01.03.2005 22:56:00
|
Pacific Energy Partners, L.P. Announces West Coast Pipelines Online
Business Editors/Energy Editors
LONG BEACH, Calif.--(BUSINESS WIRE)--March 1, 2005--Pacific Energy Partners, L.P. (NYSE:PPX) announced that Line 63 and Line 2000, which were shut down last week as a result of earth movement and stream erosion caused by heavy rainfall, have been returned to service. Line 2000 was operational as of late Friday, February 25, 2005 and Line 63 was returned to service on Saturday, February 26, 2005. Since both lines have excess pumping capacity, we expect that volumes not delivered in February, will be delivered in March.
As previously stated, Pacific Energy does not expect this event to have a material impact on its financial results for the first quarter of 2005 or for full year 2005. Therefore, the announced earnings guidance provided in February 2005 remains unchanged.
ABOUT PACIFIC ENERGY:
Pacific Energy Partners, L.P. is a master limited partnership headquartered in Long Beach, California. Pacific Energy is engaged principally in the business of gathering, transporting, storing and distributing crude oil and other related products in California and the Rocky Mountain region, including Alberta, Canada. Pacific Energy generates revenues primarily by transporting crude oil on its pipelines and by leasing capacity in its storage facilities. Pacific Energy also buys, blends and sells crude oil, activities that are complementary to its pipeline transportation business.
This news release may include "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical fact included or incorporated herein may constitute forward-looking statements. Although the Partnership believes that the forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. The forward-looking statements involve risks and uncertainties that affect the Partnership's operations and financial performance. Among the factors that could cause results to differ materially are those risks discussed in the Partnership's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2003.
--30--SW/la*
CONTACT: Pacific Energy Partners, L.P. Aubrye Harris, 562-728-2871 Fax: 562-728-2881 aharris@PacificEnergy.com
KEYWORD: CALIFORNIA INTERNATIONAL CANADA INDUSTRY KEYWORD: OIL/GAS ENERGY PRODUCT SOURCE: Pacific Energy Partners, L.P.
Copyright Business Wire 2005