Plains All American Pipeline (PAAPU) Operating Expenses (2009 - 2026)

Plains All American Pipeline (PAAPU) posted Operating Expenses of $301.0 million for Q1 2026, up 100.96% on a QoQ basis from -$31.5 billion in Q4 2025, and down 97.29% year-on-year from $11.1 billion in Q1 2025.

Plains All American Pipeline (PAAPU) Operating Expenses (2009 - 2026) Analysis & Trends

Plains All American Pipeline has disclosed Operating Expenses across 18 years of filings, most recently posting $301.0 million for Q1 2026.

  • Operating Expenses for Q1 2026 came in at $301.0 million, down 97.29% year-over-year; the trailing twelve-month figure through Mar 2026 was -$9.7 billion (up 8.34% YoY), and the FY2025 annual result was $1.2 billion, down 21.55% from the prior year.
  • Operating Expenses came in at $301.0 million for Q1 2026 at Plains All American Pipeline, up from -$31.5 billion in the prior quarter.
  • Over the last five years, Operating Expenses for PAAPU reached as high as $55.1 billion in Q4 2022 and fell as low as -$34.5 billion in Q4 2024.
  • Median Operating Expenses over the past 5 years was $358.0 million (2024), compared with a mean of $3.6 billion.
  • On a YoY basis, Operating Expenses climbed as much as 3631.23% in 2024 and fell as far as 150100.0% in 2024.
  • Over 5 years, Operating Expenses stood at $55.1 billion in 2022, then tumbled by 99.96% to $23.0 million in 2023, then sank by 150100.0% to -$34.5 billion in 2024, then advanced by 8.8% to -$31.5 billion in 2025, then jumped by 100.96% to $301.0 million in 2026.
  • Per Business Quant, the three latest PAAPU Operating Expenses figures stand at $301.0 million (Q1 2026), -$31.5 billion (Q4 2025), and $11.1 billion (Q3 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Enbridge 1,308.38 Bn 1,309.08 Bn 6.70 Bn 13.95 Bn
2 Kinder Morgan 112.34 Bn 113.42 Bn 3.08 Bn 3.38 Bn
3 Enterprise Products Partners 79.55 Bn 78.40 Bn - 12.50 Bn
4 Energy Transfer 65.78 Bn 65.07 Bn 6.62 Bn 1.70 Bn
5 Targa Resources 57.60 Bn 57.63 Bn 1.70 Bn 333.70 Mn
6 Mplx 57.17 Bn 55.67 Bn 2.54 Bn 1.82 Bn
7 Oneok 54.83 Bn 54.70 Bn 2.57 Bn 7.00 Mn
8 Cheniere Energy Partners 29.50 Bn 29.22 Bn 838.00 Mn 274.00 Mn
9 Venture Global 27.41 Bn 27.36 Bn 4.33 Bn 3.45 Bn
10 Plains All American Pipeline - - 977.00 Mn 301.00 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 301.00 Mn
Dec 31, 2025 -31.46 Bn
Sep 30, 2025 11.09 Bn
Jun 30, 2025 10.40 Bn
Mar 31, 2025 11.12 Bn
Dec 31, 2024 -34.50 Bn
Sep 30, 2024 408.00 Mn
Jun 30, 2024 12.43 Bn
Mar 31, 2024 358.00 Mn
Dec 31, 2023 23.00 Mn
Sep 30, 2023 11.84 Bn
Jun 30, 2023 333.00 Mn
Mar 31, 2023 357.00 Mn
Dec 31, 2022 55.08 Bn
Sep 30, 2022 318.00 Mn
Jun 30, 2022 307.00 Mn
Mar 31, 2022 13.40 Bn
Dec 31, 2021 40.48 Bn
Sep 30, 2021 10.81 Bn
Jun 30, 2021 10.17 Bn