Company: PAGP
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001581990-25-000013
Chunk: 62

Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 62
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alling agreements and the sale of gathered and bulk-purchased crude oil. Tariffs and other fees on our pipeline systems are typically based on volumes transported and vary by receipt point and delivery point. Fees for our terminalling and storage services are based on capacity leases and throughput volumes. Generally, results from our merchant activities are impacted by (i) increases or decreases in our lease gathering crude oil purchases volumes and (ii) volatility in commodity price differentials, particularly grade and location differentials, as well as time spreads. The segment results also include the direct fixed and variable field costs of operating the crude oil assets, as well as an allocation of indirect operating costs.  

The following tables set forth our operating results from our Crude Oil segment:

Operating Results (1)Three Months EndedMarch 31,Variance(in millions)20252024$%Revenues$11,439 $11,582 $(143)(1)%Purchases and related costs(10,488)(10,665)177 2 %Field operating costs(292)(266)(26)(10)%Segment general and administrative expenses (2)(79)(73)(6)(8)%Equity earnings in unconsolidated entities103 95 8 8 %Other segment items (3):Depreciation and amortization of unconsolidated entities20 19 1 **Derivative activities and inventory valuation adjustments(24)37 (61)**Long-term inventory costing adjustments— (28)28 **Deficiencies under minimum volume commitments, net(7)(12)5 **Equity-indexed compensation expense9 9 — **Foreign currency revaluation— (17)17 **Transaction-related expenses5 — 5 **Segment amounts attributable to noncontrolling interests in consolidated joint ventures(127)(128)1 **Segment Adjusted EBITDA$559 $553 $6 1 %Maintenance capital expenditures$31 $46 $(15)(33)%

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Three Months EndedMarch 31,VarianceAverage Volumes20252024Volumes%Crude oil pipeline tariff (by region) (4) (5)    Permian Basin6,869 6,428 441 7 %South Texas / Eagle Ford492 378 114 30 %Mid-Continent415 486 (71)(15)%Other1,310 1,308 2 — %Total crude oil pipeline tariff 9,