Plains GP Holdings, L.P. Reports Earnings Results for the First Quarter Ended March 31, 2022
May 04, 2022 at 04:35 pm EDT
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Plains GP Holdings, L.P. reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported sales was USD 13,694 million compared to USD 8,383 million a year ago. Net income was USD 22 million compared to USD 70 million a year ago. Basic earnings per share from continuing operations was USD 0.11 compared to USD 0.36 a year ago.
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.
PLAINS GP HOLDINGS, L.P. 
