{"schema_version":"secwatch.filing_event.v1","accession":"0001581990-25-000019","form_type":"8-K","ticker":"PAGP","cik":"0001581990","company_name":"PLAINS GP HOLDINGS LP","filed_at":"2025-08-08T23:59:59+00:00","discovered_at":"2026-05-14T18:02:44.413888+00:00","generated_at":"2026-05-17T16:35:29.144087+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Plains GP Q2 net income $210M (PAA), NGL sale to Keyera for $3.75B","bullets":["Net income attributable to PAA $210M ($0.21/unit), down 16% YoY; adjusted EBITDA $672M flat.","Exited Q2 with leverage ratio 3.3x, low-end of 3.25x-3.75x target range.","Signed agreement to sell Canadian NGL business to Keyera for ~$5.15B CAD ($3.75B USD); close expected Q1 2026 subject to regulatory approval.","Acquired additional 20% interest in BridgeTex Pipeline on July 22, 2025, raising total to 40%.","Distribution increased 20% to $0.38/unit; adjusted free cash flow after distributions fell 78% to $28M."],"urls":{"canonical":"https://secwatch.observer/filing/0001581990-25-000019","json":"https://secwatch.observer/filing/0001581990-25-000019.json","markdown":"https://secwatch.observer/filing/0001581990-25-000019.md","text":"https://secwatch.observer/filing/0001581990-25-000019.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1581990/000158199025000019/0001581990-25-000019-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1581990/000158199025000019/pagp-20250808.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T16:35:29.144087+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}