# PLAINS ALL AMERICAN PIPELINE LP (PAAPU) — capital_return/buyback_authorization [announced]
Source: SEC API (secapi.ai) · situation sit_6099f075d263916936f1 · retrieved 2026-08-12T07:22:19.638Z

## Overview
Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil and natural gas liquids, with an extensive network of pipeline gathering and transportation systems serving key producing basins and major market hubs in the United States and Canada.

Plains All American Pipeline, L.P. completed the sale of substantially all of its Canadian NGL (natural gas liquids) business to Keyera Corp. on May 12, 2026, pursuant to a definitive share purchase agreement originally entered into on June 17, 2025. The transaction generated a net gain of approximately $1.6 billion and net cash proceeds of approximately $3.483 billion (net of cash divested), which were used to reduce debt and bring the company's leverage ratio to 3.3x, within its target range of 3.25x to 3.75x.

## Terms
- Counterparty: Keyera Corp. · Deal value: $3.48B · Consideration: cash

## Key dates
- Announced 2026-08-07

## Timeline
- 2026-08-07 · 8-K (0001070423-26-000028): 8-K - PLAINS ALL AMERICAN PIPELINE LP — *Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil and natural gas liquids, with an extensive network of pipeline gathering and transportation systems serving key producing basins and major market hubs in the United States and Canada.* Plains All American Pipeline, L.P. completed the sale of substantially all of its Canadian NGL (natural gas liquids) business to Keyera Corp. on May 12, 2026, pursuant to a definitive share purchase agreement originally entered into on June 17, 2025. The transaction generated a net gain of approximately $1.6 billion and net cash proceeds of approximately $3.483 billion (net of cash divested), which were used to reduce debt and bring the company's leverage ratio to 3.3x, within its target range of 3.25x to 3.75x.
  https://www.sec.gov/Archives/edgar/data/1070423/0001070423-26-000028.txt

## Citations
- 0001070423-26-000028 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000107042326000028