Every material Form 8-K PLAINS ALL AMERICAN PIPELINE LP has filed with the SEC since September 09, 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Plains All American reported third-quarter 2026 results on November 6, 2026. Revenue and adjusted EBITDA attributable to PAA rose, but net income attributable to PAA fell 18% and the per-unit result turned to a loss of $(0.06), which the company tied in part to a $358 million impact from repurchasing Series A preferred units. Management said it is on track to meet full-year 2026 adjusted EBITDA guidance of $2.880 billion, plus or minus $50 million.
Net income attributable to PAA was $363 million versus $441 million a year earlier; diluted net income/(loss) per common unit was $(0.06) versus $0.55.
Revenues were $15.173 billion versus $11.578 billion, and adjusted EBITDA attributable to PAA was $711 million, up 6%.
Full-year 2026 adjusted EBITDA attributable to PAA guidance of $2.880 billion plus or minus $50 million was reaffirmed as on track.
Distribution declared was $0.4175 per unit, up 10% from $0.3800 a year earlier.
Plains All American Pipeline and Plains GP Holdings appointed Dean Liollio, a Plains senior vice president, as executive vice president and chief operating officer effective October 2, 2026. He replaces Chris Chandler, who is resigning from the company to pursue other interests, not because of any disagreement over operations, policies or practices.
Chris Chandler gave notice of his resignation on September 25, 2026, effective October 2, 2026.
Dean Liollio, age 67, was Senior Vice President, Special Projects, from June 2024 and previously led Plains Midstream Canada.
Liollio will receive a $625,000 annual base salary, a 150% bonus target and a promotional grant of 150,000 phantom units vesting in August 2029.
Plains All American Pipeline completed a public offering of $700 million of 6.750% Series A notes and $800 million of 7.000% Series B notes, both due December 15, 2056. The notes are unsecured and rank junior to PAA's existing and future senior debt, so holders would be paid after senior creditors, and no subsidiaries guarantee them. The filing shows the company is adding $1.5 billion in debt-like obligations, with interest rates that can reset in 2031 and 2036, subject to a floor at the initial rate.
Series A: $700 million, 6.750% coupon, due December 15, 2056; rate can adjust December 15, 2031 and every five years after.
Series B: $800 million, 7.000% coupon, due December 15, 2056; rate can adjust December 15, 2036 and every five years after.
Interest is payable June 15 and December 15, starting June 15, 2027; rates cannot reset below the initial rate.
Underwriting agreement dated September 9, 2026 with J.P. Morgan Securities LLC, Citigroup Global Markets Inc. and others; notes sold under a Form S-3 shelf filed September 6, 2024.
Plains All American Pipeline priced $700 million of 6.75% Series A and $800 million of 7.00% Series B junior subordinated notes due 2056, expected to close September 14, 2026. The company plans to use the proceeds, with cash on hand and commercial paper, to redeem all of its outstanding Series A and Series B preferred units. The filing replaces preferred units with junior debt but does not state the effect on earnings or distributions.
$700 million of 6.75% Series A and $800 million of 7.00% Series B junior subordinated notes due 2056 priced, with closing expected September 14, 2026
Proceeds, cash on hand and commercial paper to redeem all 58,411,908 Series A preferred units and all 800,000 Series B preferred units
Series A units redeemed at $28.875 per unit (110% of $26.25 par) on or about September 14, 2026; Series B at $1,000 par on or about October 9, 2026
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every PLAINS ALL AMERICAN PIPELINE LP filing is on SEC EDGAR ↗. 8-K briefs of other companies →