Plains All American Pipeline to acquire South Saskatchewan Pipeline System

Dec. 9, 2003
Plains All American Pipeline LP, Houston, reported that its subsidiary, Plains Marketing Canada LP, will acquire the South Saskatchewan Pipeline System (SSPS) from South Saskatchewan Pipe Line Co. for about $47 million, including transaction costs.

By OGJ editors
HOUSTON, Dec. 9 -- Plains All American Pipeline LP, Houston, reported that its subsidiary, Plains Marketing Canada LP, will acquire the South Saskatchewan Pipeline System (SSPS) from South Saskatchewan Pipe Line Co. for about $47 million, including transaction costs.

Plains funded its acquisition of the crude oil line through a combination of cash-on-hand and borrowings under the LP's revolving credit facilities, it said.

The 158 mile, 16-in. SSPS mainline originates about 75 miles southwest of Swift Current, Sask., and extends north and east to its terminus at Regina. The system also has 203 miles of 3-12 in. gathering lines.

During 2002, the system transported about 52,000 b/d of crude. At Regina, the system delivers oil to Enbridge Pipeline System and to local markets. The system also carries crude to the partnership's Wascana Pipeline System.