Plains All American Pipeline to acquire South Saskatchewan Pipeline System

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.

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