Plains All American Pipeline Increases 2026 Growth Capital to $400–450M
PAA•Plains All American Pipeline raised its 2026 growth capital budget to $400–450 million net to PAA from roughly $350 million, while maintaining maintenance spending at about $185 million. The increase funds Permian long-haul, Canadian and Permian gathering projects, including Delaware Basin expansions expected to boost 2027 EBITDA.
1. 2026 Capital Spending Guidance
Plains All American Pipeline and Plains GP Holdings raised growth capital spending guidance for 2026 from approximately $350 million to a range of $400–450 million net to PAA, while maintaining maintenance capital at about $185 million net to PAA.
2. Targeted Growth Projects
The additional funding will support multiple Permian long-haul, Canadian gathering and Permian gathering projects, including infrastructure expansions in the New Mexico Delaware Basin to accommodate rising volumes.
3. Expected Financial Impact
These high-return projects are projected to strengthen the company’s EBITDA profile in 2027, leveraging its 1.2 million barrels per day crude oil purchase capacity and direct global export connectivity to enhance asset value and unitholder returns.
