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 March 23, 2015 - 8:00 AM EDT
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Plains All American Pipeline Enters Joint Venture with Delek Logistics to Build Caddo Pipeline

Plains All American Pipeline, L.P. (NYSE:PAA) today announced the formation of Caddo Pipeline LLC, a 50/50 joint venture with Delek Logistics Partners, LP (NYSE:DKL) to develop the Caddo Pipeline, an 80-mile, 12-inch pipeline between Longview, Texas, and Shreveport, La. The Caddo Pipeline will originate at the Plains Atlas Terminal in Longview and will have the capacity to move up to 80,000 barrels of domestic crude oil per day to supply refineries in the Shreveport area and Delek Logistics’ pipeline system supplying Delek US Holdings’ (NYSE:DK) El Dorado, Ark. refinery. Under the agreement, PAA will construct and operate the Caddo Pipeline. The total project investment is expected to be approximately $100 million; the pipeline is supported by long-term shipper commitments and is expected to be completed in mid-2016.

Plains All American Pipeline, L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids ("NGL"), natural gas and refined products. PAA owns an extensive network of pipeline transportation, terminalling, storage and gathering assets in key crude oil and NGL producing basins and transportation corridors and at major market hubs in the United States and Canada. On average, PAA handles over 4.1 million barrels per day of crude oil and NGL on its pipelines. PAA is headquartered in Houston, Texas.

Forward Looking Statements

Certain matters discussed in this release are forward-looking statements that involve risks and uncertainties that could cause actual results or outcomes to differ materially from results or outcomes anticipated in the forward-looking statements. These risks and uncertainties include, among other things, shortages, cost increases or delays in receipt of supplies, materials or labor; inability to obtain, delays in the receipt of, or other issues associated with necessary licenses, permits, approvals, consents, rights of way or other governmental or third party requirements; the impact of current and future laws, rulings, orders, governmental regulations, accounting standards and statements and related interpretations; weather interference with business operations or project construction, including the impact of extreme weather events or conditions; environmental liabilities, issues or events that result in construction delays or otherwise impact targeted in-service dates; interruptions in service on third-party pipelines or facilities; general economic, market or business conditions and the amplification of other risks caused by volatile financial markets, capital constraints and pervasive liquidity concerns; and other factors and uncertainties inherent in the transportation, storage, terminalling and marketing of crude oil and refined products as discussed in PAA's filings with the Securities and Exchange Commission.

PAA Contacts:
Ryan Smith, 866-809-1291
Director, Investor Relations
Brad Leone, 866-809-1290
Director, Communications

Source: Business Wire (March 23, 2015 - 8:00 AM EDT)

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