The assets include a 34% interest in White Cliffs Pipeline, an 11% interest in Capline pipeline, liquids terminals in West Texas and Canada, and land on which PAA currently owns and operates LPG storage assets.
The White Cliffs Pipeline interest will be purchased indirectly from SemGroup in conjunction with the exercise of purchase options by subsidiaries of Western Gas Partners and Noble Energy.
White Cliffs Pipeline owns a 526-mile, 12-inch common-carrier crude oil and condensate pipeline that originates in Platteville, Colorado and terminates in Cushing, Oklahoma.
PAA has also acquired an approximate 11% interest in the Capline pipeline system from a subsidiary of BP, which increased PAA’s interest in Capline to approximately 54%.
Capline is a 633-mile, 40-inch mainline crude oil pipeline that originates in St James, Louisiana, and terminates in Patoka, Illinois.
The operating capacity of Capline is approximately 1.1 million barrels per day, with approximately 600,000 barrels per day of capacity attributable to PAA’s aggregate interest.
Other acquired assets are 12 storage tanks with a combined capacity of 55,000 barrels, 34 miles of pipeline, a truck and rail terminal and approximately 20 acres of land.
