SemGroup and DCP Midstream Announce Open Season on Existing Capacity of NGL Pipeline Connecting DJ Basin to Mont Belvieu
May 24 2018 - 7:00AM
SemGroup® Corporation (NYSE:SEMG) and DCP Midstream, LP (NYSE:DCP)
today announced a binding open season for natural gas liquids (NGL)
transportation service on the White Cliffs Pipeline and Southern
Hills Pipeline, which will connect Weld County, Colorado to Mont
Belvieu, Texas. The project is expected to be in service in the
fourth quarter of 2019 and will provide DJ Basin customers with
increased NGL takeaway capacity and open access to the Texas Gulf
Coast markets.
SemGroup recently announced it is converting a portion of the
White Cliffs Pipeline system to NGL Y-grade service connecting the
DJ Basin to Cushing, Oklahoma. To complete the project, DCP
Midstream will construct a 25-mile pipeline in the DJ Basin,
connecting its system to White Cliffs, and SemGroup will construct
a 12-mile extension of White Cliffs Pipeline south of Cushing to
interconnect with Southern Hills Pipeline. The project is
backstopped by 10-year agreements with DCP Midstream, LP and its
affiliate DCP Southern Hills Pipeline, LLC. SemGroup owns 51
percent of White Cliffs Pipeline and is the operator. DCP owns 66
percent of Southern Hills Pipeline and is the operator.
Shippers will move product under a published joint tariff
between the two carriers. The open season is being held to provide
prospective shippers an opportunity to receive discount
transportation rates in exchange for long-term volume commitments.
Open Season will begin at 5 p.m. Central Time on May 24, 2018, and
will conclude at 5 p.m. Central Time on June 25, 2018.
Prospective shippers should contact Grant Najera, Commercial
Asset Manager for SemGroup, at 918-524-8525, or
gnajera@semgroupcorp.com, or Brittany Wright, NGL Business
Development for DCP Midstream, at 713-735-3657 or
bwright@dcpmidstream.com.
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;
Platteville, Colo.; and Channelview, 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.semgroupcorp.com, our Twitter
account and LinkedIn account.
About DCP Midstream, LPDCP Midstream, LP
(NYSE:DCP) is a midstream master limited partnership, with a
diversified portfolio of assets, engaged in the business of
gathering, compressing, treating, processing, transporting, storing
and selling natural gas; and producing, fractionating,
transporting, storing and selling NGLs and recovering and selling
condensate. DCP owns and operates 60 plants and more than 60,000
miles of natural gas and natural gas liquids pipelines, with
operations in 17 states across major producing regions, and leads
the midstream segment as one of the largest natural gas liquids
producers and marketers and one of the largest natural gas
processors in the U.S. Denver, Colorado based DCP is managed by its
general partner, DCP Midstream GP, LP, which is managed by its
general partner, DCP Midstream GP, LLC, which is 100% owned by DCP
Midstream, LLC. DCP Midstream, LLC 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:Alisa
Perkins918-524-8081investor.relations@semgroupcorp.com
SemGroup Media:Tom
Droege918-524-8560tdroege@semgroupcorp.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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