PACIFIC ENERGY PARTNERS LP 4

4 · PACIFIC ENERGY PARTNERS LP · Filed Jun 16, 2006

Form 4

Period: 2005-08-12

DirectorOther

Transactions

Conversion
Common Units Representing Limited Partner Interests
2005-08-12+786,705→ 786,705 total(indirect: See Remark (1) Below)
Conversion
Subordinated Units Representing Limited Partner Interests
2005-08-12+786,705→ 0 total(indirect: See Remark (1), below)
→ Common Units Representing Limited Partner Interests (786,705 underlying)

Footnotes (5)

[F1]These Common Units were converted from Subordinated Units of the Issuer following the distribution of available cash to partners in respect of the quarter ending on June 30, 2005.
[F2]The number of Common Units and Subordinated Units shown as converted is based on applying the proportionate interest of the First Reserve Entities (as defined in Remark (1)) in LB Pacific LP, held both directly and indirectly through LB Pacific GP, LLC, to the respective number of such Common Units and Subordinated Units held by LB Pacific LP. Specifically, the number of converted Units reported herein consists of approximately 785,917 Units representing First Reserve Pacific Holdings AIV, L.P.'s direct 30.04% interest in LB Pacific, LP; and approximately 788 Units representing First Reserve Pacific Holdings AIV, L.P.'s indirect interest in LB Pacific LP through its 30.07% interest in LB Pacific GP, LLC.
[F3]1-for-1.
[F4]These Subordinated Units were converted to Common Units of the Issuer following the distribution of available cash to partners in respect of the quarter ending on June 30, 2005.
[F5]None.

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