February 2014 Price Bulletin Recap.xlsm


Feb 3, 2014 - 92.75 *. 94.75 *. 95.25 *. South Louisiana Eugene Island (Onshore). .... 86.25 *. 86.75 *. NORTH DAKOTA. ` ` ` ` ` ` ` Williston Basin Sweet.

1

CRUDE OIL PRICE BULLETIN - RECAP FEBRUARY 2014

PLAINS MARKETING, L.P.

Effective 7:00 AM on the effective date(s) shown, subject to change without notice and subject to its division orders and other contracts Plains Marketing LP will pay the following prices adjusted for American Petroleum Institute (API) gravity per barrel.

PLAINS MARKETING, L.P. 333 CLAY, SUITE 1600 P.O. BOX 4648 HOUSTON, TEXAS 77002 0

0

BULLETIN No: EFFECTIVE DATE: TEXAS West Texas Intermediate - Area #1................................................................ West Texas Intermediate - All Other Areas.................................................... West Texas Sour............................................................................................. West Central Texas......................................................................................... North Texas Sweet........................................................................................... North Texas (Cooke & Grayson) Sweet......................................................... North Texas (Cooke & Grayson) Sour........................................................... East Texas Field............................................................................................... East Texas (Other than E.. TX.. Field)............................................................ East Texas Sour............................................................................................... East Texas Light Sour...................................................................................... East Texas Condensate………………………………………………………… Texas Upper Gulf Coast.................................................................................. Texas Central Gulf Coast (Giddings)............................. ................................ South Texas Light (Sweet).............................................. ................................ South Texas Heavy......................................................... ................................ South Texas Sour............................................................................................. Texas Panhandle.............................................................................................. South Texas Sweet.......................................................................................... Eagle Ford Light............................................................................................... NEW MEXICO ` New Mexico Intermediate................................................................................ New Mexico Sour............................................................................................. LOUISIANA ` North Louisiana................................................................................................ Central Louisiana Sweet.................................................................................. North Louisiana Nacatoch............................................................................... Central Louisiana LCT..................................................................................... North Louisiana Condensate…………………………………………………… South Louisiana Light Sweet (Onshore)......................................................... South Louisiana Eugene Island (Onshore)..................................................... South Arkansas and North Louisiana Sour…………………………………… MISSISSIPPI ` Mississippi Light Sweet………………………………………………………… Mississippi Light Sour…………………………………………………………… COLORADO ` Colorado Southeastern.................................................................................... D-J Basin.......................................................................................................... Colorado Western............................................................................................ UTAH ` Black Wax......................................................................................................... ILLINOIS ` Illinois Sweet..................................................................................................... INDIANA ` Indiana Sweet................................................................................................... KANSAS ` Kansas Common.............................................................................................. Eastern Kansas Common................................................................................ Eastern Kansas Common Special………………………………………………

Northwestern Kansas Sweet........................................................... Southwestern Kansas Sweet........................................................... Central Kansas Sweet..................................................................................... NEBRASKA ` Nebraska Western........................................................................................... Nebraska Intermediate.................................................................................... NORTH DAKOTA ` Williston Basin Sweet....................................................................................... Williston Basin Sour......................................................................................... OKLAHOMA ` Domestic Sweet (Cushing).............................................................................. Oklahoma Sweet.............................................................................................. Oklahoma Sweet Special………………………………………………………… Oklahoma Sweet-Central................................................................................. Western Oklahoma ......................................................................................... Oklahoma Panhandle ...................................................................................... Oklahoma Sour................................................................................................. Oklahoma Condensate.................................................................................... Oklahoma Condensate Light........................................................................... WYOMING ` Wyoming Southwestern Area.......................................................................... Wyoming Sweet other Areas........................................................................... Wyoming General Sour.................................................................................... Wyoming Asphaltic Sour.................................................................................. (1) The gravity adjustment scale and other terms are set forth on Page 5.

2/28/2014

1 2014-020 01/31/14 $/BBL 93.50 94.00 88.80 94.00 94.00 91.75 86.00 91.25 91.25 86.00 89.25 90.75 87.75 87.75 87.75 87.50 81.25 93.50 94.00 94.00

2014-021 02/03/14 $/BBL * * * * * * * * * * * * * * * * * * * *

92.25 92.75 89.05 92.75 92.75 92.75 85.25 92.00 92.00 85.25 88.50 91.50 86.50 86.50 86.50 86.25 80.00 92.25 92.75 92.75

2014-022 02/04/14 $/BBL * * * * * * * * * * * * * * * * * * * *

` 94.00 * 88.80 * * * * * * * * *

* * * * * * * *

`

84.50 * 81.30 * 82.38 * ` 79.20 *

` 77.95 *

` 90.50 *

` 89.25 *

` 90.50 * * * * * * *

* * * * * *

`

79.19 * 69.58 *

`

77.94 * 68.33 *

87.08 79.10 62.28 60.33

* * * *

` 78.94 * 69.33 *

* * * * * * * * *

85.83 77.85 61.03 59.08

* * * *

`

79.19 * 69.58 *

* * * * * * * * *

86.83 78.85 62.03 60.08

* * * *

`

* * * * * * * * *

87.08 79.10 62.28 60.33

* * * *

`

87.25 87.00 82.45 87.75 88.25 89.35

* * * * * *

79.44 * 69.83 *

87.33 79.35 62.53 60.58

* * * *

`

* * * * * *

` 84.05 * 86.75 * ` 81.44 * 71.83 *

` * * * * * * * * *

87.75 87.50 82.95 88.25 88.75 89.85

83.55 * 86.25 * `

94.25 94.25 90.25 94.25 89.75 89.25 81.75 90.48 88.60

93.25 * `

`

` 94.00 94.00 90.00 94.00 89.50 89.00 81.50 90.24 88.36

93.25 * `

92.75 *

81.55 * 84.25 * `

` 93.75 93.75 89.75 93.75 89.25 88.75 81.25 90.00 88.13

92.75 *

* * * * * *

`

81.95 * `

` 85.25 85.00 80.45 86.00 86.25 87.35

81.30 * 84.00 *

`

` 90.75 *

* * * * * *

`

` 92.75 92.75 88.75 92.75 88.25 87.75 80.25 89.04 87.19

85.00 84.75 80.20 85.75 86.00 87.10

81.05 * 83.75 * `

` * * * * * * * * *

* * * * * *

86.75 * 84.05 * 85.13 *

81.45 * `

`

95.25 * 90.50 * `

86.25 * 83.55 * 84.63 *

90.75 *

* * * * * * * *

`

`

` 90.50 *

` 84.75 84.50 79.95 85.50 85.75 86.85

80.05 * 82.75 * `

90.50 *

94.75 96.25 97.00 96.50 94.25 95.25 92.25 91.25

94.75 * 90.00 *

79.45 * `

` 90.25 *

` 83.75 83.50 78.95 84.50 84.75 85.85

81.30 * 84.00 *

94.00 94.00 90.00 94.00 89.50 89.00 81.50 90.24 88.36

90.25 * `

89.25 * `

85.00 84.75 80.20 85.75 86.00 87.10

`

* * * * * * * *

`

`

96.75 * 92.05 * `

`

84.75 * 81.55 * 82.63 *

* * * * * * * * * * * * * * * * * * * *

`

94.25 95.75 96.50 96.00 93.75 94.75 91.75 90.75

92.75 * 88.00 *

79.20 *

96.25 96.75 92.05 96.75 96.75 96.75 89.25 96.00 96.00 89.25 92.50 95.50 90.50 90.50 90.50 90.25 84.00 96.25 96.75 96.75

96.25 * 91.55 *

* * * * * * * *

`

` 78.95 *

* * * * * * * * * * * * * * * * * * * *

`

`

84.50 * 81.30 * 82.38 *

2014-026 02/10/14 $/BBL

`

92.25 93.75 94.50 94.00 91.75 92.75 89.75 88.75

92.50 * 87.75 * `

95.75 96.25 91.55 96.25 96.25 96.25 88.75 95.50 95.50 88.75 92.00 95.00 90.00 90.00 90.00 89.75 83.50 95.75 96.25 96.25

94.25 * 89.55 *

* * * * * * * *

`

84.25 * 81.05 * 82.13 *

* * * * * * * * * * * * * * * * * * * *

` 92.00 93.50 94.25 93.75 91.50 92.50 89.50 88.50

92.25 * 87.50 * `

93.75 94.25 89.55 94.25 94.25 94.25 86.75 93.50 93.50 86.75 90.00 93.00 88.00 88.00 88.00 87.75 81.50 93.75 94.25 94.25

2 2014-025 02/07/14 $/BBL

`

`

`

83.25 * 80.05 * 81.13 *

* * * * * * * * * * * * * * * * * * * *

94.00 * 89.30 *

* * * * * * * *

3 2014-024 02/06/14 $/BBL

`

91.75 93.25 94.00 93.50 91.25 92.25 89.25 88.25

91.25 * 86.50 * `

93.50 94.00 89.30 94.00 94.00 94.00 86.50 93.25 93.25 86.50 89.75 92.75 87.75 87.75 87.75 87.50 81.25 93.50 94.00 94.00

93.75 * 89.05 * `

90.75 92.25 93.00 92.50 90.25 91.25 88.25 87.25

92.50 * 87.75 *

* * * * * * * * * * * * * * * * * * * *

` 92.75 * 89.05 *

` 91.25 93.50 94.25 93.75 90.75 92.50 89.50 88.50

93.25 93.75 89.05 93.75 93.75 93.75 86.25 93.00 93.00 86.25 89.50 92.50 87.50 87.50 87.50 87.25 81.00 93.25 93.75 93.75

2014-023 02/05/14 $/BBL

81.94 * 72.33 * `

96.25 96.25 92.25 96.25 91.75 91.25 83.75 92.40 90.48

* * * * * * * * *

89.33 81.35 64.53 62.58

* * * *

`

96.75 96.75 92.75 96.75 92.25 91.75 84.25 92.88 90.95

* * * * * * * * *

89.83 81.85 65.03 63.08

* * * *

`

Please visit our Internet Web Site, www.plainsmarketing.com or www.paalp.com for price bulletin information.

Page 1 of 5

2

CRUDE OIL PRICE BULLETIN - RECAP FEBRUARY 2014

PLAINS MARKETING, L.P.

PLAINS MARKETING, L.P. 333 CLAY, SUITE 1600 P.O. BOX 4648 HOUSTON, TEXAS 77002 0

1

BULLETIN No: EFFECTIVE DATE:

2014-027 02/11/14 $/BBL

TEXAS West Texas Intermediate - Area #1................................................................ West Texas Intermediate - All Other Areas.................................................... West Texas Sour............................................................................................. West Central Texas......................................................................................... North Texas Sweet........................................................................................... North Texas (Cooke & Grayson) Sweet......................................................... North Texas (Cooke & Grayson) Sour........................................................... East Texas Field............................................................................................... East Texas (Other than E.. TX.. Field)............................................................ East Texas Sour............................................................................................... East Texas Light Sour...................................................................................... East Texas Condensate………………………………………………………… Texas Upper Gulf Coast.................................................................................. Texas Central Gulf Coast (Giddings)............................. ................................ South Texas Light (Sweet).............................................. ................................ South Texas Heavy......................................................... ................................ South Texas Sour............................................................................................. Texas Panhandle.............................................................................................. South Texas Sweet.......................................................................................... Eagle Ford Light............................................................................................... NEW MEXICO ` New Mexico Intermediate................................................................................ New Mexico Sour............................................................................................. ` LOUISIANA North Louisiana................................................................................................ Central Louisiana Sweet.................................................................................. North Louisiana Nacatoch............................................................................... Central Louisiana LCT..................................................................................... North Louisiana Condensate…………………………………………………… South Louisiana Light Sweet (Onshore)......................................................... South Louisiana Eugene Island (Onshore)..................................................... South Arkansas and North Louisiana Sour…………………………………… MISSISSIPPI ` Mississippi Light Sweet………………………………………………………… Mississippi Light Sour…………………………………………………………… COLORADO ` Colorado Southeastern.................................................................................... D-J Basin.......................................................................................................... Colorado Western............................................................................................ UTAH ` Black Wax......................................................................................................... ILLINOIS ` Illinois Sweet..................................................................................................... INDIANA ` Indiana Sweet................................................................................................... KANSAS ` Kansas Common.............................................................................................. Eastern Kansas Common................................................................................ Eastern Kansas Common Special………………………………………………

Northwestern Kansas Sweet........................................................... Southwestern Kansas Sweet........................................................... Central Kansas Sweet..................................................................................... NEBRASKA ` Nebraska Western........................................................................................... Nebraska Intermediate.................................................................................... NORTH DAKOTA ` Williston Basin Sweet....................................................................................... Williston Basin Sour......................................................................................... OKLAHOMA ` Domestic Sweet (Cushing).............................................................................. Oklahoma Sweet.............................................................................................. Oklahoma Sweet Special………………………………………………………… Oklahoma Sweet-Central................................................................................. Western Oklahoma ......................................................................................... Oklahoma Panhandle ...................................................................................... Oklahoma Sour................................................................................................. Oklahoma Condensate.................................................................................... Oklahoma Condensate Light........................................................................... ` WYOMING Wyoming Southwestern Area.......................................................................... Wyoming Sweet other Areas........................................................................... Wyoming General Sour.................................................................................... Wyoming Asphaltic Sour.................................................................................. (1) The gravity adjustment scale and other terms are set forth on Page 5.

2/28/2014

96.00 96.50 91.80 96.50 96.50 96.50 89.00 95.75 95.75 89.00 92.25 95.25 90.25 90.25 90.25 90.00 83.75 96.00 96.50 96.50

1 2014-028 02/12/14 $/BBL

* * * * * * * * * * * * * * * * * * * *

96.25 96.75 92.05 96.75 96.75 96.75 89.25 96.00 96.00 89.25 92.50 95.50 90.50 90.50 90.50 90.25 84.00 96.25 96.75 96.75

* * * * * * * * * * * * * * * * * * * *

` 96.50 * 91.80 * * * * * * * * *

` 81.70 *

` 81.95 *

` 93.00 *

` 93.25 *

` 93.00 * ` * * * * * *

`

81.69 * 72.08 *

`

81.94 * 72.33 *

89.58 81.60 64.78 62.83

* * * *

` 82.19 * 72.58 *

* * * * * * * * *

89.83 81.85 65.03 63.08

* * * *

`

81.94 * 72.33 *

* * * * * * * * *

90.08 82.10 65.28 63.33

* * * *

`

* * * * * * * * *

89.83 81.85 65.03 63.08

* * * *

`

90.00 89.75 85.20 90.50 91.00 92.10

* * * * * *

77.44 * 62.33 *

89.83 77.85 60.03 55.08

* * * *

`

* * * * * *

` 87.05 * 89.75 * ` 79.69 * 64.58 *

` * * * * * * * * *

90.75 90.50 85.95 91.25 91.75 92.85

86.30 * 89.00 * `

96.75 96.75 92.75 96.75 92.25 91.75 84.25 92.88 90.95

96.25 * `

`

` 96.75 96.75 92.75 96.75 92.25 91.75 84.25 92.88 90.95

96.25 * `

95.50 *

84.05 * 86.75 * `

` 97.00 97.00 93.00 97.00 92.50 92.00 84.50 93.12 91.18

95.50 *

* * * * * *

`

84.95 * `

` 87.75 87.50 82.95 88.25 88.75 89.85

84.05 * 86.75 *

`

` 93.25 *

* * * * * *

`

` 96.75 96.75 92.75 96.75 92.25 91.75 84.25 92.88 90.95

87.75 87.50 82.95 88.25 88.75 89.85

84.30 * 87.00 * `

` * * * * * * * * *

* * * * * *

89.75 * 87.05 * 88.13 *

84.20 * `

`

98.25 * 93.50 * `

89.00 * 86.30 * 87.38 *

93.25 *

* * * * * * * *

`

`

` 93.25 *

` 88.00 87.75 83.20 88.50 89.00 90.10

84.05 * 86.75 * `

93.25 *

97.75 99.25 100.00 99.50 97.25 98.25 95.25 94.25

97.50 * 92.75 *

81.95 * `

` 93.50 *

` 87.75 87.50 82.95 88.25 88.75 89.85

83.80 * 86.50 *

96.50 96.50 92.50 96.50 92.00 91.50 84.00 92.64 90.71

93.50 *

* * * * * * * *

`

` 81.95 *

`

` 93.25 *

* * * * * *

` 82.20 *

99.75 * 95.05 * `

`

86.75 * 84.05 * 85.13 *

* * * * * * * * * * * * * * * * * * * *

`

97.00 98.50 99.25 98.75 96.50 97.50 94.50 93.50

95.25 * 90.50 * `

99.25 99.75 95.05 99.75 99.75 99.75 92.25 99.00 99.00 92.25 95.50 98.50 93.50 93.50 93.50 93.25 87.00 99.25 99.75 99.75

99.00 * 94.30 *

* * * * * * * *

`

86.75 * 84.05 * 85.13 *

* * * * * * * * * * * * * * * * * * * *

` 94.75 96.25 97.00 96.50 94.25 95.25 92.25 91.25

95.25 * 90.50 * `

98.50 99.00 94.30 99.00 99.00 99.00 91.50 98.25 98.25 91.50 94.75 97.75 92.75 92.75 92.75 92.50 86.25 98.50 99.00 99.00

2014-033 02/19/14 $/BBL

`

`

`

87.00 * 84.30 * 85.38 *

* * * * * * * * * * * * * * * * * * * *

96.75 * 92.05 *

* * * * * * * *

1 2014-032 02/18/14 $/BBL

`

94.75 96.25 97.00 96.50 94.25 95.25 92.25 91.25

95.50 * 90.75 * `

96.25 96.75 92.05 96.75 96.75 96.75 89.25 96.00 96.00 89.25 92.50 95.50 90.50 90.50 90.50 90.25 84.00 96.25 96.75 96.75

96.75 * 92.05 *

* * * * * * * *

`

86.75 * 84.05 * 85.13 *

* * * * * * * * * * * * * * * * * * * *

` 95.00 96.50 97.25 96.75 94.50 95.50 92.50 91.50

95.25 * 90.50 * `

96.25 96.75 92.05 96.75 96.75 96.75 89.25 96.00 96.00 89.25 92.50 95.50 90.50 90.50 90.50 90.25 84.00 96.25 96.75 96.75

1 2014-031 02/17/14 $/BBL

`

`

`

86.50 * 83.80 * 84.88 *

* * * * * * * * * * * * * * * * * * * *

97.00 * 92.30 *

* * * * * * * *

1 2014-030 02/14/14 $/BBL

`

94.75 96.25 97.00 96.50 94.25 95.25 92.25 91.25

95.00 * 90.25 *

87.50 87.25 82.70 88.00 88.50 89.60

96.50 97.00 92.30 97.00 97.00 97.00 89.50 96.25 96.25 89.50 92.75 95.75 90.75 90.75 90.75 90.50 84.25 96.50 97.00 97.00

96.75 * 92.05 * `

94.50 96.00 96.75 96.25 94.00 95.00 92.00 91.00

1 2014-029 02/13/14 $/BBL

80.44 * 65.33 * `

99.00 99.00 95.00 99.00 94.50 94.00 86.50 95.04 93.06

* * * * * * * * *

92.08 80.10 62.28 57.33

* * * *

`

99.75 99.75 95.75 99.75 95.25 94.75 87.25 95.76 93.77

* * * * * * * * *

92.83 80.85 63.03 58.08

* * * *

`

Please visit our Internet Web Site, www.plainsmarketing.com or www.paalp.com for price bulletin information.

Page 2 of 5

3

CRUDE OIL PRICE BULLETIN - RECAP FEBRUARY 2014

PLAINS MARKETING, L.P.

PLAINS MARKETING, L.P. 333 CLAY, SUITE 1600 P.O. BOX 4648 HOUSTON, TEXAS 77002 0

1

BULLETIN No: EFFECTIVE DATE: TEXAS West Texas Intermediate - Area #1................................................................ West Texas Intermediate - All Other Areas.................................................... West Texas Sour............................................................................................. West Central Texas......................................................................................... North Texas Sweet........................................................................................... North Texas (Cooke & Grayson) Sweet......................................................... North Texas (Cooke & Grayson) Sour........................................................... East Texas Field............................................................................................... East Texas (Other than E.. TX.. Field)............................................................ East Texas Sour............................................................................................... East Texas Light Sour...................................................................................... East Texas Condensate………………………………………………………… Texas Upper Gulf Coast.................................................................................. Texas Central Gulf Coast (Giddings)............................. ................................ South Texas Light (Sweet).............................................. ................................ South Texas Heavy......................................................... ................................ South Texas Sour............................................................................................. Texas Panhandle.............................................................................................. South Texas Sweet.......................................................................................... Eagle Ford Light............................................................................................... ` NEW MEXICO New Mexico Intermediate................................................................................ New Mexico Sour............................................................................................. ` LOUISIANA North Louisiana................................................................................................ Central Louisiana Sweet.................................................................................. North Louisiana Nacatoch............................................................................... Central Louisiana LCT..................................................................................... North Louisiana Condensate…………………………………………………… South Louisiana Light Sweet (Onshore)......................................................... South Louisiana Eugene Island (Onshore)..................................................... South Arkansas and North Louisiana Sour…………………………………… ` MISSISSIPPI Mississippi Light Sweet………………………………………………………… Mississippi Light Sour…………………………………………………………… COLORADO ` Colorado Southeastern.................................................................................... D-J Basin.......................................................................................................... Colorado Western............................................................................................ UTAH ` Black Wax......................................................................................................... ILLINOIS ` Illinois Sweet..................................................................................................... INDIANA ` Indiana Sweet................................................................................................... KANSAS ` Kansas Common.............................................................................................. Eastern Kansas Common................................................................................ Eastern Kansas Common Special………………………………………………

Northwestern Kansas Sweet........................................................... Southwestern Kansas Sweet........................................................... Central Kansas Sweet..................................................................................... NEBRASKA ` Nebraska Western........................................................................................... Nebraska Intermediate.................................................................................... NORTH DAKOTA ` Williston Basin Sweet....................................................................................... Williston Basin Sour......................................................................................... OKLAHOMA ` Domestic Sweet (Cushing).............................................................................. Oklahoma Sweet.............................................................................................. Oklahoma Sweet Special………………………………………………………… Oklahoma Sweet-Central................................................................................. Western Oklahoma ......................................................................................... Oklahoma Panhandle ...................................................................................... Oklahoma Sour................................................................................................. Oklahoma Condensate.................................................................................... Oklahoma Condensate Light........................................................................... WYOMING ` Wyoming Southwestern Area.......................................................................... Wyoming Sweet other Areas........................................................................... Wyoming General Sour.................................................................................... Wyoming Asphaltic Sour.................................................................................. (1) The gravity adjustment scale and other terms are set forth on Page 5.

2/28/2014

3 2014-034 02/20/14 $/BBL 99.00 99.50 94.80 99.50 99.50 99.50 92.00 98.75 98.75 92.00 95.25 98.25 93.25 93.25 93.25 93.00 86.75 99.00 99.50 99.50

1 2014-035 02/21/14 $/BBL

* * * * * * * * * * * * * * * * * * * *

98.25 98.75 94.05 98.75 98.75 98.75 91.25 98.00 98.00 91.25 94.50 97.50 92.50 92.50 92.50 92.25 86.00 98.25 98.75 98.75

2014-036 02/24/14 $/BBL * * * * * * * * * * * * * * * * * * * *

` 99.50 * 94.80 * * * * * * * * *

* * * * * * * *

`

89.50 * 86.80 * 87.88 * ` 84.70 * ` 96.00 *

95.25 * `

96.00 * ` 90.50 90.25 85.70 91.00 91.50 92.60

* * * * * * `

80.19 * 65.08 *

79.44 * 64.33 *

92.58 80.60 62.78 57.83

* * * *

* * * * * * * * *

91.83 79.85 62.03 57.08

* * * *

`

89.25 89.00 84.45 89.75 90.25 91.35

* * * * * *

79.69 * 64.58 *

92.08 80.10 62.28 57.33

* * * *

`

* * * * * *

` 86.30 * 89.00 * ` 78.94 * 63.83 *

` * * * * * * * * *

90.00 89.75 85.20 90.50 91.00 92.10

85.55 * 88.25 * `

99.00 99.00 95.00 99.00 94.50 94.00 86.50 95.04 93.06

95.50 * `

`

` 98.75 98.75 94.75 98.75 94.25 93.75 86.25 94.80 92.83

95.50 * `

94.75 *

86.30 * 89.00 * `

` * * * * * * * * *

94.75 *

* * * * * *

`

84.20 * `

` 90.00 89.75 85.20 90.50 91.00 92.10

89.00 * 86.30 * 87.38 * `

` 95.50 *

86.05 * 88.75 * `

99.50 99.50 95.50 99.50 95.00 94.50 87.00 95.52 93.53

95.50 *

* * * * * *

97.50 * 92.75 *

83.45 * `

` 89.75 89.50 84.95 90.25 90.75 91.85

86.80 * 89.50 *

`

` 95.25 *

* * * * * * * *

` 88.25 * 85.55 * 86.63 *

84.20 * `

97.00 98.50 99.25 98.75 96.50 97.50 94.50 93.50 `

`

`

* * * * * * * * * * * * * * * * * * * *

99.00 * 94.30 *

96.75 * 92.00 *

89.00 * 86.30 * 87.38 *

83.95 *

98.50 99.00 94.30 99.00 99.00 99.00 91.50 98.25 98.25 91.50 94.75 97.75 92.75 92.75 92.75 92.50 86.25 98.50 99.00 99.00

* * * * * * * *

`

`

1

` 96.25 97.75 98.50 98.00 95.75 96.75 93.75 92.75

97.50 * 92.75 *

0

`

`

`

88.75 * 86.05 * 87.13 *

* * * * * * * * * * * * * * * * * * * *

98.25 * 93.55 *

* * * * * * * *

0 2014-038 02/26/14 $/BBL

`

97.00 98.50 99.25 98.75 96.50 97.50 94.50 93.50

97.25 * 92.50 * `

97.75 98.25 93.55 98.25 98.25 98.25 90.75 97.50 97.50 90.75 94.00 97.00 92.00 92.00 92.00 91.75 85.50 97.75 98.25 98.25

99.00 * 94.30 * `

96.75 98.25 99.00 98.50 96.25 97.25 94.25 93.25

98.00 * 93.25 *

* * * * * * * * * * * * * * * * * * * *

` 98.75 * 94.05 *

` 97.50 99.00 99.75 99.25 97.00 98.00 95.00 94.00

98.50 99.00 94.30 99.00 99.00 99.00 91.50 98.25 98.25 91.50 94.75 97.75 92.75 92.75 92.75 92.50 86.25 98.50 99.00 99.00

4 2014-037 02/25/14 $/BBL

79.69 * 64.58 * `

98.25 98.25 94.25 98.25 93.75 93.25 85.75 94.32 92.36

* * * * * * * * *

91.33 79.35 61.53 56.58

* * * *

`

99.00 99.00 95.00 99.00 94.50 94.00 86.50 95.04 93.06

* * * * * * * * *

92.08 80.10 62.28 57.33

* * * *

`

Please visit our Internet Web Site, www.plainsmarketing.com or www.paalp.com for price bulletin information.

Page 3 of 5

4

CRUDE OIL PRICE BULLETIN - RECAP FEBRUARY 2014 28

PLAINS MARKETING, L.P.

PLAINS MARKETING, L.P. 333 CLAY, SUITE 1600 P.O. BOX 4648 HOUSTON, TEXAS 77002

28 0

BULLETIN No: EFFECTIVE DATE: TEXAS West Texas Intermediate - Area #1................................................................ West Texas Intermediate - All Other Areas.................................................... West Texas Sour............................................................................................. West Central Texas......................................................................................... North Texas Sweet........................................................................................... North Texas (Cooke & Grayson) Sweet......................................................... North Texas (Cooke & Grayson) Sour........................................................... East Texas Field............................................................................................... East Texas (Other than E.. TX.. Field)............................................................ East Texas Sour............................................................................................... East Texas Light Sour...................................................................................... East Texas Condensate………………………………………………………… Texas Upper Gulf Coast.................................................................................. Texas Central Gulf Coast (Giddings)............................. ................................ South Texas Light (Sweet).............................................. ................................ South Texas Heavy......................................................... ................................ South Texas Sour............................................................................................. Texas Panhandle.............................................................................................. South Texas Sweet.......................................................................................... Eagle Ford Light............................................................................................... NEW MEXICO New Mexico Intermediate................................................................................ New Mexico Sour............................................................................................. LOUISIANA North Louisiana................................................................................................ Central Louisiana Sweet.................................................................................. North Louisiana Nacatoch............................................................................... Central Louisiana LCT..................................................................................... North Louisiana Condensate…………………………………………………… South Louisiana Light Sweet (Onshore)......................................................... South Louisiana Eugene Island (Onshore)..................................................... South Arkansas and North Louisiana Sour……………………………………

FEBRUARY 2014 MONTHLY AVERAGE:

Crude Grade

POSTED GRAVITY

2099 2045 2044 2090 2048 2071 2072 2003 2001 2067 2111 2127 2021 2065 2026 2054 2050 2120 2150 2152

WTI WTI WTS WTI NTR NTR WTS ETS ETS ETR ETR ETS TIC GID STL STH STS TXP STS EGF

40.0-44.9 40.0-44.9 34.0-44.9 40.0-44.9 40.0-44.9 40.0-44.9 40.0-44.9 Flat 40.0-44.9 34.0-44.9 34.0-44.9 40.0-44.9 40.0-44.9 40.0-44.9 40.0-44.9 29.0-44.9 34.0-44.9 40.0+ 40.0-44.9 50.1-60.0

96.9375 .................... 2100 92.2375 .................... 2101

WTI WTS

40.0-44.9 .................... 34.0-44.9 ....................

94.8839 96.4375 97.1875 96.6875 94.3839 95.4375 92.4375 91.4375

2037 2114 2118 2119 2128 2036 2066 2002

NLS NLS NLN LCT LCN LLS EIC ETR

40.0-44.9 40.0-44.9 Flat Flat 40.0-44.9 40.0-44.9 40.0-44.9 34.0-44.9

95.4375 .................... 2121 90.6875 .................... 2122

LMS MLS

40.0-50.0 .................... 34.0-44.9 ....................

7 4

87.0446 .................... 2078 84.2375 .................... 2075 85.3175 .................... 2077

RMS RMS RMS

40.0-44.9 .................... 40.0-44.9 .................... 40.0-44.9 ....................

12 2 3

82.1375 .................... 2087

RMS

40.0-44.9 ....................

3

93.4375 .................... 2104

ILB

30.0-44.9 ....................

11

93.4375 .................... 2105

ILB

30.0-44.9 ....................

11 2 2 2 2 2 2

96.4375 96.9375 92.2375 96.9375 96.9375 96.7768 89.4018 96.0446 96.0446 89.4018 92.6518 95.5446 90.6875 90.6875 90.6875 90.4375 84.1875 96.4375 96.9375 96.9375

Price Code S .................... .................... .................... .................... .................... .................... .................... .................... .................... .................... .................... .................... .................... .................... .................... .................... .................... .................... .................... ....................

.................... .................... .................... .................... .................... .................... .................... ....................

ADJ. SCALE .................... .................... .................... .................... .................... .................... .................... .................... .................... .................... .................... .................... .................... .................... .................... .................... .................... .................... .................... ....................

.................... .................... .................... .................... .................... .................... .................... ....................

1 1 4 1 1 2 3 Flat 1 4 4 1 1 1 1 5 4 15 16 16 1 4 1 1 Flat Flat 1 2 2 4

MISSISSIPPI Mississippi Light Sweet………………………………………………………… Mississippi Light Sour…………………………………………………………… COLORADO Colorado Southeastern.................................................................................... D-J Basin.......................................................................................................... Colorado Western............................................................................................

UTAH Black Wax......................................................................................................... ILLINOIS Illinois Sweet..................................................................................................... INDIANA Indiana Sweet................................................................................................... KANSAS Kansas Common.............................................................................................. Eastern Kansas Common................................................................................ Eastern Kansas Common Special………………………………………………

Northwestern Kansas Sweet........................................................... Southwestern Kansas Sweet........................................................... Central Kansas Sweet..................................................................................... NEBRASKA Nebraska Western........................................................................................... Nebraska Intermediate.................................................................................... NORTH DAKOTA Williston Basin Sweet....................................................................................... Williston Basin Sour......................................................................................... OKLAHOMA Domestic Sweet (Cushing).............................................................................. Oklahoma Sweet.............................................................................................. Oklahoma Sweet Special………………………………………………………… Oklahoma Sweet-Central................................................................................. Western Oklahoma ......................................................................................... Oklahoma Panhandle ...................................................................................... Oklahoma Sour................................................................................................. Oklahoma Condensate.................................................................................... Oklahoma Condensate Light........................................................................... WYOMING Wyoming Southwestern Area.......................................................................... Wyoming Sweet other Areas........................................................................... Wyoming General Sour.................................................................................... Wyoming Asphaltic Sour..................................................................................

87.9375 87.6875 83.1375 88.4911 88.9375 90.0375

.................... .................... .................... .................... .................... ....................

2089 2109 2117 2091 2092 2124

KSW KSW KSW KSW KSW KSW

40.0-44.9 40.0-44.9 40.0-44.9 40.0-44.9 40.0-44.9 40.0-44.9

.................... .................... .................... .................... .................... ....................

84.2375 .................... 2079 86.9375 .................... 2125

RMS NBS

40.0-44.9 .................... 40.0+ ....................

1 14

80.1989 .................... 2080 68.2318 .................... 2081

NDI NDI

40.0-44.9 .................... 40.0-44.9 ....................

1 6

96.9375 96.9375 92.9375 96.9375 92.4375 91.9375 84.4375 93.0600 91.1243

.................... .................... .................... .................... .................... .................... .................... .................... ....................

2110 2074 2115 2051 2112 2113 2126 2140 2141

OKA OKA OKA OKA OKA OKA OKA OKA OKA

40.0-44.9 40.0-44.9 40.0-44.9 40.0-44.9 40.0-44.9 40.0-44.9 40.0-44.9 Flat Flat

.................... .................... .................... .................... .................... .................... .................... .................... ....................

2 2 2 2 2 2 3 Flat Flat

90.0175 80.3232 63.0746 59.8389

.................... .................... .................... ....................

2082 2083 2084 2085

WYS WYS WYS WYS

40.0-44.9 40.0-44.9 40.0-44.9 40.0-44.9

.................... .................... .................... ....................

3 1 8 8

(1) The gravity adjustment scale and other terms are set forth on Page 5.

2/28/2014

Page 4 of 5

GRAVITY ADJUSTMENT SCALE 1.

Less $0.02 per barrel for each full degree API below 40.9°; less $0.015 per barrel for each 0.1 degree API above 44.9°.

2.

Less $0.02 per barrel for each full degree API below 40.9° to 35.0°, then less $0.015 per barrel for each 0.1 degree API below 35.0°; less $0.015 per barrel, for each 0.1 degree API above 44.9°.

3.

Less $0.015 per barrel for each 0.1 degree API below 40.0°; less $0.015 per barrel for each 0.1 degree API above 44.9°.

4.

Less $0.015 per barrel for each 0.1 degree API below 34.0°; less $0.015 per barrel for each 0.1 degree API above 44.9°.

5.

Less $0.02 per barrel for each full degree API below 29.9° to 19.9°; less $0.015 per barrel for each 0.1 degree API above 44.9°.

6.

Less $0.10 per barrel for each full degree API below 40.9°; less $0.015 per barrel for each 0.1 degree API above 44.9°.

7.

Less $0.02 per barrel for each full degree API below 40.9°; less $0.015 per barrel for each 0.1 degree API above 50.0°.

8

Less $0.02 per barrel for each full degree API below 40.9° to 36.9°, then less $0.04 per barrel for each full degree API from 36.9° to 34.0°, then less $0.02 per barrel for each 0.1 degree API below 34.0°, and less $0.015 per barrel for each 0.1 degree API above 44.9°.

9.

Less $0.015 per barrel for each 0.1 degree API below 27°.

10.

Less $0.02 per barrel for each full degree API below 40.9° to 35.0°, then less $0.015 per barrel for each 0.1 degree API below 35.0°; less $0.015 per barrel for each 0.1 degree API above 60.0°.

11.

Less $0.015 per barrel for each 0.1 degree API below 30.0°; less $0.015 per barrel for each 0.1 degree API above 44.9°.

12.

Less $0.02 per barrel for each full degree API below 40.9° to 19.0°; less $0.015 per barrel for each 0.1 degree API above 44.9°.

13.

Less $0.015 per 0.1 degree API below 40.0° to 35.0°; less $0.015 per barrel for each 0.1 degree API above 44.9°.

14.

Less $0.015 per barrel for each 0.1 degree API below 40.0°.

15.

Less $0.02 per barrel for each full degree API below 40.9°.

16.

Less $0.03 per barrel for each 0.1 API above 45.0°.

17.

Less $0.03 per barrel for each 0.1 API above 50.0°.

18.

Less $0.015 per barrel for each 0.1 degree API above 45.0°; then less $0.10 per barrel for each 0.1 degree API above 48.0°; then less $0.20 per barrel for each 0.1 degree API above 50.0°.

SELLER WARRANTS THAT THE CRUDE OIL AND CONDENSATE DELIVERED TO PLAINS MARKETING, L.P. SHALL BE OF MERCHANTABLE QUALITY AND FIT FOR NORMAL REFINERY PROCESSING. MERCHANTABLE CRUDE OIL AND CONDENSATE IS DEFINED AS VIRGIN CRUDE OIL AND/OR CONDENSATE PRODUCED FROM WELLS WHICH ARE FREE OF FOREIGN CONTAMINATION, WHETHER INJECTED OR OUTSIDE, AND FREE OF ADDED CHEMICALS CONTAINING, BY WAY OF ILLUSTRATION AND NOT OF LIMITATION, HALOGENATED ORGANIC COMPOUNDS AND/OR OXYGENATED COMPOUNDS. PLAINS MARKETING, L.P. MAY RETURN ANY CRUDE OIL OR CONDENSATE CONTAINING CONTAMINANTS IN WHICH EVENT SELLER AGREES TO ACCEPT RETURNED CRUDE OIL OR CONDENSATE, REIMBURSE PLAINS MARKETING, L.P. FOR ANY COSTS INCURRED, AND BE LIABLE FOR ALL DAMAGES, INCLUDING CONSEQUENTIAL DAMAGES AND LOSS OF PROFITS SUFFERED BY PLAINS MARKETING, L.P. AND/OR ITS CUSTOMERS. PLAINS MARKETING, L.P. RESERVES THE RIGHT TO REFUSE CRUDE OIL OR CONDENSATE HAVING A REID VAPOR PRESSURE OF 9 PSI OR ABOVE.

In the event government statutes, regulations, or rulings require adjustments in the prices paid, Plains Marketing, L.P. reserves the right to amend these postings. Recovery for excess payments may be made by either withholding an amount equal to the excess or by directly invoicing Seller. Individual transaction prices vary due to competitive conditions, distance and other differentials, and appropriate charges where applicable, such as, by way of illustration and not of limitation, adjustments to price where special protective equipment and/or a second driver/operator shall be necessary. Administrative costs associated with disbursements to multiple ownership interests may affect transactions. NOTES: West Texas Intermediate - Area #1 includes the following counties: Irion, Tom Green, Concho, McCulloch, Jeff Davis, Pecos, Crockett, Schleicher, Menard, Sutton, Kimble, Terrell, Brewster and Presidio. Oklahoma Sweet - Except Western and Panhandle.

Please visit our Internet Web Site, www.plainsmarketing.com or www.paalp.com for price bulletin information.

Page 5 of 5

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