Plains All American Pipeline (PAA) raised its 2026 growth capital expenditure guidance on Monday. The company cited an improved macroeconomic outlook for oil and increased customer activity for the revision.
New guidance for growth projects now ranges between $400 million and $450 million. This marks an increase from the previous forecast of approximately $350 million.
The additional funds will support high-return projects in the Permian Basin and Canada. These investments are expected to contribute to the company's EBITDA beginning in 2027.
Maintenance capital guidance for 2026 remains unchanged at approximately $185 million.