Plains Flags Permian Slowdown

摘要

Midstream firm Plains All American said it anticipates production growth in the Permian Basin to slow in 2020. Speaking to analysts and investors during a call to discuss third-quarter earnings on Tuesday, Plains’ executive team said upstream players were becoming more disciplined with their capital as prices remain under pressure. That informs Plains’ forecast for incremental Permian Basin output of some 500,000 b/d in 2020 versus 2019 on average, “which is a little lower than we expected before,” noted CEO Willie Chiang.