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Permian Basin Oil and Gas Magazine

PBOG is the Official Publication of the Permian Basin Petroleum Association and is published monthly by Zachry Publications, LP.

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Plains expects production in Permian to remain flat in 2020Q4 and 2021

November 12, 2020 by PBOG

Houston-based Plains All American Pipeline said last week estimated production in Permian Basin will remain flat through 2020Q4 and 2021 and also “warned that other basins could have extended declines,” according to Reuters. Jeremy Goebel, executive vice president, said Nov. 2, “What we’re seeing most producers do is … stabilizing now using drilled and uncompleted wells, and they’ll try to do that throughout next year.” Plains raised its 2020 earnings forecast about 3 percent, citing an improvement in its anticipated oil transportation segment volumes and earnings, after revenue declined by more than 25 percent in 2020Q3.

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