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Plains All American Expecting 650-700 Mbbl/d in Exit-to-Exit Growth from Permian in 2022; Seeing Momentum for 2023 8/7/2022

Plains All American reported in its 2Q22 earnings that they expected Permian Basin crude oil production to rise 650-700 Mbbl/d between YE21 and YE22.  Currently, they are forecasting 2022 Permian output of 5.3 MMbbl/d, and PAA quoted third party estimates for exit-to-exit growth between 500-1,000 Mbbl/d. They did add that "activity is currently trending 10% above expectations," which will have minimal impact this year, but add momentum for 2023.  

Lastly, PAA is planning for "additional ramps in activity to continue, but expect the pace to be moderated by supply chain, manpower & equipment limitations.” Long term, PAA is guiding for the Permian Basin to reach >7 MMbbl/d in 2025.

DT Midstream Makes Positive FID on LEAP Phase 2 Expansion to Grow System by 0.4 Bcf/d 8/3/2022

DT Midstream has made a positive final investment decision on the 0.4 Bcf/d LEAP Phase 2 capacity expansion, which will lift the capacity of the asset to 1.7 Bcfe/d by early 2024.  This tacks on the already approved Phase 1 expansion that is adding 0.3 Bcfe/d in capacity and commercial discussions are underway for a Phase 3 expansion. 

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