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Plains All American Pipeline, L.P. PAA Crude Oil — Field operating costs

Other segment segments

NGL
$10M+25.0%

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Other financials

Income statement

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Revenue$12.5B+8.7%
Gross profit$977.0M+1.8%
Operating income$405.0M+13.8%
Net income$152.0M-65.7%

Balance sheet

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Cash & equivalents$171.0M-60.0%
Total debt$12.0B+26.8%
Total equity$12.8B-0.3%
Total assets$31.6B+16.9%

Cash flow

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Operating cash flow$418.0M-34.6%
CapEx$130.0M-7.1%
Free cash flow$288.0M-42.3%

Valuation

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Market cap$17.14B+31.1%
Enterprise value$28.96B+31.9%
P/E15×+0.6×
P/S0.4×+0.1×

Profitability

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Gross margin8.5%+0.8pp
Operating margin3.3%+1.5pp
Net margin2.5%+0.6pp
FCF margin4.6%-0.1pp

Returns & leverage

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Return on equity8.9%+1.8pp
Debt / equity0.9×+0.2×
Current ratio0.9×-0.1×

Where this comes from

Reported directly by Plains All American Pipeline, L.P. in its filing.

Tagged under the XBRL concept us-gaap:OperatingCostsAndExpenses.

The official record: Plains All American Pipeline, L.P.’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Plains All American Pipeline, L.P.'s crude oil — field operating costs?
Plains All American Pipeline, L.P. (PAA) reported crude oil — field operating costs of $291M in Q1 2026.
How has Plains All American Pipeline, L.P.'s crude oil — field operating costs changed year-over-year?
Plains All American Pipeline, L.P.'s crude oil — field operating costs decreased by 0.3% year-over-year, from $292M to $291M.
What is the long-term trend for Plains All American Pipeline, L.P.'s crude oil — field operating costs?
Over 3 years (2022 to 2025), Plains All American Pipeline, L.P.'s crude oil — field operating costs has grown at a 3.9% compound annual growth rate (CAGR), from $1B to $1.13B.
What does crude oil — field operating costs mean?
This metric encompasses the direct operational expenses required to maintain and run the physical assets within the crude oil segment, such as pipelines, terminals, and storage facilities. It includes labor, maintenance, utilities, and field-level overhead necessary for daily operations.