As a part of the acquisition, Plains purchased 64.3km of crude oil/condensate gathering pipelines which have an output capacity of about 50,000 barrels per day.
The acquired assets also include 150,000 barrels of existing crude oil and condensate storage capacity; an under-construction storage capacity of 300,000 barrels and a truck unloading terminal.
PAA will benefit from the deal as the acquired gathering assets complement its existing crude oil and condensate gathering systems.
In addition, Chesapeake has provided long-term acreage dedications of future production in Webb and Dimmit counties.
The company owns around 18,000 miles of liquids pipelines, 120 million barrels of liquids storage capacity and over 3 million barrels of physical product.
Plains All American Pipeline engages in transportation, storage, terminalling and marketing and processing of crude oil, refined products and natural gas liquids.
