Plains All American Pipeline announced Tuesday, Aug. 30 that its subsidiary, Plains Marketing Canada, has signed a definitive agreement to acquire the Canadian trucking assets of Flint Hills Resources for an undisclosed amount.
The transaction is expected to close by the end of October, subject to satisfaction of closing conditions.
“This acquisition expands Plains Marketing Canada’s crude oil marketing footprint in Western Canada, and the assets are complementary to our existing crude oil trucking business,” said W. David Duckett, president of Plains Marketing Canada.
The trucking assets are comprised of a fleet of more than 50 crude oil and condensate trailers that operate in key crude oil-producing areas in Alberta and Saskatchewan.
Plains Marketing Canada, a subsidiary of Plains All American Pipeline, is a midstream crude oil and natural gas liquids company that combines transportation, gathering, terminalling and storage assets.
Houston-based Plains All American Pipeline is engaged in interstate and intrastate crude oil transportation, terminalling and storage, as well as crude oil and LPG gathering and marketing activities in the United States and Canada.