Oil, Gas and Consumable Fuels
Company Overview of Plains Midstream Canada ULC
Plains Midstream Canada ULC provides crude oil transportation, gathering, marketing, terminalling, and storage services in Canada and the United States. The company handles the gathering, marketing, storage, terminalling, and transportation of various grades of crude oil in the provinces of Alberta, Saskatchewan, and Manitoba, as well as in North Dakota and Montana. It handles the storage, transportation, terminalling, and marketing of various liquefied petroleum gases (LPG), such as propane; butane; and intermediates products, including natural gasoline, ethanol, naphtha, pentane, and aromatics. The company transports crude oil, condensates, diluents, road oils, and LPG/NGL products through...
607 Eighth Avenue SW
Calgary, AB T2P 0A7
Founded in 2001
Key Executives for Plains Midstream Canada ULC
Chief Financial Officer and Executive Vice President
Executive Vice President of Operations
Senior Vice President of LPG Commercial & Facilities
Managing Director of Propane
Compensation as of Fiscal Year 2014.
Plains Midstream Canada ULC Key Developments
Plains All American Pipeline, L.P. Enters Third Amended and Restated Credit Agreement
Aug 20 14
Effective on and as of August 16, 2014, pursuant to Section 2.14 of that certain Third Amended and Restated Credit Agreement dated as of August 19, 2011 among Plains Marketing, L.P. and Plains Midstream Canada ULC (PMC), as Borrowers; Plains All American Pipeline, L.P., as Guarantor; Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer; Wells Fargo Bank, National Association, as an L/C Issuer; and the other Lenders party thereto (as amended, the Hedged Inventory Facility), each Lender under the Hedged Inventory Facility consented to an extension of such Lender's Maturity Date for one additional year from the Existing Maturity Date. As a result, the Maturity Date of each Lender has been extended to August 16, 2017. Terms used but not defined herein have the meanings assigned to them in the Hedged Inventory Facility. Effective on and as of August 16, 2014, pursuant to Section 2.14 of that certain Credit Agreement dated as of August 19, 2011 among the company and PMC, as Borrowers; Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer; Wells Fargo Bank, National Association, as an L/C Issuer; and the other Lenders party thereto (as amended, the Credit Agreement), each Lender under the Credit Agreement consented to an extension of such Lender's Maturity Date for one additional year from the Existing Maturity Date. As a result, the Maturity Date of each Lender has been extended to August 16, 2019. Terms used but not defined herein have the meanings assigned to them in the Credit Agreement.
Plains Marketing, L.P. Amends Senior Secured Hedged Inventory Facility
Aug 20 13
On August 16, 2013, Plains Marketing, L.P., a wholly-owned subsidiary of Plains All American Pipeline, L.P., entered into the second amendment to the third amended and restated credit agreement among Plains Marketing and Plains Midstream Canada ULC, as borrowers; Plains All American Pipeline, as guarantor; Bank of America, N.A., as administrative agent, Swing Line Lender and L/C Issuer; Wells Fargo Bank, National Association, as an L/C Issuer; and the other lenders party thereto. Pursuant to the amendment, the maturity date of the senior secured hedged inventory facility has been extended to August 16, 2016 and the definition of applicable rate has been modified. Credit extensions to each borrower will be used to finance, and will be secured by, its purchased or stored hedged inventory. Payment obligations of the borrowers under this facility will continue to be guaranteed by the Plains All American Pipeline.
Keyera Corp. and Plains Midstream Canada ULC No Longer Jointly Pursuing Western Reach
Aug 14 13
Keyera Corp. and Plains Midstream Canada ULC will not be jointly pursuing the construction and operation of the proposed Western Reach pipeline system, but Keyera announced that it will still pursue a liquids pipeline system in northwestern Alberta. Keyera will be pursuing the development of a liquids pipeline system in northwest Alberta to deliver an NGL mix and condensate from the Deep Basin area of Alberta to the NGL hub in Fort Saskatchewan and is proceeding with plans to secure sufficient producer commitments to underpin construction. The final pipeline routing will depend a great deal on the location of the liquids production from producers securing transportation capacity on the pipeline and the nature of the service offering that they are interested in. In an update, Keyera announced a proposed new pipeline system is anticipated to be built from the Simonette gas plant in northwest Alberta through the Edson area into Alberta's NGL energy hub in Fort Saskatchewan. Simultaneously, Keyera will evaluate extensions west of Simonette that would service the Musreau and Gold Creek areas. The pipeline system will consist of two new build, continuous flow pipelines with one dedicated to an unfractionated mixture of propane, butane and condensate (C3+ mix) and the other intended for segregated condensate service. Customers will have the option to direct their C3+ mix and segregated condensate to a variety of fractionation, storage, pipeline and terminal facilities at the Fort Saskatchewan energy hub. Based on current assessments, it is anticipated that the pipeline could be operational by late 2015. The estimated capital cost will be determined once volumes have been confirmed and the engineering design has been completed.
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