.P., have entered into an agreement that extends the Mesa Pipe Line System Agreement through December 31, 2009. The System Agreement, which governs the operation of the system, was previously set to expire on June 30, 2006. Mesa transports crude oil from Midland to Colorado City, Texas. On April 19, 2006, Plains announced that it had acquired an additional 9.5% interest in Mesa, increasing its interest to 63.0%.
Plains All American Pipeline, L.P. is engaged in interstate and intrastate
crude oil transportation and crude oil gathering, marketing, terminalling and
storage, as well as the marketing and storage of liquefied petroleum gas and
other petroleum products, in the United States and Canada. Through its 50%
ownership in PAA/Vulcan Gas Storage LLC, the Partnership is engaged in the
development and operation of natural gas storage facilities. The Partnership's
common units are traded on the New York Stock Exchange under the symbol "PAA."
The Partnership is headquartered in Houston, Texas.
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