Houston midstream giant raises spending plans by $100M

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

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s