Temporary pipeline conversion to oil to 'come close' to solving Permian woes [Seeking Alpha]
Plains All American Pipeline, L.P. - Common Units representing Limited Partner Interests (PAA)
Last plains all american pipeline, l.p. - common units representing limited partner interests earnings: 2/4 04:16 pm
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US:NYSE Investor Relations:
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Source: Seeking Alpha
EPIC Midstream's plan to temporarily convert its natural gas pipeline to carry crude oil may not totally cure pipeline bottlenecks in the Permian Basin but “ it will come close ,” says RBC Capital analyst Brad Heffern, adding that the start of Plains All American Pipeline's (NYSE: PAA ) Cactus II conduit, expected in Q3 2019, “should fully solve things.” EPIC says oil service on the third and final phase of its pipeline also should start in Q3 2019, which would offer interim relief to Permian producers, which faces a dearth of pipeline capacity until late 2019, when new projects are expected to enter service. Relief for Permian producers should narrow the gap between the U.S. WTI benchmark and the Brent global benchmark, says Cowen's Jason Gabelman; a barrel of WTI currently runs ~$10/bbl cheaper than Brent. Still, Piper Jaffray analysts say the timing of the conversion and subsequent crude pipeline is “modestly negative” compared with market hopes of a conversion
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News
- Plains All American Pipeline, L.P. (NYSE: PAA) had its price target raised by analysts at Citigroup Inc. from $17.50 to $18.00. They now have a "neutral" rating on the stock.MarketBeat
- Plains All American Pipeline, L.P. (NYSE: PAA) had its price target raised by analysts at TD Securities from $17.00 to $18.00. They now have a "hold" rating on the stock.MarketBeat
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- Plains All American Reports First-Quarter 2024 ResultsGlobeNewswire
PAA
Earnings
- 5/3/24 - Beat
PAA
Sec Filings
- 5/3/24 - Form 8-K
- 4/12/24 - Form ARS
- 4/12/24 - Form DEF
- PAA's page on the SEC website