Houston-based Plains All American Pipeline said recently it expects to increase its Permian Basin gathering tariff volumes by about 275,000 barrels per day to 2.92 million b/d during 2024. And Plains forecast total Permian crude production to increase by 200,000-to-300,000 b/d from yearend 2023 to yearend 2024.
The pipeline and storage operator said Feb. 9 oil production from Permian will rise to a record 6.4 million b/d from 6.1 million b/d at yearend 2023. Growth will come primarily from Delaware Basin, according to Willie Chiang, CEO, and assumes an average rig count of 300-to-320 rigs.