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This statistic highlights Plains All American’s Revenue by Segment, split across Supply and logistics, Transportation and Facilities, reported on a quarterly basis.
|Segment||Q3 2020||Q2 2021||Q3 2021||Contribution in Q3 2021|
|Supply and logistics||$ 5,537||$9,623||$10,515||93%|
(All figures are in millions, except percentages)
The company’s total revenue increased from $6,302 million in Q3 2020 to $11,270 million in Q3 2021, marking an excellent 78.83% growth on a year-on-year basis. It increased by 13.45% as compared to $9,930 million in Q2 2021.
Plains All American’s revenue is further bifurcated into the following segments:
Supply and logistics
Sales of gathered and bulk-purchased crude oil, as well as sales of Natural Gas Liquids (NGL) quantities, are included in the Supply and Logistics segment’s revenues. In general;
(i) increase or decrease in the Supply and Logistics segment volumes (which include lease gathering, crude oil purchases, and NGL sales volumes).
(ii) overall market strength, weakness, and volatility, including regional differentials.
(iii) the relationship between the prices of NGLs and natural gas.
(iv) the effects of competition on lease gathering and NGL margins, have an impact on segment results. Furthermore, in some markets, the implementation of their risk management tactics in conjunction with their assets might yield upside.
The supply, logistics, and distribution of crude oil and natural gas liquids are unaffected by price fluctuations. Revenues and costs connected to purchases will fluctuate with market prices since the commodities they buy and sell are often tied to the same pricing indices for both sales and purchases. Weather-related demand affects NGL operations, especially during the roughly five-month peak heating season from November to March.
The major component, about 93% of the company’s total revenue, was made up of Supply and logistics. Plains All American’s revenue owing to the Supply and logistics segment increased from $5,537 million in Q3 2020 to $10,515 million in Q3 2021, indicating a rise of almost 90% on a year-on-year basis.
Fee-based activities related to moving crude oil and NGL on pipelines, gathering systems, and trucks make up the transportation segment’s operations. Tariffs and other costs on their pipeline systems vary depending on the point of reception and delivery. The Transportation segment’s results are dependent on the quantities moved on the pipeline, the tariff and other fees charged, as well as the fixed and variable field costs of operating the pipeline.
Plains All American’s revenue from the transportation segment climbed from $494 million in Q3 2020 to $529 million in Q3 2021, marking an increase of 7.08% on a year-on-year basis.
Fee-based activities connected with providing storage, terminalling, and throughput services principally for crude oil and NGL, as well as NGL fractionation and isomerization services and natural gas and condensate processing services, make up the Facilities segment’s operations. The Facilities division earns money through a mix of month-to-month and multi-year contracts.
Reduced NGL capacity utilization and market pricing, as well as the impact of asset sales, had a negative impact on the Facilities section. These negative results were somewhat offset by positive Transportation segment earnings, which benefited from shortfall payments linked with minimum volume agreements and decreased operating expenses.
Facilities segment revenue, amounting to $271 million in Q3 2020 decreased to $226 million in Q3 2021 by 16.60% on a year-on-year basis. It grew by 55.86% compared to $145 million earned in Q2 2020.
About the company
Plains Resources, a modest oil and gas exploration, and production firm were founded in 1981. The company went public in 1998 through an initial public offering (IPO). Plains is a publicly-traded, master-limited partnership that owns and manages midstream energy infrastructure and provides services in crude oil, natural gas liquids (NGL), and natural gas logistics.
In key crude oil and NGL producing basins and transportation corridors, as well as a major market hub in the United States and Canada, they own an extensive network of pipeline transportation, terminalling, storage, and gathering assets. PAA’s Transportation segment handles more than 6 million barrels of crude oil and NGL per day on an average. The company’s headquarters are in Houston, Texas, and its Canadian operations are headquartered in Calgary, Alberta.
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