Plains All American Updates 2026 Capital Spending Guidance to $450 Million
Plains All American (PAA) and Plains GP Holdings (PAGP) are providing an update to capital spending guidance for 2026. Plains expects growth capital spending to increase from approximately $350M to a range of $400M to $450M net to PAA in 2026. Maintenance capital is expected to remain approximately $185M net to PAA this year. "The oil macro environment has improved significantly since the beginning of the year, and customer activity and interest has allowed us to advance several high return projects. We believe tightened global crude oil supply and demand balances have increased demand for North American hydrocarbons. Our company is uniquely positioned to facilitate this growth with approximately 1.2 million barrels a day of crude oil purchases and direct connectivity to global export markets. The macro backdrop should result in an uplift in the value of energy infrastructure assets and support our continued commitment to increase return of capital to unitholders," said Willie Chiang, chairman, CEO and president.
