TULSA, Okla., HOUSTON, and THE
WOODLANDS, Texas, Dec. 9, 2015
/PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP)
("Magellan"), Plains All American Pipeline, L.P. (NYSE: PAA)
("Plains") and Anadarko Petroleum Corporation (NYSE: APC)
("Anadarko") announced today that
Saddlehorn Pipeline Company, LLC ("Saddlehorn") has launched a
supplemental open season to seek additional transportation
commitments for the Saddlehorn pipeline. Interested customers must
submit binding commitments by 5:00 p.m.
Central Time on Jan. 7,
2016.
The Saddlehorn pipeline, which is currently under construction,
will be capable of transporting at least 190,000 barrels per day of
crude oil from the DJ Basin, and potentially the broader Rocky
Mountain area resource plays, to storage facilities in Cushing, Oklahoma owned by Magellan and
Plains. The pipeline's Platteville,
Colorado origin and Cushing
destination will each include one million barrels of storage. The
pipeline is also being extended from Platteville to Carr,
Colorado.
The Platteville-to-Cushing segment of the pipeline is expected to
be operational during mid-2016, and the Carr-to-Platteville segment is expected to be
operational in the fourth quarter of 2016.
As previously announced, Saddlehorn has already received binding
commitments from a wholly owned subsidiary of Anadarko and from Noble Energy, Inc.
For customer inquiries or additional information about the open
season, please contact Christina
Payne of Magellan at (918) 574-7881 or
christina.payne@magellanlp.com.
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 95 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. 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"), natural gas and refined products. PAA
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, PAA handles over 4.4
million barrels per day of crude oil and NGL on its pipelines. PAA
is headquartered in Houston,
Texas. More information is available at
www.plainsallamerican.com.
About Anadarko Petroleum Corporation
Anadarko Petroleum Corporation's mission is to deliver a
competitive and sustainable rate of return to shareholders by
exploring for, acquiring and developing oil and natural gas
resources vital to the world's health and welfare. As of year-end
2014, the company had approximately 2.86 billion barrels-equivalent
of proved reserves, making it one of the world's largest
independent exploration and production companies. For more
information about Anadarko and APC
Flash Feed updates, please visit www.anadarko.com.
Portions of this document constitute forward-looking
statements as defined by federal law. Although management of
Anadarko Petroleum Corporation, Magellan Midstream Partners, L.P.
and Plains All American Pipeline, L.P. (the "companies") believe
any such statements are based on reasonable assumptions, there is
no assurance that actual outcomes will not be materially different.
Among the key risk factors associated with the project that may
have a direct impact on Saddlehorn's and the companies' results of
operations and financial condition are: (1) the ability to obtain
all required rights-of-way, permits and other governmental
approvals on a timely basis; (2) the ability to complete
construction of the project on time and at expected costs; (3)
price fluctuations and overall demand for crude oil; (4) changes in
Saddlehorn's tariff rates or other terms imposed by state or
federal regulatory agencies; (5) the occurrence of an operational
hazard or unforeseen interruption; (6) disruption in the debt and
equity markets that negatively impacts Saddlehorn's or the
companies' abilities to finance capital spending and (7)
willingness to incur or failure of customers or vendors to meet or
continue contractual obligations related to the project. Additional
information about issues that could lead to material changes in
performance is contained in filings with the Securities and
Exchange Commission for all companies. The companies undertake no
obligation to revise these forward-looking statements to reflect
events or circumstances occurring after today's date.
Contact Information:
Magellan:
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Paula Farrell,
Investor Relations
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(918)
574-7650
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paula.farrell@magellanlp.com
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Bruce Heine, Media
Relations
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(918)
574-7010
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bruce.heine@magellanlp.com
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Plains:
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Ryan Smith, Investor
Relations
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(866)
809-1291
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Brad Leone, Media
Relations
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(866)
809-1290
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Anadarko:
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John Colglazier,
Investor Relations
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(832)
636-2306
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john.colglazier@anadarko.com
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John Christiansen,
Media Relations
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(832)
636-8736
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john.christiansen@anadarko.com
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To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/saddlehorn-pipeline-announces-open-season-for-additional-pipeline-commitments-300190433.html
SOURCE Magellan Midstream Partners, L.P.; Plains All American
Pipeline, L.P.; Anadarko Petroleum Corporation