Plains All American Pipeline LP said Monday it has nearly completed building about 145 miles of oil pipelines in West Texas, a $135 million project.
The company said the work would increase capacity by 200,000 barrels per day from oil fields in nine counties. Some of the work is complete and in service while other sections are expected to be finished by year end.
Plains owns and operates about 3,500 miles of pipeline plus storage capacity.
The company’s shares rose 72 cents to $86.91 in morning trading. Its shares rose to a 52-week high of $88 on July 31.