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The company began in 1981 as a small oil and gas exploration and production company called Plains Resources. It became a publicly traded company via an initial public offering in 1998.
Major acquisitions include:
1998 - All American Pipeline System
1999 - Scurlock Oil Company Permian and west Texas pipeline from Chevron Corporation for $35 million
2001 - Midstream operations of Murphy Oil for $155 million
2001 - CANPET Energy Group, a liquified gas marketing company based in Canada, for $42 million
2004 - Capline Pipeline System
2004 - Link Energy pipeline system for $273 million
2005 - Assets in Louisiana from Shell Oil Company for $12 million
2006 - Pacific Energy Partners for $2.4 billion
2008 - Rainbow oil pipeline in Northern Alberta
2012 - Canadian NGL business from BP
2017 - Alpha Crude Connector gathering system and pipeline in the Permian Basin for $1.2 billion.
2019- The Cactus II Pipeline System enters service, capable of transporting 670,000 barrels of crude oil per day from Wink, Texas to Corpus Christi.
2021- Plains Oryx Permian Basin, a joint venture between Plains and Oryx Midstream Services, is formed. The combined system includes ~5,500 miles of pipeline, ~6.8 million barrels per day of pipeline capacity, and ~16.9 million barrels operational storage capacity.
2025 - Diamondback Energy, Inc and Kinetik Holdings Inc. - operators of the EPIC Crude Oil Pipeline.