Plains All American’s Oil Pipeline Volumes Rise 16% From Permian Basin Growth
HOUSTON, May 5 (Reuters) - Plains All American Pipeline said its quarterly crude oil pipeline volumes rose nearly 16% on the back of production growth in the top US shale basin.

The pipeline and storage company is the latest company to benefit from oil production from the Permian Basin, spread across Texas and New Mexico, and said it does not see any material change in expectations to its Permian production estimates amid worries of a slowdown in growth.
The company, which reaffirmed guidance for full-year adjusted earnings before interest, tax, depreciation and amortization of $2.45-$2.55 billion, said volumes on its Permian pipeline grew 20% to average 6.3 million barrels per day MM(bpd).
Overall crude volumes grew to 8.3 MMbpd in the three months to March 31, from 7.2 MMbpd a year earlier.
Net income, excluding items, rose 29% to $344 million, or 41 cents per share.
Rival Enterprise Products Partners' posted higher net income and crude oil pipeline volumes earlier this week helped by Permian production.
Related News
Related News

- Enbridge Plans 86-Mile Pipeline Expansion, Bringing 850 Workers to Northern B.C.
- Intensity, Rainbow Energy to Build 344-Mile Gas Pipeline Across North Dakota
- U.S. Moves to Block Enterprise Products’ Exports to China Over Security Risk
- Strike Pioneers First-of-Its-Kind Pipe-in-Pipe Installation on Gulf Coast with Enbridge
- 208-Mile Mississippi-to-Alabama Gas Pipeline Moves Into FERC Review
- U.S. Pipeline Expansion to Add 99 Bcf/d, Mostly for LNG Export, Report Finds
- A Systematic Approach To Ensuring Pipeline Integrity
- 275-Mile Texas-to-Oklahoma Gas Pipeline Enters Open Season
- LNG Canada Start-Up Fails to Lift Gas Prices Amid Supply Glut
- Kinder Morgan Gas Volumes Climb as Power, LNG Demand Boost Pipeline Business
Comments