Plains All American Pipeline Announces Open Season for Delaware Basin to Cushing Pipeline
June 16 2017 - 9:00AM
Business Wire
Potential to Add Up to 110,000 Barrels Per Day
of Delaware Basin Pipeline Takeaway Capacity
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170616005355/en/
Plains All AmericanInvestors:Brett Magill, (866)
809-1291Manager, Investor Relations
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