Houston-based Plains All American Pipeline said Feb. 8 it expects its assets in Permian Basin to benefit from continue production growth in 2023. Plains said it is experiencing higher utilization for long-haul systems for Cactus I and Cactus II pipelines in Texas. Increased volumes are also expected on the Wink-to-Webster line. Willie Chiang, chairman and CEO, said, “Looking to 2023, our Permian Basin assets are well-positioned to benefit from continued production growth.”
Plains expects crude oil production in Permian Basin to grow by as much as 500,000 barrels per day in 2023 with horizontal rig counts consistent with current levels. Plains transported an average of 8.094 million b/d in 2022Q4 – an increase of 12.39 percent from 7.202 million b/d in 2021Q4. Plains expects volumes to increase another 350,000 b/d in 2023.
