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Plains All American Increases Capex for Permian Project


Industry Segment: Pipelines | Word Count: 557 Words

SUGAR LAND--August 9, 2017--Researched by Industrial Info Resources (Sugar Land, Texas)--Pipeline operator Plains All American Pipeline LP (NYSE:PAA) (Houston, Texas) announced that it will be increasing capital spending in 2017. In the company's earnings conference call, Plains All American Chief Executive Officer Greg Armstrong said, "We continue to progress our capital projects, which remain on time and on budget, and relative to last quarter, we increased our estimated 2017 expansion capital costs by approximately 5%, which was principally associated with the addition of our new Permian-to-Cushing takeaway and related Delaware Basin expansion." The company increased 2017 capital expenditures to $950 million. Industrial Info is tracking $1.7 billion in active Plains All American projects.

Within this article: Details of major Plains All American projects

Other companies featured: Valero Energy Corporation (NYSE:VLO)

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