Plains All American Pipeline, L.P.'s SEC filings document the partnership's midstream asset base, MLP governance and capital structure. The filings identify PAA common units as limited partner interests listed on Nasdaq and include proxy materials for annual meeting matters, governance disclosures and shareholder voting procedures.
Material-event filings cover operating results, credit facility amendments, senior note issuances by PAA and PAA Finance Corp., and acquisition records for the EPIC/Cactus III crude oil pipeline system. Related 8-K and 8-K/A disclosures include material agreements, debt obligations, acquired business financial statements and pro forma financial information tied to completed transactions.
Plains All American Pipeline, L.P. (PAA) filed a Form 4 reporting issuance of equity tied to a long-term incentive plan. On 08/14/2025, 144,500 Class A shares of Plains GP Holdings, L.P. were issued upon vesting of LTIP awards. Pursuant to an Omnibus Agreement, an equal number of AAP Class A units were issued to Plains GP Holdings, L.P., and PAA issued an equal number of Common Units to Plains AAP, L.P. After the transaction, the reporting group beneficially owns 233,000,430 Common Units indirectly through the described ownership chain. The filing is signed by Ann F. Gullion on 08/18/2025.
Plains All American Pipeline, L.P. reported lower consolidated revenues for the quarter as crude product sales declined versus prior-year periods while continuing to generate strong operating cash flow. Total revenues were $10,642 million for the three months ended June 30, 2025, down from $12,757 million a year earlier. Net income for the quarter was $297 million, with net income attributable to PAA of $210 million. For the six months, net income rose to $813 million compared with $681 million in 2024, and operating cash provided totaled $1,333 million.
PAA entered a definitive agreement to sell its Canadian NGL business to Keyera Corp. for approximately CAD$5.15 billion (about $3.75 billion), which the company classified as held for sale and presented as discontinued operations; income from discontinued operations was $70 million for the quarter and $206 million for the six months. Total assets were $27,155 million and total debt was $8,679 million at June 30, 2025. The company repurchased approximately 12.7 million Series A preferred units for ~$333 million and recorded certain derivative and foreign-exchange related items, including a $49 million loss on a deal-contingent forward currency instrument related to the pending Canadian NGL sale.
Plains All American Pipeline, L.P. filed a current report to furnish its second-quarter 2025 financial results. The partnership explains that it issued a press release on August 8, 2025 detailing these results, and has attached that release as Exhibit 99.1 to this report for investors to review.
The disclosure is made under items covering results of operations and Regulation FD. Plains All American clarifies that the press release information is being furnished rather than filed, which limits certain securities law liabilities and controls how the information is incorporated into other regulatory documents.