Protracted total long-term costs of pipeline spill are now knowable: less than $250mm.
When measured against EBITDA and Net Income, total impact is not large.
Overall loss of 2% long-term Net Income, but stock is sold off over 6% - not commensurate.
On May 19, 2015, a 24-inch diameter on-shore crude oil pipeline owned and operated by Plains All American Pipeline, L.P. (NYSE:PAA) (NYSE:PAGP), ruptured causing a grand total of approximately 2,000 bbl of crude oil liquids to be released along the shoreline spanning the area between the townships of Goleta and Santa Barbara, CA. This was a significant event for the region and local regulatory agencies immediately became involved. While not massive, the rupture is the largest onshore incident along the California coast in 40 years.
On May 21, 2015, the U.S. Dept. of Transportation ordered the ruptured pipeline to be shutdown (the 24-inch diameter line 901), pending an intensive inspection of its structural integrity and remediation of any faults.