Beach, California, April 6, 2005….Pacific Energy Partners, L.P. (NYSE:PPX) announced
that Timothy H. Day has been appointed a member of the board of directors
Day is currently a Vice President of First Reserve Corporation which, on March
21, 2005, acquired a minority interest in LB Pacific, LP, owner of the general
partner of Pacific Energy. Mr. Day’s
primary focus at First Reserve is developing and analyzing investment
opportunities in the energy industry.
Prior to joining First Reserve in 2000, Mr. Day held various positions
with SCF Partners, a Houston, Texas based investment firm. From 1992 to 1995 he served in the energy
investment banking divisions of Credit Suisse First Boston and Salomon Brothers
look forward to working with Tim as a member of our board,” stated Irv Toole, President
and Chief Executive Officer. “His knowledge
of financial markets and the energy industry will be an asset as Pacific Energy
continues to grow.”
Energy Partners, L.P. is a master limited partnership headquartered in Long
Beach, California. Pacific Energy is engaged
principally in the business of gathering, transporting, storing and
distributing crude oil and other related products in California and the Rocky
Mountain region, including Alberta, Canada.
Pacific Energy generates revenues primarily by transporting crude oil on
its pipelines and by leasing capacity in its storage facilities. Pacific Energy also buys, blends and sells
crude oil, activities that are complementary to its pipeline transportation
news release may include “forward-looking” statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended.
All statements other than statements of historical fact included or
incorporated herein may constitute forward-looking statements. Although Pacific Energy believes that the
forward-looking statements are reasonable, it can give no assurance that such
expectations will prove to be correct.
The forward-looking statements involve risks and uncertainties that may
affect Pacific Energy’s operations and financial performance. Among the factors that could cause results to
differ materially are those risks discussed in Pacific Energy’s filings with
the Securities and Exchange Commission, including our Annual Report on Form
10-K for the year ended December 31, 2004.
additional information about Pacific Energy, please visit our website at www.PacificEnergy.com.