Plains All American Pipeline, L.P. Announces Board Appointment
August 24, 2021 at 04:16 pm EDT
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Plains All American Pipeline, L.P.'s board has approved the appointment of Kevin McCarthy, Kayne Anderson’s previously designated director to Plains’ Board, to serve as a Director until PAGP’s Annual Meeting of Shareholders to be held in May of 2022, and the nomination of Mr. McCarthy to stand for election at such Annual Meeting. As a result of this change, together with the amendment of Plains’ governance documents in February of this year to require public election for all Directors who are current or former members of management, all of Plains’ Board Members are now subject to public election. In addition, going forward, Mr. McCarthy will serve as a Director on the same basis as all other non-management Directors in terms of the rights, duties, and obligations of Directors.
Plains GP Holdings, L.P. is a limited partnership. The Company owns and operates critical midstream infrastructure systems that connect various producing regions to key demand centers and export terminals. The Company operates through two segments: Crude Oil and Natural Gas Liquids (NGL). The Crude Oil segment operations generally consist of gathering and transporting crude oil using pipelines, gathering systems, trucks and at times on barges or railcars, in addition to providing terminalling, storage and other related services utilizing its integrated assets across the United States and Canada. The NGL segment operations involve natural gas processing and NGL fractionation, storage, transportation and terminalling. The NGL segment is engaged in providing gathering, fractionation, storage, and/or terminalling services to third-party customers for a fee, extracting NGL mix from the gas stream processed at its Empress straddle plant facility as well as acquiring NGL mix.