Welcome to our dedicated page for Plains GP Holdings, L.P. news (Ticker: PAGP), a resource for investors and traders seeking the latest updates and insights on Plains GP Holdings, L.P. stock.
Plains GP Holdings, L.P. reports news tied to its ownership interests in Plains All American Pipeline, a North American midstream energy and logistics partnership. PAGP holds an indirect, non-economic controlling general partner interest and an indirect limited partner interest in PAA, whose assets support crude oil, natural gas liquids and natural gas transportation, gathering, storage and terminalling in the United States and Canada.
Recurring updates include earnings timing, cash distributions on PAGP Class A securities, PAA partnership distributions, and corporate developments affecting midstream assets, financing and capital allocation.
Plains All American Pipeline (PAA) and Plains GP Holdings (PAGP) agreed to acquire SCM PR II, LLC (“Silver Creek”) for approximately $585 million in cash. Silver Creek operates a large integrated crude oil gathering system in the Powder River Basin that already connects to Plains’ Rockies infrastructure via the Guernsey and Fort Laramie hubs.
The acquired assets include about 600 miles of crude oil gathering and transmission pipelines, more than 350,000 barrels per day of operating capacity, roughly 1.2 million barrels of operational storage, and a 49% non‑operated interest in the Powder River Gateway joint venture, including Iron Horse and Powder River Express. The system currently handles around 125,000 barrels per day of throughput.
The footprint is supported by 915,000 dedicated acres across long‑term dedications and minimum volume commitments, with a weighted‑average contract tenor of more than eight years. The transaction is expected to close in the fourth quarter of 2026, subject to customary conditions including Hart‑Scott‑Rodino clearance. Plains said the deal meets its internal return thresholds of 300‑500 basis points above its cost of capital.
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.
Malta Inc., a leader in long-duration energy storage (LDES), has appointed Alexandra Pruner as Board Chair, marking a significant milestone as the only LDES company with women in both CEO and Board Chair roles. Pruner, a veteran in energy and finance, aims to accelerate Malta's commercial deployments in a sector witnessing rapid growth due to rising energy storage demands. Under her leadership, Malta's board will consist of a majority of women, reinforcing its commitment to diversity and effective energy solutions.
Plains All American Pipeline (PAA) and Plains GP Holdings (PAGP) will release their Q4 and full-year 2020 earnings after market close on February 9, 2021. A joint webcast will take place on the same day at 5:30 p.m. ET. Key topics to discuss include PAA's financial performance, capitalization, and operating guidance. The presentation and audio replay will be available on their website. PAA is a leading midstream energy company handling over 6 million barrels per day of crude oil and NGL.
Plains All American Pipeline (PAA) and Plains GP Holdings (PAGP) announced their quarterly distributions for Q4 2020. PAA's cash distribution remains at $0.18 per common unit ($0.72 annualized), mirroring November 2020 levels. Similarly, PAGP maintains a distribution of $0.18 per Class A share ($0.72 annualized). PAA also declared a quarterly cash distribution of $0.525 for its Series A Preferred Units, totaling $2.10 annually. Distributions are payable on February 12, 2021, to record holders as of January 29, 2021, with PAGP's distribution potentially classified as a non-taxable return of capital.