TULSA, Okla., Aug. 29, 2019 /PRNewswire/ -- Saddlehorn
Pipeline Company, LLC ("Saddlehorn") announced today a further
expansion of the Saddlehorn pipeline. Following a successful open
season during July and subsequent increased volume commitments from
shippers, the pipeline's capacity will be increased by a total of
100,000 barrels per day ("bpd") to a new total capacity of
approximately 290,000 bpd. The higher capacity is expected to be
available in late 2020 following the addition of incremental
pumping and storage capabilities.
The Saddlehorn pipeline, which is jointly owned by affiliates of
Magellan Midstream Partners, L.P. (NYSE: MMP) ("Magellan"), Plains
All American Pipeline, L.P. (NYSE: PAA) ("Plains") and Western
Midstream Partners, LP (NYSE: WES) ("WES"), is currently capable of
transporting 190,000 bpd of crude oil and condensate from the DJ
and Powder River Basins to storage facilities in Cushing, Oklahoma owned by Magellan and
Plains. Magellan serves as operator of the Saddlehorn pipeline.
In conjunction with the increased volume commitments, Noble
Midstream Partners LP (NYSE: NBLX) ("NBLX"), through its affiliate
Black Diamond Gathering LLC, has an option to buy up to a 20%
ownership interest in Saddlehorn, with Magellan and Plains each
selling up to a 10% interest to NBLX if the option were
exercised.
About Magellan Midstream Partners, L.P.
Magellan
Midstream Partners, L.P. (NYSE: MMP) is a publicly traded
partnership that primarily transports, stores and distributes
refined petroleum products and crude oil. Magellan owns the longest
refined petroleum products pipeline system in the country, with
access to nearly 50% of the nation's refining capacity, and can
store more than 100 million barrels of petroleum products such as
gasoline, diesel fuel and crude oil. More information is available
at www.magellanlp.com.
About Plains All American Pipeline, L.P.
Plains All American Pipeline, L.P. (NYSE: PAA) 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") and natural gas. Plains 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, Plains handles more than 6
million barrels per day of crude oil and NGL in its Transportation
segment. Plains is headquartered in Houston, Texas. More information is available
at www.plainsallamerican.com.
About Western Midstream Partners, LP
Western Midstream Partners, LP (NYSE: WES) is a Delaware master limited partnership formed to
acquire, own, develop and operate midstream assets. With midstream
assets located in the Rocky Mountains, North-central Pennsylvania, Texas and New
Mexico, WES is engaged in the business of gathering,
compressing, treating, processing and transporting natural gas;
gathering, stabilizing and transporting condensate, NGLs and crude
oil; and gathering and disposing of produced water for its
customers. In addition, in its capacity as a processor of natural
gas, WES also buys and sells natural gas, NGLs and condensate on
behalf of itself and as agent for its customers under certain of
its contracts. More information is available at
www.westernmidstream.com.
This press release includes 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 could cause actual results or outcomes to differ
materially from results or outcomes anticipated in the
forward-looking statements. Important risks, uncertainties and
other factors that could affect future results or outcomes are
discussed in filings with the Securities and Exchange Commission by
Magellan, Plains and WES. The companies undertake no obligation to
update or revise any forward-looking statement to reflect new
information or events occurring after today's date.
Contact Information:
Magellan:
|
Paula Farrell,
Investor Relations
Bruce Heine, Media
Relations
|
(918)
574-7650
(918)
574-7010
|
paula.farrell@magellanlp.com
bruce.heine@magellanlp.com
|
Plains:
|
Roy Lamoreaux,
Investor Relations
Brad Leone, Media
Relations
|
(866)
809-1291
(866)
809-1290
|
|
WES:
|
Jack Spinks, Investor
Relations
|
(832)
636-6000
|
jack_spinks@oxy.com
|
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SOURCE Magellan Midstream Partners, L.P.