Houston-based Plains All American Pipeline LP (NYSE: PAA) has raised its projected spending for 2017 by $100 million.
The company said in its second-quarter earnings results that it now expects to spend $900 million on growth projects in 2017.
That’s partly to pay $50 million for a newly announced joint-venture pipeline expansion Plains is working on with Houston’s Phillips 66 (NYSE: P66) in Oklahoma, said Willie Chiang, Plains’ chief operating officer.
That project will expand the STACK Pipeline…
Houston midstream giant raises spending plans by $100M syndicated post