---
schema_version: "secwatch.filing_event.v1"
accession: "0001581990-23-000014"
form_type: "8-K"
ticker: "PAGP"
cik: "0001581990"
company_name: "PLAINS GP HOLDINGS LP"
filed_at: "2023-08-04T23:59:59+00:00"
generated_at: "2026-06-12T06:00:47.560980+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Plains All American Q2 net income $293M; raises 2023 EBITDA to high-end; Permian bolt-on

## Summary
- Q2 net income attributable to PAA $293M ($0.32/unit), up 44% YoY; adjusted EBITDA $597M.
- Expects full-year 2023 adjusted EBITDA at high end of $2.45-2.55B; leverage <3.5x.
- Acquired Diamondback's 43% interest in OMOG JV for ~$225M ($145M net to PAA), closed July 28.
- Sanctioned Fort Saskatchewan debottlenecking (30 Mb/d capacity); extended contract tenors to ~10 years.
- Q2 distribution $0.2675/unit, up 23% YoY; free cash flow $650M.

## SEC filing metadata
- accession: 0001581990-23-000014
- form_type: 8-K
- ticker: PAGP
- cik: 0001581990
- company_name: PLAINS GP HOLDINGS LP
- filed_at: 2023-08-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1581990/000158199023000014/0001581990-23-000014-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1581990/000158199023000014/pagp-20230804.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001581990-23-000014
- JSON: https://secwatch.observer/filing/0001581990-23-000014.json
- Plain text: https://secwatch.observer/filing/0001581990-23-000014.txt

## Key facts
- Earnings Releases
  PLAINS GP HOLDINGS LP reported second-quarter 2023 results: net income Net income attributable to PAA of $293 million, EPS Diluted net income per common unit $ 0.32. Guidance reaffirmed.
  - Period: second-quarter 2023
  - Net income: Net income attributable to PAA of $293 million
  - EPS: Diluted net income per common unit $ 0.32
  - Guidance: reaffirmed
  - Result: reported results
  source text: Plains All American Reports Second-Quarter 2023 Results and Provides Updated 2023 Guidance
  evidence_url: https://www.sec.gov/Archives/edgar/data/1581990/000158199023000014/0001581990-23-000014-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.