Potential to Add Up to 110,000 Barrels Per Day of Delaware Basin Pipeline Takeaway Capacity
HOUSTON–(BUSINESS WIRE)–A subsidiary of Plains All American Pipeline, L.P. (NYSE: PAA) today announced that it is conducting an open season for committed crude oil pipeline capacity from the Delaware Basin to Cushing, OK (the “Pipeline”). The Pipeline will originate at Conan Station in Loving County, Texas. Depending on the results of the open season, committed volumes will move on a combination of new and existing pipelines. The open season provides an opportunity for potential shippers to offer long-term volume commitments in exchange for firm transportation on the Pipeline.
The Pipeline will deliver to Plains’ and third party terminals in Cushing, OK. Subject to sufficient commitments from shippers and receipt of any necessary permits and regulatory approvals, the Pipeline could be operational in mid-2019.
By submitting a binding proposal, bidders are offering to enter into a long-term throughput and deficiency agreement for pipeline capacity. Interested parties should contact Kevin Snodgrass at KTSnodgrass@paalp.com. Potential shippers must sign confidentiality agreements before receiving the open season documents. The open season begins on June 16, 2017 and will end at 5 p.m. CT on July 17, 2017.
Forward Looking Statements
This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. An extensive list of factors that can affect future results are discussed in PAA’s Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. PAA undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.
Plains All American Pipeline, L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (“NGL”), natural gas and refined products. PAA owns an extensive network of pipeline transportation, terminalling, storage and gathering assets in key crude oil and NGL producing basins and transportation corridors and at major market hubs in the United States and Canada. On average, PAA handles over 4.7 million barrels per day of crude oil and NGL in its Transportation segment. PAA is headquartered in Houston, Texas. More information is available at www.plainsallamerican.com.