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AMERICAS OIL: Plains Sees Permian Crude Production Expanding Up to 300K Y/Y: BBG

AMERICAS OIL
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Plains Sees Permian Crude Production Expanding Up to 300K Y/Y: BBG

  • Plains forecasts Permian crude production to grow by 200K to 300k b/d y/y, Chief Executive Officer Willie Chiang says during fourth-quarter earnings call.
  • He expects overall basin volumes to rise to ~6.7M b/d by YE 2025.
  • Growth in crude oil segment primarily “driven by contributions from bolt-on acquisitions, volume growth and pipeline tariff escalation.”
  • The Fort Saskatchewan expansion project is set to come online in 2Q 2025.
  • The company is also investing in the Mid-Con to offload crude from the Uinta Wax Basin.
  • Plains has been “scenario planning” for tariffs.
  • If North American flows are disrupted, the company could “swing and bring volumes from the Permian ultimately into Cushing, pushing into the Mid-Continent north,” Chiang said.
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Plains Sees Permian Crude Production Expanding Up to 300K Y/Y: BBG

  • Plains forecasts Permian crude production to grow by 200K to 300k b/d y/y, Chief Executive Officer Willie Chiang says during fourth-quarter earnings call.
  • He expects overall basin volumes to rise to ~6.7M b/d by YE 2025.
  • Growth in crude oil segment primarily “driven by contributions from bolt-on acquisitions, volume growth and pipeline tariff escalation.”
  • The Fort Saskatchewan expansion project is set to come online in 2Q 2025.
  • The company is also investing in the Mid-Con to offload crude from the Uinta Wax Basin.
  • Plains has been “scenario planning” for tariffs.
  • If North American flows are disrupted, the company could “swing and bring volumes from the Permian ultimately into Cushing, pushing into the Mid-Continent north,” Chiang said.