ExpansionJun 15, 2026, 07:31 AM
Plains All American Raises 2026 Growth Capital to $400-$450M
AI Summary
Plains All American Pipeline, L.P. has updated its 2026 capital spending guidance, increasing growth capital from approximately $350 million to a range of $400 to $450 million net to PAA. This increase is driven by multiple high-return growth projects in its Permian long-haul, Canadian gathering, and Permian gathering businesses, including investments in the New Mexico Delaware Basin. Maintenance capital is expected to remain at $185 million, and these new projects are anticipated to enhance the company's EBITDA profile in 2027.
Key Highlights
- Plains All American increased 2026 growth capital spending guidance to $400-$450 million net to PAA.
- Previous 2026 growth capital spending guidance was approximately $350 million net to PAA.
- 2026 maintenance capital spending is expected to remain approximately $185 million net to PAA.
- New projects are across Permian long-haul, Canadian gathering, and Permian gathering businesses.
- Projects are expected to generate high returns and contribute to EBITDA in 2027.
- Company handles approximately 1.2 million barrels a day of crude oil purchases.
Price Impact
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