Plains All American Pipeline and Plains GP Holdings have appointed Cynthia B. Taylor as an independent member of the Board of Directors of PAA GP Holdings. She will serve in Class III and join the Compensation Committee and the Health, Safety, Environmental and Sustainability Committee. Taylor brings over 30 years of energy industry experience, having served as CEO and President of Oil States International from May 2007 until her retirement in May 2026. She previously held senior financial roles at L.E. Simmons & Associates and Cliffs Drilling Company, and was a director at the Federal Reserve Bank of Dallas. Taylor currently serves on AT&T's board, chairing its audit committee. Plains All American Pipeline operates midstream energy infrastructure across the United States and Canada, handling over nine million barrels per day of crude oil and natural gas liquids.

Plains All American Pipeline has raised its full-year 2026 EBITDA guidance by $130 million, driven by outperformance in its NGL segment, crude optimisation gains and delayed asset divestiture timing. The company expects to reach the low end of its 3.25x to 3.75x leverage target by year-end following a $3.3 billion NGL asset sale. Management attributed first-quarter headwinds to Permian winter weather, system maintenance and timing of minimum volume commitments. The company anticipates incremental Permian production once natural gas takeaway constraints are resolved later this year, unlocking 200,000 to 300,000 barrels per day of shut-in oil. Net proceeds from the NGL divestiture increased approximately $100 million from previous estimates. Management cancelled a planned special distribution, as the Cactus III acquisition mitigated anticipated tax liabilities for unitholders.