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Stock impact report

Plains All American Announces Expansion and Joint Venture of Red River Pipeline with Delek Logistics

Plains All American Pipeline, L.P. - Common Units representing Limited Partner Interests (PAA) 
Last plains all american pipeline, l.p. - common units representing limited partner interests earnings: 2/4 04:16 pm Check Earnings Report
US:NYSE Investor Relations: plainsallamerican.com/investor-relations
Company Research Source: Business Wire
HOUSTON--(BUSINESS WIRE)-- Plains All American Pipeline (NYSE: PAA) today announced a capital-efficient expansion and new joint venture of its existing Red River Pipeline system. Delek Logistics Partners, LP (NYSE: DKL) has purchased from a Plains’ subsidiary a 33% ownership interest in a new Red River Pipeline Company LLC joint venture for $128 million. Plains retained a 67% interest in the joint venture and will continue to operate the Red River system. In support of this expansion, Delek US (NYSE: DK) increased its long-term throughput and deficiency (“T&D”) agreement on the Red River system from an existing 35,000 barrels per day to 100,000 barrels per day. The expansion enables additional volume pull-through from Cushing and the Permian to the U.S. Gulf Coast markets, providing additional supply optionality for shippers. “This is a win-win deal that fits our strategy of optimizing and expanding exis Show less Read more
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