Plains All American Pipeline
A publicly traded North American midstream energy partnership focused on transporting, storing, gathering, marketing, and processing crude oil and natural gas liquids.
Last updated October 14, 2026
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Overview
Plains All American Pipeline, commonly known as Plains, is a publicly traded master limited partnership that operates midstream energy infrastructure in the United States and Canada. Its business sits between producers and downstream markets: the company gathers crude oil and natural gas liquids from producing regions, transports them through pipeline systems, stores them in terminal and tank assets, and provides logistics and marketing services that connect supply basins with refineries, export facilities, and other consuming markets. The business originated in 1981 as Plains Resources, a smaller oil and gas exploration and production company. It became publicly traded through an initial public offering in 1998 and subsequently developed into a large infrastructure and logistics operator through acquisitions, asset purchases, joint ventures, and organic projects. Key transactions included the acquisition of the All American Pipeline System in 1998, pipeline and midstream assets from Chevron and Murphy Oil, the Canadian CANPET Energy Group, the Capline and Link Energy systems, Louisiana assets from Shell, and Pacific Energy Partners. The Pacific Energy transaction in 2006 substantially expanded Plains’ presence in crude oil transportation and storage. Later additions included the Rainbow pipeline in northern Alberta, BP’s Canadian natural gas liquids business, and the Alpha Crude Connector system in the Permian Basin. Plains’ asset base includes interests in thousands of miles of pipelines, large-scale crude oil and NGL storage, natural gas storage, gathering systems, terminals, and natural gas processing plants. Its network is concentrated in important production regions and transportation corridors, including the Permian Basin, the Canadian oil sands and other Alberta producing areas, the Gulf Coast, and major North American market hubs. The company also participates in joint ventures, including Plains Oryx Permian, whose combined system expanded gathering and transportation reach in the Permian Basin. A notable organic development was the Cactus II Pipeline System, which entered service in 2019 and was designed to move crude oil from the Permian Basin near Wink, Texas, to the Corpus Christi area on the Texas Gulf Coast. The system improved access from growing West Texas production to refining and export markets. Plains has also pursued large connectivity projects with other energy companies, although some proposed projects have been cancelled after regulatory, environmental, and community opposition. The company’s results are influenced by North American production volumes, commodity flows, pipeline utilization, storage demand, producer activity, interest rates, and the performance of its marketing operations. While much of its infrastructure business is supported by contracted or fee-based arrangements, the marketing segment can have greater exposure to market conditions. Plains reported a substantial loss in 2020 amid the COVID-19 pandemic, weaker energy demand, goodwill impairments, and other non-cash impairment charges. It subsequently continued operating as an investment-grade-rated midstream issuer according to ratings information reported in 2023. Plains has also faced significant environmental and regulatory scrutiny. Its Canadian operations were associated with major oil spills in Alberta in 2011 and 2012, while a 2015 pipeline rupture near Refugio, California, caused extensive coastal pollution and led to investigations, enforcement actions, cleanup costs, and penalties. Earlier enforcement concerning multiple pipeline spills resulted in a civil penalty and a large pipeline-upgrade program. More recently, the proposed Byhalia Connection pipeline became the subject of sustained opposition because of concerns about the Memphis Sand aquifer, route selection, and racial and environmental justice. Plains and Valero placed the project on hold in 2021 and later abandoned it. Plains remains an active North American midstream infrastructure company with a portfolio centered on crude oil, NGLs, pipelines, storage, terminals, gathering, and related logistics services.
History
Plains All American Pipeline traces its origins to Plains Resources, an oil and gas exploration and production company established in 1981. The business entered the public markets in 1998 through an initial public offering. That same year, it acquired the All American Pipeline System, providing a foundation for its transformation into a midstream transportation, storage, and marketing company. Plains expanded through a sequence of asset acquisitions during the late 1990s and 2000s. In 1999 it purchased the Scurlock Oil Company’s Permian and West Texas pipeline assets from Chevron. In 2001 it acquired midstream operations from Murphy Oil and bought CANPET Energy Group, a Canadian liquefied-gas marketing business. It added the Capline Pipeline System and the Link Energy pipeline system in 2004, followed by Louisiana assets from Shell Oil in 2005. The 2006 acquisition of Pacific Energy Partners for approximately $2.4 billion considerably broadened Plains’ pipeline, storage, and terminal footprint. The company continued to build its Canadian and U.S. network. In 2008 it acquired the Rainbow oil pipeline in northern Alberta, and in 2012 it purchased BP’s Canadian NGL business. In the Permian Basin, Plains acquired the Alpha Crude Connector gathering system and pipeline in 2017. The Cactus II Pipeline System entered service in 2019, creating a major crude transportation route from the Permian Basin near Wink, Texas, to the Corpus Christi region on the Gulf Coast. In 2021, Plains and Oryx Midstream Services formed Plains Oryx Permian. The joint venture combined gathering and transportation assets in the Permian Basin and was described as encompassing roughly 5,500 miles of pipeline, approximately 6.8 million barrels per day of pipeline capacity, and about 16.9 million barrels of operational storage capacity. Plains has remained organized as a publicly traded master limited partnership, with its principal headquarters in Houston’s Allen Center. The company’s development has also been shaped by operational incidents and regulatory scrutiny. In 2010, it reached a settlement related to ten crude oil spills that occurred between 2004 and 2007, agreeing to a civil penalty and a substantial pipeline inspection and upgrade program. A 2011 Rainbow Pipeline rupture in Alberta released approximately 28,000 barrels of oil, while a 2012 Rangeland pipeline leak released an estimated 1,000 to 3,000 barrels of crude into the Red Deer River system. The 2015 Refugio rupture in California was especially consequential: oil reached the Santa Barbara coastline, the incident drew federal and local investigations, and Plains later agreed to pay more than $60 million in penalties connected with the event. The company’s financial performance is sensitive to energy-market conditions. Plains was profitable in nine of the ten calendar years from 2013 through 2022 according to the cited reference material, but the 2020 pandemic produced a reported loss of approximately $2.59 billion. Management associated that result with reduced energy demand, goodwill impairment, and other non-cash impairment charges. As reported in August 2023, Moody’s rated the company’s senior unsecured debt Baa3, while Fitch and S&P Global Ratings assigned BBB- ratings; these ratings are generally categorized as investment grade. Plains has also confronted opposition to proposed infrastructure. In 2019 it announced, with Valero, the Byhalia Connection project, a planned 49-mile crude oil pipeline linking the Diamond and Capline systems between Memphis and Marshall County, Mississippi. Critics objected to the proposed route through the Memphis Sand aquifer and predominantly Black communities, framing the debate in environmental and social justice terms. After placing construction on hold in May 2021, Plains announced in July 2021 that it would abandon the project. The company continues to operate a large North American portfolio of crude oil and NGL pipelines, storage facilities, gathering systems, terminals, processing assets, and marketing operations.
- 2021
Plains Oryx Permian formed
[1]Plains and Oryx Midstream Services form a Permian Basin joint venture combining gathering, pipeline, and storage assets.
- 2019
Cactus II enters service
[1]The Cactus II Pipeline System begins service, connecting Permian Basin crude supply with the Corpus Christi market.
- 2017
Alpha Crude Connector acquired
[1]Plains purchases the Alpha Crude Connector gathering system and pipeline in the Permian Basin.
- 2012
Canadian NGL business acquired from BP
[1]The company expands its Canadian natural gas liquids operations through an acquisition from BP.
- 2008
Rainbow pipeline added
[1]Plains acquires the Rainbow oil pipeline in northern Alberta.
- 2006
Pacific Energy Partners acquired
[1]The acquisition of Pacific Energy Partners significantly expands Plains’ pipeline, storage, and terminal operations.
- 2004
Capline and Link Energy systems added
[1]Plains expands its transportation portfolio through the Capline Pipeline System and Link Energy pipeline system.
- 2001
Murphy Oil and CANPET transactions
[1]Plains acquires midstream operations from Murphy Oil and Canadian liquefied-gas marketer CANPET Energy Group.
- 1999
Scurlock pipeline assets acquired
[1]The company purchases Scurlock Oil Company’s Permian and West Texas pipeline assets from Chevron.
- 1998
Initial public offering and All American Pipeline acquisition
[1]Plains becomes publicly traded and acquires the All American Pipeline System.
Products and positioning
North American midstream energy infrastructure and logistics provider
Midstream infrastructure
Crude oil pipelines and gathering systems
Plains gathers crude oil from producing areas and transports it through regional and long-haul pipeline systems. Its network serves major U.S. and Canadian producing basins and connects producers with refineries, export terminals, storage hubs, and other downstream destinations. The Permian Basin is a particularly important operating region.
Storage and terminal services
Crude oil storage and terminals
The company operates and holds interests in tank farms, terminal facilities, and related infrastructure used to receive, store, blend, transfer, and deliver crude oil. These assets support inventory management and provide connections among pipelines, marine facilities, refineries, and market hubs.
NGL logistics
Natural gas liquids infrastructure
Plains transports, stores, gathers, and markets natural gas liquids in the United States and Canada. Its NGL operations complement the crude oil network and include logistics and storage capabilities serving producing regions and downstream customers.
Crude oil pipeline · 2019
Cactus II Pipeline System
Cactus II is a major crude oil transportation system linking the Permian Basin near Wink, Texas, with the Corpus Christi area on the Texas Gulf Coast. It was designed to provide additional takeaway capacity from West Texas production and improve access to Gulf Coast refining and export markets.
Gas infrastructure
Natural gas processing and storage
Plains owns or holds interests in natural gas storage capacity and natural gas processing plants. These assets support the treatment, handling, and logistical movement of gas and associated liquids within its broader North American midstream portfolio.
Controversies
2021
Byhalia Connection controversy
The proposed Byhalia Connection pipeline faced strong opposition over potential impacts to the Memphis Sand aquifer and predominantly Black neighborhoods. Environmental and social justice advocates challenged the project, which Plains ultimately abandoned after placing it on hold.
2015
Refugio oil spill
A pipeline rupture northwest of Santa Barbara released approximately 105,000 U.S. gallons of oil, including about 20,000 gallons that reached the Pacific Ocean. Investigations examined corrosion, emergency reporting, environmental damage, and response practices; in 2020 Plains agreed to pay more than $60 million in penalties related to the incident.
2012
Rangeland Pipeline incident
Heavy rain contributed to a leak from a 46-year-old Plains Midstream Canada pipeline near Jackson Creek, releasing an estimated 1,000 to 3,000 barrels of light sour crude into the Red Deer River system.
2011
Little Buffalo oil spill
The Rainbow Pipeline ruptured in northern Alberta and released approximately 28,000 barrels of oil. The incident affected boreal forest, led to the closure of a nearby school because of fumes, and resulted in regulatory reprimand and later charges.
2010
Clean Water Act settlement
Plains agreed to pay a $3.25 million civil penalty and spend $41 million upgrading more than 10,000 miles of crude oil pipelines after enforcement concerning ten spills in four U.S. states between 2004 and 2007.
Brand decisions
2021
Formation of Plains Oryx Permian joint ventureM&ABackground
Plains sought to combine Permian Basin gathering and transportation assets with those of Oryx Midstream Services.
Action taken
The companies formed Plains Oryx Permian, combining approximately 5,500 miles of pipeline, reported pipeline capacity of about 6.8 million barrels per day, and approximately 16.9 million barrels of operational storage.
Aftermath
The joint venture expanded Plains’ integrated gathering and transportation position in the Permian Basin.
2021
Byhalia Connection project abandonedStrategyBackground
The proposed Memphis-area crude oil pipeline encountered sustained environmental, permitting, and environmental justice opposition.
Action taken
After placing the project on hold in May, Plains announced in July that it would not proceed with construction.
Aftermath
The decision ended a high-profile infrastructure proposal and was welcomed by local community and environmental advocates.
2019
Cactus II Pipeline System enters serviceProduct launchBackground
Growing Permian Basin production created demand for additional crude oil takeaway capacity to the Gulf Coast.
Action taken
Plains placed the Cactus II system into service between the Wink, Texas area and Corpus Christi.
Aftermath
The system added a major route from West Texas production to Gulf Coast refining and export infrastructure.
Recent events
Plains All American appoints Jeremy Goebel to expanded executive role[3]
Reported:
The board approved Jeremy Goebel's appointment to the expanded roles of executive vice president and chief commercial officer, effective March 1, 2021.
Sources3 sources
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