{"filings":[{"id":787000,"accession_number":"0001104659-26-069156","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2026-06-02T10:03:41+00:00","items":["5.02"],"status":"ready","headline":"Plains All American announces CAO retirement and Montgomery promotion effective Sep 1, 2026","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Chris Herbold, SVP Finance and Chief Accounting Officer, retiring on Aug 31, 2026.","Russ Montgomery promoted to VP Accounting and CAO effective Sep 1, 2026; previously VP Controller since 2019.","Montgomery has held various Plains accounting roles since 2002, including Controller and Director of Operational Accounting."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.4,"calibrated_materiality_score":0.4,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":609959,"accession_number":"0001104659-26-065738","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2026-05-22T20:20:42+00:00","items":["5.07"],"status":"ready","headline":"PAA unitholders elect four directors, ratify auditor, approve say-on-pay at 2026 annual meeting","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["All four Class I directors elected with 97.7% to 98.3% of votes cast: Chiang, DeSanctis, Pruner, Ziemba.","Ratification of PwC as auditor for FY2026 passed with 99.0% of votes cast (437.6M for).","Non-binding advisory say-on-pay for 2025 NEO compensation approved with 60.5% of votes cast.","Turnout: 83.2% of 530.9M units represented (441.98M units in person or by proxy)."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.25,"calibrated_materiality_score":0.15,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":70323,"accession_number":"0001104659-26-060358","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2026-05-13T21:01:50+00:00","items":["5.02","7.01","9.01"],"status":"ready","headline":"Plains All American appoints Cynthia B. Taylor to board of directors effective May 11, 2026","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Cynthia B. Taylor appointed as independent Class III director on GP Holdings board; also joins Compensation and HSE&S committees.","Taylor retired May 2026 as CEO and President of Oil States International, a role she held since 2007; brings 30+ years energy experience.","Annual cash retainer of $120,000 plus phantom Class A PAGP shares worth ~$160,000, vesting one year from grant with distribution equivalent rights.","Taylor also serves as AT&T director (since 2013) and chaired the Federal Reserve Bank of Dallas board through 2025."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":42803,"accession_number":"0001104659-26-059509","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2026-05-12T21:20:11+00:00","items":["2.01","1.02","7.01","9.01"],"status":"ready","headline":"Plains All American closes $3.76B sale of Canadian NGL business to Keyera Corp.","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Sale of Canadian NGL business to Keyera Corp. for CAD $5.13B (~USD $3.76B) closed May 12, 2026.","Net proceeds of ~$3.3B after taxes/expenses to repay commercial paper, term loan, and 4.50% notes due 2026.","Leverage ratio expected to trend toward middle of targeted 3.25–3.75x range post-closing.","No special distribution expected; tax liability mitigated by bonus depreciation from Cactus III acquisition.","PAA terminates $1.1B term loan agreement effective May 14, 2026 upon mandatory prepayment triggered by sale."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.95,"calibrated_materiality_score":0.95,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":91081,"accession_number":"0001070423-26-000017","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2026-05-08T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Plains All American Q1 net income $152M; raises 2026 EBITDA midpoint by $130M","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q1 GAAP net income $152M ($0.14/unit) vs $443M YoY; adjusted net income $325M ($0.39/unit).","Q1 Adjusted EBITDA attributable to PAA $730M ($852M total); declared $0.4175/unit distribution (10% increase).","Raises FY 2026 Adj. EBITDA guidance midpoint to $2.880B (+$130M); growth capex $350M, maintenance $185M.","Pro forma leverage 4.1x; targeting 3.25-3.75x after closing NGL divestiture to Keyera (expected May 2026).","FY 2026 Adjusted Free Cash Flow guidance raised to ~$1.850B (excl. NGL proceeds and working capital changes)."],"consensus_eps_estimate":0.4109,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":12470000000.0,"consensus_period":"2026-Q1","consensus_source":"xbrl+finnhub","sentiment":"positive","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":100991,"accession_number":"0001104659-26-022836","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2026-03-03T23:59:59+00:00","items":["1.01","2.03","9.01"],"status":"ready","headline":"Plains All American replaces PMCULC with PCLPULC as borrower under credit facilities","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["On Feb 26, 2026, PAA amended its Revolver and Hedged Inventory Facility to substitute borrower entities.","Plains Midstream Canada ULC (PMCULC) replaced by Plains Canada Liquid Pipelines ULC (PCLPULC) as borrower.","All commitments to PMCULC terminated; PMCULC released from obligations and liens on its collateral released.","PCLPULC becomes a borrower, grants security, and PAA's guarantee of obligations remains in full force.","No changes to aggregate commitments, maturity, pricing, or covenants under either facility."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.2,"calibrated_materiality_score":0.2,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":100990,"accession_number":"0001070423-26-000011","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2026-02-06T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Plains All American Q4 net income jumps to $342M; raises distribution 10%, guides 2026 EBITDA $2.75B","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q4 net income attributable to PAA $342M vs $36M a year ago; full-year $1.435B, up 86% YoY.","Adjusted EBITDA attributable to PAA 2025: $2.833B; 2026 guidance midpoint $2.75B (assumes one quarter of NGL contribution).","Annualized distribution raised $0.15 to $1.67/unit (10% increase); coverage threshold lowered from 160% to 150%.","Pro forma leverage 3.9x; targeting 3.25x-3.75x after NGL divestiture close expected Q1 2026.","Expect ~$1.80B adjusted free cash flow in 2026; $100M cost savings initiatives through 2027."],"consensus_eps_estimate":0.4137,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":44262000000.0,"consensus_period":"2025-FY","consensus_source":"xbrl+finnhub","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":100989,"accession_number":"0001070423-26-000006","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K/A","filed_at":"2026-01-16T23:59:59+00:00","items":["9.01"],"status":"ready","headline":"Plains All American complete EPIC Crude 100% acquisition with audited financials filed","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["PAA now 100% owner/operator of EPIC Crude Pipeline after purchasing remaining 55% from Diamondback/Kinetik and 45% from Ares; closed Oct 31, 2025.","EPIC Crude reported 2024 revenue of $383M (transportation $261M + crude sales $122M) and net loss of $47.4M, halved from 2023 loss of $77.8M.","EPIC Crude total assets $2.12B; long-term debt $1.18B as of Dec 31, 2024; pipeline spans ~900 miles from Permian/Eagle Ford to Corpus Christi.","Filing includes pro forma combined balance sheet and statements adjusting PAA's financials for the full acquisition."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":117319,"accession_number":"0001104659-25-118133","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2025-12-03T23:59:59+00:00","items":["1.01","2.03","1.02","9.01"],"status":"ready","headline":"Plains All American enters $1.1B term loan, terminates $1.1B EPIC credit facility","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["On Nov 26, 2025, PAA entered a $1.1B senior unsecured term loan due in two years; interest rate SOFR+1.125% initially, rising to SOFR+1.250% after one year.","On Dec 1, 2025, PAA terminated the EPIC Credit Agreement and repaid all ~$1.1B outstanding under the EPIC Term Loan; EPIC revolver was undrawn.","Term loan is prepayable without penalty; mandatory prepayment triggered by closing of the Canadian NGL sale to Keyera Corp. (announced June 2025).","Financial covenant: Consolidated Leverage Ratio ≤5.00x (5.50x during acquisition period); customary covenants and events of default apply.","Proceeds used to refinance EPIC indebtedness; funded prior to Dec 2, 2025."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":117318,"accession_number":"0001104659-25-112281","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2025-11-14T23:59:59+00:00","items":["1.01","2.03","8.01","9.01"],"status":"ready","headline":"Plains All American Pipeline issues $750M in senior notes in two tranches","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Closed public offering of $750M: $300M of 4.700% Senior Notes due 2031 and $450M of 5.600% Senior Notes due 2036.","Both tranches are additional issuances of series issued Sept 8, 2025; total outstanding now $1B for each series.","Notes mature Jan 15, 2031 (4.700%) and Jan 15, 2036 (5.600%); interest payable semi-annually Jan 15/Jul 15 starting Jan 15, 2026.","Notes are senior unsecured obligations ranking equally with existing senior debt; subject to customary covenants and events of default."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":117317,"accession_number":"0001104659-25-107695","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2025-11-06T23:59:59+00:00","items":["1.01","2.01","2.03","7.01","9.01"],"status":"ready","headline":"Plains All American completes $2.9B acquisition of EPIC Crude Pipeline, now 100% owner and operator","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Acquired 55% from Diamondback/Kinetik for ~$1.57B (incl. $600M debt) and remaining 45% from Ares for ~$1.33B (incl. $500M debt).","Total purchase price ~$2.9B including ~$1.1B of EPIC Term Loan debt; potential earnouts up to ~$350M tied to expansion milestones.","EPIC assets: 800-mile pipeline, >600K bpd capacity, 7M bbl storage, >200K bpd export; PAA now operator and 100% owner.","EPIC Credit Agreement provides $1.2B term loan (due 2031) and $125M revolver (due 2029); PAA does not guarantee the debt.","Transaction closed Oct 31, 2025; press release issued Nov 5, 2025 announcing closing."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":117316,"accession_number":"0001070423-25-000023","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2025-11-05T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Plains All American Q3 net income doubles to $441M; closes 100% EPIC crude pipeline acquisition, $1.33B deal","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q3 GAAP net income $441M ($0.55/unit) vs $220M ($0.22/unit) a year ago; adjusted EBITDA $669M, up 2%.","Completed acquisition of 100% equity interest in EPIC Crude Pipeline; final 45% for ~$1.33B (incl. ~$500M debt), plus up to $157M earnout.","Full-year 2025 adjusted EBITDA guidance reaffirmed $2.84-$2.89B, including ~$40M EPIC contribution; leverage 3.3x near low end of target range.","Distribution raised 20% to $0.3800/unit; net cash from operations $817M in Q3.","Sale of Canadian NGL business to Keyera Corp. on track for Q1 2026 close; classified as discontinued operations."],"consensus_eps_estimate":0.3555,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":33698000000.0,"consensus_period":"2025-Q3","consensus_source":"xbrl+finnhub","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":133756,"accession_number":"0001104659-25-088257","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2025-09-08T23:59:59+00:00","items":["1.01","2.03","8.01","9.01"],"status":"ready","headline":"Plains All American Pipeline prices $1.25B dual-tranche senior notes offering","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Issued $700M 4.700% Senior Notes due 2031 and $550M 5.600% Senior Notes due 2036.","Notes mature Jan 15, 2031 and Jan 15, 2036; interest payable Jan 15 and Jul 15 starting Jan 15, 2026.","Notes are senior unsecured, rank equally with existing senior debt and effectively subordinated to secured debt.","Issuers may redeem notes at any time prior to maturity at specified redemption prices.","Offering closed Sep 8, 2025; underwriting agreement with BofA, Barclays, PNC, TD Securities, Wells Fargo."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":133755,"accession_number":"0001104659-25-086018","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2025-09-02T23:59:59+00:00","items":["1.01","7.01","9.01"],"status":"ready","headline":"Plains All American to acquire 55% interest in EPIC Crude Holdings for ~$1.57B","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Base purchase price ~$1.57B (incl. ~$600M debt); potential $193M earnout for expansion to 900k bpd.","Transaction expected to close Q1 2026, subject to Hart-Scott-Rodino antitrust clearance and other conditions.","EPIC Pipeline: ~800 miles long-haul crude takeaway from Permian/Eagle Ford to Gulf Coast; >600k bpd capacity with low-cost expansion.","Expected immediately accretive to distributable cash flow; synergy opportunities target mid-teens unlevered returns.","Remaining 45% interest held by Ares Management, which will continue as operator of the pipeline."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":133754,"accession_number":"0001104659-25-079894","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2025-08-18T23:59:59+00:00","items":["5.02"],"status":"ready","headline":"PAA extends CEO Chiang's award expiration to 2030; grants special retention units to Goebel and Chandler","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["CEO Willie Chiang's 2018 Promotional Grant expiration extended from Oct 2025 to Oct 2030; 500,000 phantom units unchanged.","Jeremy Goebel receives 545,550 phantom units vesting Aug 2030; Chris Chandler receives 327,350 phantom units vesting Aug 2028.","Grants aim to retain key executives for succession planning beyond Aug 2026 when prior retention grants vest.","Phantom units vest upon DCF per unit targets: 25% at $3.00, 75% at $3.50; DERs vest on progressive thresholds."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.4,"calibrated_materiality_score":0.4,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":133753,"accession_number":"0001070423-25-000018","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2025-08-08T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Plains All American Q2 net income $210M (-16% YoY); divests Canadian NGL for $3.75B","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["GAAP net income attributable to PAA $210M ($0.21/unit) vs $250M ($0.26/unit) in Q2 2024.","Adjusted EBITDA att. to PAA $672M, flat YoY; adjusted net income $312M (+8% YoY).","Agreed to sell substantially all Canadian NGL business to Keyera for ~$5.15B CAD ($3.75B USD); close expected Q1 2026.","Acquired additional 20% in BridgeTex Pipeline on July 22, raising PAA stake to 40%.","Q2 distribution declared $0.38/unit (+20% YoY); leverage ratio 3.3x at low end of target."],"consensus_eps_estimate":0.2948,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":22119000000.0,"consensus_period":"2025-Q2","consensus_source":"xbrl+finnhub","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":150475,"accession_number":"0001104659-25-060314","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2025-06-17T23:59:59+00:00","items":["1.01","7.01","9.01"],"status":"ready","headline":"Plains All American sells NGL business to Keyera for $3.75B","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Total cash consideration C$5.15B (~$3.75B USD); expected close in Q1 2026, subject to regulatory approvals.","Purchase price represents ~13x expected 2025 Distributable Cash Flow; Plains retains US NGL and Canadian crude assets.","Net proceeds ~$3.0B USD after taxes, expenses, and potential ~$0.35/unit special distribution to offset tax liabilities.","PAA expects ~$360M USD of Canadian entity-level taxes; transaction expected to generate foreign tax credits for unitholders.","Capital allocation priorities: bolt-on crude M&A, preferred unit repurchases, and opportunistic common unit buybacks."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":150474,"accession_number":"0001104659-25-052094","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2025-05-23T23:59:59+00:00","items":["5.07"],"status":"ready","headline":"PAA unitholders re-elect 4 directors with >86% support; auditor and say-on-pay pass","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["82.4% of units represented at annual meeting held May 21, 2025.","Directors elected: Burk (99.0%), McCarthy (86.9%), Pefanis (99.0%), Petersen (95.9%).","Ratification of PwC as auditor passed with 98.9% of votes cast.","Advisory say-on-pay approved with 97.5% of votes cast.","Votes were pass-through instructions for PAA to vote PAGP Class C shares."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.15,"calibrated_materiality_score":0.15,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":150473,"accession_number":"0001070423-25-000010","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2025-05-09T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Plains All American Q1 net income $443M, Adj. EBITDA $754M; distribution up 20% to $0.38/unit","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net income attributable to PAA $443M (diluted EPS $0.49), up 67% YoY; net cash from ops $639M (+53% YoY).","Adjusted EBITDA attributable to PAA $754M (+5% YoY); leverage ratio 3.3x at low end of 3.25x-3.75x target.","Quarterly distribution $0.38/unit ($1.52 annualized), up 20% from prior year; implied DCF $0.66/unit.","Acquired remaining 50% of Cheyenne Pipeline (closed Feb 28) and Black Knight Midstream Permian gathering for ~$55M (closed May 1).","Placed Fort Saskatchewan fractionation debottleneck in service (30 Mb/d); hedged ~80% of 2025 C3+ sales at ~$0.70/gal."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":12011000000.0,"consensus_period":"2025-Q1","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":169448,"accession_number":"0001104659-25-028276","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2025-03-26T23:59:59+00:00","items":["5.02","9.01"],"status":"ready","headline":"Plains president Harry Pefanis to retire June 1, 2025; CEO Willie Chiang adds president role","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Harry Pefanis, co-founder and president, retires after 27+ years; will remain on board as senior advisor.","Willie Chiang, chairman and CEO, assumes additional role of president effective June 1, 2025.","Board committee changes: John Raymond succeeds Bobby Shackouls as lead director and governance chair; Shackouls moves to compensation chair.","Changes are part of long-term succession plan."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.45,"calibrated_materiality_score":0.45,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":169447,"accession_number":"0001070423-25-000003","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2025-02-07T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Plains All American Q4 net income $36M (-88% YoY); 2025 EBITDA guidance $2.80-2.95B; distribution +20%","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Full-year 2024 Adjusted EBITDA attributable to PAA $2.78B, above guidance; 2025 outlook $2.80-2.95B.","Q4 2024 diluted net loss per unit $(0.04) due to $225M insurance write-off and $140M NGL terminal write-down.","Closed three bolt-on acquisitions for ~$670M net; raised $1B of 5.95% senior notes due 2035.","Annualized distribution increased 20% to $1.52/unit; leverage ratio exited 2024 at 3.0x.","2025 growth capex guidance +/-$400M, maintenance capex +/-$240M net to PAA."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":50073000000.0,"consensus_period":"2024-FY","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":169446,"accession_number":"0001104659-25-003785","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2025-01-15T23:59:59+00:00","items":["1.01","2.03","8.01","9.01"],"status":"ready","headline":"Plains All American issues $1B of 5.950% Senior Notes due 2035","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Issued $1 billion aggregate principal amount of 5.950% Senior Notes due June 15, 2035.","Interest payable semi-annually on June 15 and December 15, starting June 15, 2025.","Notes are senior unsecured and rank equally with all existing and future senior debt.","Issuers may redeem some or all notes at any time prior to maturity at specified prices.","Underwriting agreement with J.P. Morgan, BMO, Mizuho, and Scotia Capital for the offering."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":169445,"accession_number":"0001104659-25-002210","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2025-01-10T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"Plains All American announces $670M bolt-on acquisitions, $330M preferred buyback, 20% distribution hike","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Three bolt-on acquisitions for ~$670M net: Ironwood Midstream ($475M, closes Q1 2025), Medallion Midstream ($105M net), Midway Pipeline ($90M).","Purchase of ~12.7M Series A Preferred Units (18% of outstanding) at $26.25/unit for ~$330M from EnCap Flatrock; closes late Jan 2025.","Quarterly distribution increased 20% to $0.38/unit from $0.3175, annualized increase of $0.25/unit.","Leverage ratio expected at or below low-end of 3.25x-3.75x target range after transactions."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":186498,"accession_number":"0001104659-24-126442","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2024-12-09T23:59:59+00:00","items":["7.01"],"status":"ready","headline":"Plains All American to host analyst/investor event on Dec 9, 2024; updated materials to be posted","summary_kind":"llm","event_type":"other","confidence":"low","bullets":["PAA and PAGP representatives meet with analysts and investors at a hosted event on December 9, 2024.","Updated presentation materials will be made available on December 9, 2024, at www.plains.com under Investors.","No specific financial results or material developments are disclosed in this filing."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.1,"calibrated_materiality_score":0.1,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":186497,"accession_number":"0001070423-24-000024","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2024-11-08T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Plains All American Q3 net income $220M; guidance toward high-end of $2.725-$2.775B","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net income $220M ($0.22 diluted EPS) vs $203M a year ago; Adj. EBITDA attributable $659M.","Full-year 2024 Adj. EBITDA guidance expected at high-end of $2.725-$2.775B range.","Leverage ratio 3.0x below target; Moody's upgraded PAA to Baa2 from Baa3.","Resolved Line 901 claims with two lawsuit settlements resulting in $120M GAAP charge.","Distribution declared $0.3175/unit, up 19% YoY; Q3 Adj. Free Cash Flow $401M."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":37671000000.0,"consensus_period":"2024-Q3","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":203077,"accession_number":"0001104659-24-092056","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2024-08-22T23:59:59+00:00","items":["1.01","2.03","9.01"],"status":"ready","headline":"Plains All American extends revolver to Aug 2029; hedged inventory facility to Aug 2027","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Revolver maturity extended from Aug 2028 to Aug 17, 2029; total commitment unchanged at $1.35B.","Hedged inventory facility maturity extended from Aug 2026 to Aug 18, 2027.","Both facilities replace CDOR with CORRA as Canadian benchmark and eliminate bankers' acceptances.","One lender (Banco Bilbao) did not extend; its $64M revolver commitment matures Aug 20, 2027."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.3,"calibrated_materiality_score":0.3,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":203076,"accession_number":"0001070423-24-000017","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2024-08-02T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Plains All American Q2 Adjusted EBITDA $674M; raises 2024 guidance by $75M","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net income attributable to PAA $250M ($0.26 diluted EPS); adjusted net income $288M ($0.31 diluted).","Adjusted EBITDA attributable to PAA $674M, up 13% YoY; raises full-year 2024 guidance to $2.725-2.775B.","Q2 distribution declared $0.3175/unit, up 19% YoY; implied DCF per unit $0.58.","Priced $650M senior notes at 5.7% due 2034; net cash provided by ops $653M.","Adjusted Free Cash Flow (excl A&L) $421M; reaffirms FY 2024 AFFC guidance of $1.55B."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":24928000000.0,"consensus_period":"2024-Q2","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":219367,"accession_number":"0001104659-24-075672","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2024-06-27T23:59:59+00:00","items":["1.01","2.03","9.01"],"status":"ready","headline":"Plains All American Pipeline issues $650M of 5.700% Senior Notes due 2034","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["$650M aggregate principal of 5.700% senior unsecured notes maturing Sep 15, 2034.","Interest payable semi-annually on March 15 and Sep 15; first payment March 15, 2025.","Notes rank equally with existing and future senior debt; effectively subordinated to secured debt.","Indenture includes covenants limiting liens, sale/leaseback, mergers, and asset sales."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":219366,"accession_number":"0001104659-24-073377","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2024-06-20T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"Plains All American Pipeline prices $650M of 5.700% Senior Notes due 2034","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Issued $650 million aggregate principal amount of 5.700% Senior Notes due 2034.","Offering expected to close on June 27, 2024, subject to customary closing conditions.","Notes issued under shelf registration statement filed with SEC on September 8, 2021.","Underwriters include Citigroup, MUFG Securities, SMBC Nikko, and Truist Securities."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":219365,"accession_number":"0001104659-24-065666","cik":1070423,"company_name":"PLAINS ALL AMERICAN PIPELINE LP","ticker":"PAA","form_type":"8-K","filed_at":"2024-05-28T23:59:59+00:00","items":["5.07"],"status":"ready","headline":"Plains All American Pipeline unitholders approve all proposals at 2024 annual meeting","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["Elected Greg Armstrong, John Raymond, Bobby Shackouls as Class III directors with 99.2%, 99.0%, 96.2% FOR respectively.","Ratified PwC as auditor for fiscal 2024 with 98.3% FOR.","Approved 2023 named executive officer compensation on advisory basis with 97.7% FOR.","Adopted annual advisory vote on executive compensation; next required vote by 2030.","Approximately 81.6% of eligible units were represented at the meeting."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.25,"calibrated_materiality_score":0.15,"market_cap_usd":16206062258.86375,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null}],"next_cursor":null}