How to cut a small section of video out or a much larger clip using After Effects OR Premiere Pro.

Hi, I use Adobe Creative Cloud 2018, so I have access to both After Effects and Premiere Pro. My question is that I would like to cut a small 20 second clip out of a much longer video. Much like cropping a photo, but I don't want to keep the drop-offs.

So, say I have a 3 minute long video and I want to make a shorter video that is 20 second long, located right in the middle of the longer video. - Is there a way in AE or PPro to shorten that video to my 20 second clip requirements.

Lets say my starting point is a 1:13:00 and it extends to 1:33:00 -- (20 seconds).  

I know I can shorten the working area, but the clip itself isn't really shortened. It remains the same size as the original. - I want to resize it into a new video - 20 second long.

Thanks,
Fulano