| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies |
| Plains All American Pipeline, L.P. |
| 500 Dallas, Suite 700, Houston, TX 77002 * (713) 654-1414 |
| The company is engaged in interstate and intrastate crude oil pipeline transportation and crude oil pipeline transportation and crude oil terminalling and storage activities and gathering and marketing activities. |
| Manager | Tier | Phone |
| Salomon Smith Barney | Lead Manager | (212) 723-7300 |
| A.G. Edwards & Sons, Inc. | Co-manager | (314) 955-3039 |
| Dain Rauscher Wessels | Co-manager | (612) 371-2818 |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 371-0641 |
| Goldman, Sachs & Co. | Co-manager | (212) 902-5959 |
| ING Baring Furman Selz | Co-manager |
| NYSE: | PAA | Natural Resources: | SIC 4922 | |
| Type of Shares: | Common Units | Filing Date: | 9/23/98 | |
| U.S. Shares: | 13,085,000 | Offer Date: | 11/17/98 | |
| Non-U.S. Shares: | 0 | Filing Price: | - | |
| Primary Shares: | 13,085,000 | Offer Price: | $20.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.30 | |
| Offering Amount: | $271,630,430 | Selling: | $0.80 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Post-IPO Shares: | - |
| Issuer's Law Firm: | Andrews & Kurth |
| Bank's Law Firm: | Baker & Botts |
| Auditor: | Pricewaterhouse Coopers LLC |
Dollar amounts in U.S. millions except for per share data | |||||
| 6 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Audited Income | Balance Sheet | ||
| 12/31/97 | 6/30/98 | 6/30/97 | 6/30/98 | ||
| Revenue: | $1,746.49 | $706.24 | $885.50 | Assets: | $617.54 |
| Net Income: | $52.38 | $24.51 | $29.61 | Curr Assets: | $187.71 |
| EPS: | $1.75 | $0.82 | $0.99 | Liabilities: | $355.06 |
| Prior EPS: | Curr Liab: | $179.71 | |||
| Cash Flow/Oper: | Equity: | $262.49 | |||
| Cash Flow/Fin: | Cash: | $7.61 | |||
| Cash Flow/Inv: | Working Cap: | $8.00 | |||
| Competition |
| The All American Pipeline encounters competition from foreign oil imports and other pipelines that serve the California market and the refining centers in the Midwest and on the Gulf Coast. A new pipeline connecting the San Joaquin Valley to refinery markets in the Los Angeles Basin area is currently under construction by a third party with an anticipated completion date in 1999. The Partnership expects that certain volumes currently transported east on the All American Pipeline may be redirected to Los Angeles on such pipeline. The Partnership faces intense competition in its terminalling and storage activities and gathering and marketing activities. Its competitors include other crude oil pipelines, the major integrated oil companies, their marketing affiliates and independent gatherers, brokers and marketers of widely varying sizes, financial resources and experience. Some of these competitors have capital resources many times greater than the Partnership's and control substantially greater supplies of crude oil. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for general corporate purposes. |