Plains GP Holdings LP (PAGP) is a publicly traded master limited partnership (MLP) that owns the general partner and incentive distribution rights of Plains All American Pipeline, L.P. (PAA), a major energy infrastructure company. PAA owns and operates midstream energy assets such as pipelines, terminals, and storage facilities that transport and store crude oil, natural gas liquids, and natural gas. PAGP was created in 2013 when PAA became a publicly traded MLP and spun off its general partner and incentive distribution rights into a separate entity.
PAGP generates revenue through its ownership of PAA's general partner and incentive distribution rights, which entitle it to a percentage of PAA's distributable cash flow. PAGP also owns a limited partnership interest in PAA. PAA's assets are primarily located in the United States, with a significant presence in the Permian Basin, the Gulf Coast, and the Rocky Mountains.
PAGP's financial performance is closely tied to PAA's operating performance, which is influenced by factors such as commodity prices, supply and demand for midstream energy infrastructure services, and regulatory and environmental developments. As of September 2021, PAGP had a market capitalization of approximately $2.4 billion.
Plains GP Holdings LP (PAGP) is a publicly traded master limited partnership (MLP) that owns the general partner and incentive distribution rights of Plains All American Pipeline, L.P. (PAA), a major energy infrastructure company. PAA owns and operates midstream energy assets such as pipelines, terminals, and storage facilities that transport and store crude oil, natural gas liquids, and natural gas. PAGP was created in 2013 when PAA became a publicly traded MLP and spun off its general partner and incentive distribution rights into a separate entity.