SemGroup and DCP Midstream Extend Open Season for Light Crude Transportation Solution from Cushing to Gulf Coast Markets
January 31 2019 - 4:05PM
SemGroup® Corporation (NYSE:SEMG) and DCP Midstream, LP (NYSE:DCP)
today announced that, due to ongoing shipper interest, they have
extended by one month the open season to solicit binding
commitments for the development of a new pipeline system to
transport segregated, light batches of crude oil originating in
Cushing, Okla. and terminating in Houston, Texas. All potential
shippers must submit binding commitments by 5 p.m. Central Time on
February 28, 2019.
The proposed Gladiator Pipeline would originate at SemGroup’s
Cushing terminal and provide crude oil service to Gulf Coast
markets. The Cushing origin would provide potential shippers the
connectivity to source barrels from key pipelines that converge in
Cushing, including the White Cliffs Pipeline, which serves
Colorado’s DJ Basin.
At the pipeline’s destination, potential shippers would have
many options for connecting barrels to a variety of demand centers,
including refineries in the Houston area or to crude oil storage
and export facilities, such as SemGroup’s HFOTCO Terminal. If
sufficient commitments are obtained, subject to the receipt of all
of the necessary approvals, permits and force majeure, the proposed
Gladiator Pipeline is anticipated to be operational by the third
quarter of 2020, following the potential construction of new NGL
capacity by DCP.
Prospective shippers should contact Grant Najera, Director of
Commercial - Pipelines for SemGroup, at 918-524-8525 or
gnajera@semgroup.com, and Nick Dark, Commercial Asset Manager for
SemGroup at 918-524-7311 or ndark@semgroup.com. At DCP Midstream,
potential shippers should contact Brittany Wright, Business
Development Manager, at 713-735-3657 or
bwright@dcpmidstream.com.
Click here for a map of the proposed Gladiator Pipeline and its
interconnectivity.
About SemGroup SemGroup® Corporation
(NYSE:SEMG) moves energy across North America through a network of
pipelines, processing plants, refinery-connected storage facilities
and deep-water marine terminals with import and export
capabilities. SemGroup serves as a versatile connection between
upstream oil and gas producers and downstream refiners and end
users. Key areas of operation and growth include western Canada,
the Mid-Continent and the Gulf Coast. SemGroup is committed to
safe, environmentally sound operations. Headquartered in Tulsa,
Okla., the company has additional offices in Calgary, Alberta;
Denver, Colo.; and Houston, Texas.
SemGroup uses its Investor Relations website and social media
outlets as channels of distribution of material company
information. Such information is routinely posted and accessible on
our Investor Relations website at www.semgroup.com, our Twitter
account and LinkedIn account.
About DCP Midstream, LPDCP Midstream, LP (NYSE:
DCP) is a Fortune 500 midstream master limited partnership
headquartered in Denver, Colorado, with a diversified portfolio of
gathering, processing, logistics and marketing assets. DCP is one
of the largest natural gas liquids producers and marketers and one
of the largest natural gas processors in the U.S. The owner of
DCP’s general partner is a joint venture between Enbridge and
Phillips 66. For more information, visit the DCP Midstream, LP
website at www.dcpmidstream.com.
Forward-Looking StatementsCertain matters
contained in this Press Release include “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. We make these forward-looking statements in
reliance on the safe harbor protections provided under the Private
Securities Litigation Reform Act of 1995.
All statements, other than statements of historical fact,
included in this Press Release may constitute forward-looking
statements. Although we believe that the expectations reflected in
these forward-looking statements are reasonable, we cannot assure
you that these expectations will prove to be correct. These
forward-looking statements are subject to certain known and unknown
risks and uncertainties, as well as assumptions that could cause
actual results to differ materially from those reflected in these
forward-looking statements. Factors that might cause actual results
to differ include the risk factors discussed from time to time in
each of our documents and reports filed with the SEC.
Readers are cautioned not to place undue reliance on any
forward-looking statements contained in this Press Release, which
reflect management’s opinions only as of the date hereof. Except as
required by law, we undertake no obligation to revise or publicly
release the results of any revision to any forward-looking
statements.
SemGroup Investor Relations:Kevin
Greenwell918-524-8081investor.relations@semgroupcorp.com
SemGroup Media:Tom Droege918-524-8560tdroege@semgroup.com
DCP Midstream Investor Relations:Irene
Lofland303-605-1822ilofland@dcpmidstream.com
DCP Midstream Media:Sarah Sandberg303-605-1626
scsandberg@dcpmidstream.com
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