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What is 'Pawn Your Diamond'?
'Pawn Your Diamond' offers the community information
about the Fortune 500 companies.
Why the name?
The aim behind our name is to give young
entrepreneurs the incentive to start from scratch with
the hope that this small money they got from pawning a
diamond they had aside, grows and flourishes into a
multi billion dollar corporation.
Too dreamy?
Simply NOT. Such famous corporations did not exist
forever. Each and every foundation did start somewhere
and usually had one or a few founding members. So grab
the general concept and work hard!
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Fortune 500 - Spot Number 96
Company Information
Name: Plains All American Pipeline, L. P.
Industry: Oil & Gas Operations
Description: In the early 1990s, we recognized that fundamentals in the crude oil industry were foreshadowing the need for increased movements of crude oil into the Midwestern region of the United States (also known as PADD II). In 1993, in response to that need, we built the Cushing Terminal, our first major asset, which was strategically located in Cushing, Oklahoma – the Southern gateway for incremental pipeline movements to refining centers in the Midwest. Our Cushing Terminal, which has since been expanded to over two & one-half times its original size, serves as the cornerstone of our business strategy that is designed to capitalize on logistical inefficiencies inherent in the North American crude oil distribution system. Throughout the 1990s, we achieved growth through a combination of internal projects & accretive acquisitions. In 1998, following our acquisition of the All American Pipeline System, we achieved the critical mass necessary to access the public equity markets. On November 17, 1998, Plains All American Pipeline, L.P. completed its initial public offering as a master limited partnership & began trading on the New York Stock Exchange under the ticker symbol “PAA.”
Financial Summary: Plains Resources acquires, exploits, develops, explores and produces oil and natural gas and markets, transports, terminals and stores crude oil. For the 3 months ended 3/31/04, revenues fell 53% to $3.3M. Net income before acct. change and applic. to Common totaled $13.3M, up from $6M. Revenues reflect the timing of deliveries for sales. Earnings reflect an increase in gain on Plains All American Pipeline unit transactions.
Business Summary: Plains Resources Inc., an independent energy company, is engaged in marketing, gathering, transporting, terminaling and storage of oil through its equity ownership in Plains All American Pipeline, L.P. (PAA). PAA is engaged in the midstream energy markets. As of February 29, 2004, the Company owned 44% and 21% of the general and limited partnership units of PAA. Plain Resources also participates in acquiring, exploiting, developing, exploring for and producing oil through its wholly owned subsidiary, Calumet Florida LLC, which has producing properties in the Sunniland Trend in South Florida. On December 18, 2002, it spun-off Plains Exploration & Production Company (PXP), which, until that date, was its wholly owned subsidiary.
Misc Details
Symbol: PLX
City: Houston
State: TX
ZIP Code: 77002
Address: 333 Clay Street
Suite 1600
Phone: 713-646-4100
Fax: 713-654-1523
Website: http://www.plainsallamerican.com
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