HOUSTON: Plains All American Pipeline LP (PAA) has entered into definitive agreements to acquire a Permian Basin crude oil gathering system for approximately $1.2 billion. PAA has also entered into definitive sales agreements totaling $380 million, which include two pending transactions aggregating approximately $310 million and the completion of a third transaction in January for approximately $70 million. The acquisition and pending sale transactions are subject to customary closing conditions, including receipt of regulatory approvals, and are expected to close during the first half of 2017.

For more information, visit www.Plainsallamerican.com or call (713) 646-4100.