Welcome to our dedicated page for Plains All Amer news (Ticker: PAA), a resource for investors and traders seeking the latest updates and insights on Plains All Amer stock.
Plains All American Pipeline, L.P. operates as a publicly traded master limited partnership focused on midstream energy infrastructure and logistics for crude oil and natural gas liquids. Its network includes pipeline gathering and transportation systems, terminals, storage, processing, fractionation and related assets serving producing basins, transportation corridors, market hubs and export outlets in the United States and Canada.
Recurring PAA news covers operating and financial results, quarterly cash distributions on common and preferred units, capital-structure updates, material agreements and portfolio actions. Company updates also include developments tied to crude oil systems such as EPIC/Cactus III, NGL infrastructure, credit and debt financing activity, and coordination with Plains GP Holdings on distribution and earnings announcements.
Plains All American (PAA) priced a $1.5 billion underwritten public offering of junior subordinated notes, consisting of $700 million 6.750% Series A Notes due 2056 and $800 million 7.000% Series B Notes due 2056.
Both series are offered at 100% of face value. Their interest rates will reset based on the Five-Year U.S. Treasury Rate plus a spread on December 15, 2031 for Series A and December 15, 2036 for Series B, and every five years thereafter, with floors at their initial coupons. PAA may redeem each series in the 90 days before its first reset date and on subsequent interest payment dates. Closing is expected on September 14, 2026, subject to customary conditions. Net proceeds, together with cash and commercial paper, are intended to redeem all outstanding Series A Preferred Units around September 14, 2026 and Series B Preferred Units around October 9, 2026, plus accrued distributions.
Plains All American Pipeline (Nasdaq: PAA) reported second-quarter 2026 net income attributable to PAA of $1.83 billion, including an estimated $1.6 billion gain from the sale of its Canadian NGL Business. Net cash provided by operating activities was $956 million, and Adjusted EBITDA attributable to PAA was $738 million.
PAA used sale proceeds to reduce debt by about $2.9 billion, resulting in a pro forma leverage ratio of 3.3x, near the low end of its 3.25x–3.75x target. The partnership paid a quarterly cash distribution of $0.4175 per unit (10% higher year over year), or $1.67 annualized, implying a distribution yield of roughly 7%.
Second-quarter Adjusted EBITDA from crude oil rose 19% year over year to $690 million, helped by the Cactus III acquisition, higher pipeline volumes and optimization. Adjusted EBITDA from NGL fell 54% to $40 million, mainly due to the Canadian NGL divestiture completed on May 12, 2026.
PAA increased its 2026 organic growth capital budget from $350 million to $400–$450 million, including a planned 75 Mbbl/d expansion of the Cactus III pipeline and additional Canadian and Permian gathering projects. Maintenance capital guidance was reduced by $10 million to $175 million, largely reflecting timing tied to the NGL divestiture.
Plains All American Pipeline (Nasdaq:PAA) and Plains GP Holdings (Nasdaq:PAGP) declared second quarter 2026 distributions and set earnings timing.
PAA and PAGP will pay $0.4175 per common unit/Class A share on August 14, 2026, and release Q2 2026 earnings on August 7, 2026.
Plains All American (Nasdaq:PAA) announced that its 2025 Schedule K-3, covering items of international tax relevance, is now available online for unitholders.
Access is via www.taxpackagesupport.com/plainsallamerican, with email copies available through Tax Package Support at (866) 872-2829.
Plains All American Pipeline (Nasdaq:PAA) and Plains GP Holdings (Nasdaq:PAGP) updated 2026 capital spending guidance. Growth capital is now expected at $400–$450 million net to PAA, up from about $350 million, while maintenance capital remains near $185 million.
The higher budget funds Permian and Canadian gathering projects, including the New Mexico Delaware Basin, which are expected to support Plains’ EBITDA profile in 2027 and align with stronger oil market conditions and plans to return more capital to unitholders.
Plains All American Pipeline (Nasdaq:PAA) and Plains GP Holdings completed the sale of Plains Midstream Canada, which held most of PAA’s Canadian NGL business, to Keyera.
The deal generated about $3.3 billion in net cash, to be used mainly for debt repayment, and is expected to move leverage toward the middle of Plains’ 3.25–3.75x target range.
Plains All American Pipeline (Nasdaq:PAA) and Plains GP Holdings (Nasdaq:PAGP) appointed Cynthia B. Taylor as an independent Class III director of PAA GP Holdings.
She will serve on the Compensation and Health, Safety, Environmental and Sustainability committees and brings 30+ years of energy-sector and public company leadership experience.
Plains All American (Nasdaq: PAA) reported Q1 2026 results and raised full‑year guidance. Q1 net income attributable to PAA was $152 million; Q1 Adjusted EBITDA attributable to PAA was $730 million. Pro forma leverage was 4.1x at quarter‑end. The company increased the midpoint of 2026 Adjusted EBITDA guidance by $130 million to $2.880 billion ± $75 million and raised full‑year Adjusted Free Cash Flow guidance to approximately $1.85 billion (excluding certain items). The pending Canadian NGL divestiture is expected to close in May 2026 and has been classified as discontinued operations.
Plains All American Pipeline (Nasdaq: PAA) and Plains GP Holdings provided an update on the planned sale of their Canadian NGL business to Keyera Corp.
PAA and affiliates received a filing from the Canadian Competition Bureau challenging the transaction; the filing does not legally block closing. Keyera and PAA intend to close the deal in May 2026. Completion will make Plains a pure play crude oil midstream company with integrated Canada-to-Gulf Coast assets.
Plains All American Pipeline (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) declared quarterly cash distributions for Q1 2026 payable May 15, 2026, to holders of record May 1, 2026. PAA and PAGP distributions are $0.4175 per common/unit; PAA Series A is $0.61524; Series B quarterly floating distribution is $19.84.
The companies warned part of PAGP’s 2026 distributions may be taxable as dividends due to a pending NGL assets sale and said Form 8937 will clarify tax treatment. Q1 2026 earnings release is scheduled pre-market May 8, 2026, with a 9:00 a.m. CT earnings call.