Western Refining Announces New Delaware Basin Pipeline Project
April 17 2014 - 5:30AM
Western Refining, Inc. (NYSE:WNR) announced today an additional
pipeline project in the Delaware Basin. Subject to approvals,
Western plans to construct a new pipeline originating near Western
Refining Logistics, LP's (NYSE:WNRL) existing Mason Station crude
oil gathering facility in Reeves County, Texas terminating at a new
crude oil gathering facility at Wink Station in Winkler County,
Texas. The pipeline, approximately 40 miles in length, will be
capable of receiving and transporting up to 125,000 barrels per day
of light crude oil and condensate (> 45° API) for delivery
to common carrier pipelines at Wink, Texas and is expected to
be in service by mid-2015.
Jeff Stevens, President and CEO of Western commented, "Given the
growth of light crude oil and condensate production in the Delaware
Basin, we believe there is an opportunity to continue to expand and
enhance our logistics capabilities. Our unique location and
existing infrastructure present us with a number of opportunities
to maximize our capabilities to deliver shale crude oil to both our
refineries and third parties."
About Western Refining
Western Refining, Inc. is an independent refining and marketing
company headquartered in El Paso, Texas. The refining segment
operates refineries in El Paso, and Gallup, New Mexico. The
wholesale segment includes a fleet of crude oil and finished
product truck transports, and wholesale petroleum products
operations in Arizona, California, Colorado, Georgia, Maryland,
Nevada, New Mexico, Texas, and Virginia. The retail segment
includes retail service stations and convenience stores in Arizona,
Colorado, New Mexico, and Texas.
Western Refining, Inc. also owns the general partner and
approximately 65% of the limited partnership interest of Western
Refining Logistics, LP (NYSE:WNRL) and the general partner and
approximately 39% of the limited partnership interest in Northern
Tier Energy LP (NYSE:NTI).
More information about Western Refining is available at
www.wnr.com.
Cautionary Statement on Forward-Looking
Statements
This press release contains forward-looking statements which are
protected as forward-looking statements under the Private
Securities Litigation Reform Act of 1995. The forward-looking
statements contained herein include statements about
future: expansion and enhancement of our logistics
capabilities in the Delaware Basin region including the requisite
approvals and completion dates for such projects, transportation
capacities of our expanded and enhanced logistics assets, and the
ability of our refineries to process shale crude oil. These
statements are subject to the general risks inherent in our
business and may or may not be realized. Some of our
expectations may be based upon assumptions or judgments that prove
to be incorrect. In addition, Western's business and operations
involve numerous risks and uncertainties, many of which are beyond
Western's control, which could materially affect Western's
financial condition, results of operations and cash
flows. Additional information relating to the uncertainties
affecting Western's business is contained in its filings with the
Securities and Exchange Commission. The forward-looking
statements are only as of the date made, and Western does not
undertake any obligation to (and expressly disclaims any obligation
to) update any forward-looking statements to reflect events or
circumstances after the date such statements were made, or to
reflect the occurrence of unanticipated events.
CONTACT: Investor and Analyst Contact:
Jeffrey S. Beyersdorfer
(602) 286-1530
Media Contact:
Gary Hanson
(602) 286-1777
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