Plains All American Pipeline LP Announces Divestment of NGL Business to Establish Midstream Crude Oil Pure Play

Reuters

2025/06/18

Plains All American Pipeline LP Announces Divestment of NGL Business to Establish Midstream Crude Oil Pure Play

Plains All American Pipeline LP has announced the divestment of its NGL business to Keyera, establishing a midstream crude oil pure play. The transaction, approved by both companies' boards, involves a total cash consideration of approximately $5.15 billion CAD, or $3.75 billion USD. Plains expects to receive around $3.0 billion USD in proceeds after taxes, expenses, and a special one-time distribution. The deal is expected to close in the first quarter of 2026, subject to customary closing conditions, including regulatory approvals. The divestment aims to enhance cash flow durability and financial flexibility while reducing commodity-related earnings and working capital needs. You can access the full presentation through the link below.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Plains All American Pipeline LP published the original content used to generate this news brief on June 17, 2025, and is solely responsible for the information contained therein.

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The transaction, approved by both companies' boards, involves a total cash consideration of approximately $5.15 billion CAD, or $3.75 billion USD. Plains expects to receive around $3.0 billion USD in proceeds after taxes, expenses, and a special one-time distribution. The deal is expected to close in the first quarter of 2026, subject to customary closing conditions, including regulatory approvals. The divestment aims to enhance cash flow durability and financial flexibility while reducing commodity-related earnings and working capital needs. You can access the full presentation through the link below.\n      </p>\n</div><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<em>Disclaimer: <span>This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Plains All American Pipeline LP published the original content used to generate this news brief on June 17, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PAGP","symbol_name":"Plains Group Holdings LP","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250617:nNDL5vF7z:1","article_id":"2544291830","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2544291830","pubTimestamp":1750192061,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Plains All American Pipeline LP has announced the divestment of its NGL business to Keyera, establishing a midstream crude oil pure play. 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The transaction, approved by both companies' boards, involves a total cash consideration of approximately $5.15 billion CAD, or $3.75 billion USD. Plains expects to receive around $3.0 billion USD in proceeds after taxes, expenses, and a special one-time distribution. The deal is expected to close in the first quarter of 2026, subject to customary closing conditions, including regulatory approvals. The divestment aims to enhance cash flow durability and financial flexibility while reducing commodity-related earnings and working capital needs. You can access the full presentation through the link below.\n      \n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. 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