Plains completes acquisition of Shell’s interests in U.S. pipelines

Ray Tyson

Petroleum News Houston correspondent

Plains All American Pipeline has completed its $158 million acquisition of Shell’s 22 percent interest in the Capline Pipeline System and 76 percent interest in the Capwood Pipeline System, Plains said March 2, adding that the purchase price did not include transaction expenses and oil inventory and line-fill requirements.

The acquisition of Capline and Capwood provides Plains All American with a direct pipeline link to oil markets in the U.S. Midwest.

Plains All American is involved in oil transportation, gathering, marketing, terminalling and storage, as well as the marketing and storage of liquefied petroleum gas and other petroleum products, mainly in Texas, California, Oklahoma, Louisiana and the Canadian provinces of Alberta and Saskatchewan.