Houston-based Plains All American Pipeline is increasing its 2026 growth capital spending to $400 million to $450 million from $350 million. Maintenance capital is expected to remain at about $185 million. In its announcement June 15, Plains said, “The increased budget is underpinned by multiple growth projects across our Permian long-haul, Canadian gathering and Permian gathering businesses. We also anticipate investing in our broader Permian system to accommodate additional gathering volumes, particularly in the New Mexico Delaware Basin area.”
Willie Chiang, chairman, CEO and president, said, “The oil macro environment has improved significantly since the beginning of the year, and customer activity and interest has allowed us to advance several high return projects… The macro backdrop should result in an uplift in the value of energy infrastructure assets….”
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