Solid First Quarter Performance
Reported a solid first quarter performance with adjusted EBITDA attributable to Plains up $754 million.
Strategic Acquisitions
Acquired the remaining 50% equity in the Cheyenne pipeline and Black Knight Midstream for approximately $55 million, enhancing asset base and growth strategy.
NGL Segment Expansion
Transitioned to more fee-based earnings with the completion of a 30,000 barrel a day fractionation bottleneck project at Fort Sask, supported by long-term customer commitments.
Strong Cash Flow Generation
Expected to generate strong cash flow for the year with adjusted free cash flow of about $1.1 billion.
Efficient Growth Initiatives
Continued execution of efficient growth strategy, maintaining a flexible balance sheet and returning capital to unitholders.