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.
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Plains All American Pipeline (PAA) will announce its first-quarter 2023 earnings on May 5, 2023, before market open. A joint webcast with Plains GP Holdings (PAGP) is scheduled for the same day at 10:00 a.m. ET. The call will address PAA's performance for the quarter, its capitalization and liquidity, and provide financial guidance for 2023. The accompanying presentation will be available on their website prior to the call. Following the live call, an audio replay and transcript will be accessible on their investor relations page. PAA operates a vast midstream energy infrastructure, handling over 7 million barrels per day of crude oil and natural gas liquids in North America.
On April 6, 2023, Plains All American Pipeline (PAA) and Plains GP Holdings (PAGP) announced their first quarter cash distributions, payable on May 15, 2023. PAA will distribute $0.2675 per Common Unit and PAGP $0.2675 per Class A Share, both unchanged from February 2023. PAA Series A Preferred Units will receive $0.58516, reflecting a pro-rated adjustment, while Series B Preferred Units will get $22.18 each. Notably, the PAGP distribution is expected to be a non-taxable return of capital up to the shareholder’s tax basis. PAA is a significant player in midstream energy, managing over 7 million barrels per day of crude oil and natural gas liquids across a vast pipeline network in North America.
On February 13, 2023, Plains All American (PAA) announced the successful closure of a transaction involving the sale of its non-operated interest in the Keyera Fort Saskatchewan facility to Keyera for approximately $367 million CAD ($271 million USD). This strategic move is expected to enhance connectivity to the Plains Fort Saskatchewan complex while achieving an attractive multiple. Plains All American specializes in midstream energy infrastructure, managing logistics services for crude oil and natural gas liquids.
Plains All American Pipeline (PAA) reported a net income of $263 million for Q4 2022 and $1.04 billion for the full year. Adjusted EBITDA for Q4 was $659 million, totaling $2.51 billion for the year. The company provided a 2023 outlook of $2.45 to $2.55 billion in Adjusted EBITDA and expects to generate $1.60 billion in Free Cash Flow. PAA announced a distribution increase of $0.20 to $1.07 per unit, effective February 2023. Additionally, a multi-year capital allocation framework was introduced to enhance shareholder returns and financial flexibility.