Phillips 66 and Enbridge Announce Open Season for West Texas Crude Oil Pipeline System
December 11 2017 - 9:00AM
Business Wire
Phillips 66 (NYSE: PSX) and Enbridge Inc. (NYSE: ENB) today
announced an open season for the Gray Oak Pipeline. The Gray Oak
Pipeline will provide producers and other shippers the opportunity
to secure crude oil transportation from West Texas to the
destination markets of Corpus Christi, Freeport, and Houston,
Texas, with connectivity to over 3 million barrels per day (BPD) of
refining capacity and multiple dock facilities capable of crude oil
exports. Shippers will have the option to select from origination
stations in Reeves, Loving, Winkler, and Crane counties in West
Texas.
The Gray Oak Pipeline is expected to have an initial throughput
capacity of 385,000 BPD. Phillips 66 and Enbridge will evaluate
expansion of the system beyond 385,000 BPD, depending on shipper
interest in the open season. The pipeline system is anticipated to
be placed in service in the second half of 2019.
The open season will commence at 12 p.m. CST on Dec. 11, 2017.
Prior to participating in the open season, interested parties must
execute a confidentiality agreement to govern the receipt of the
open season documentation. For a form of confidentiality agreement
and additional information regarding the Gray Oak Pipeline, please
contact Corey Leonard at Corey.Leonard@p66.com or Jarrod Tessier at
Jarrod.Tessier@enbridge.com.
About Phillips 66
Phillips 66 is a diversified energy manufacturing and logistics
company. With a portfolio of Midstream, Chemicals, Refining, and
Marketing and Specialties businesses, the company processes,
transports, stores and markets fuels and products globally.
Phillips 66 Partners, the company's master limited partnership, is
an integral asset in the portfolio. Headquartered in Houston, the
company has 14,600 employees committed to safety and operating
excellence. Phillips 66 had $53 billion of assets as of Sept. 30,
2017. For more information, visit www.phillips66.com or follow us
on Twitter @Phillips66Co.
About Enbridge Inc.
Enbridge Inc. is North America's premier energy infrastructure
company with strategic business platforms that include an extensive
network of crude oil, liquids and natural gas pipelines, regulated
natural gas distribution utilities and renewable power generation.
The company safely delivers an average of 2.8 million barrels of
crude oil each day through its Mainline and Express Pipeline;
accounts for approximately 65% of U.S.-bound Canadian crude oil
exports; and moves approximately 20% of all natural gas consumed in
the U.S., serving key supply basins and demand markets. The
company's regulated utilities serve approximately 3.6 million
retail customers in Ontario, Quebec, New Brunswick and New York
State. Enbridge also has a growing involvement in electricity
infrastructure with interests in more than 2,500 MW of net
renewable generating capacity in North America and Europe. The
company has ranked on the Global 100 Most Sustainable Corporations
index for the past eight years; its common shares trade on the
Toronto and New York stock exchanges under the symbol ENB. Life
takes energy and Enbridge exists to fuel people's quality of life.
For more information, visit www.enbridge.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20171211005592/en/
Phillips 66Jeff Dietert,
832-765-2297(investors)jeff.dietert@p66.comorRosy Zuklic,
832-765-2297(investors)rosy.zuklic@p66.comorDennis Nuss,
832-765-1850(media)dennis.h.nuss@p66.comorEnbridgeJonathan Gould, 800-481-2804 (Toll
Free)(investors)jonathan.gould@enbridge.comorMichael Barnes,
888-992-0997 (Toll free)(media)michael.barnes@enbridge.com
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