Plains All American Pipeline is Proceeding with Construction of Cactus II Pipeline
January 22 2018 - 4:20PM
Business Wire
Will Add Up to 585,000 Barrels Per Day of
Permian Basin Pipeline Takeaway Capacity
A subsidiary of Plains All American Pipeline, L.P. (NYSE: PAA)
today announced that it has received sufficient binding commitments
on its initial open season (which closed today) and that it is
proceeding with construction of a new pipeline system from the
Permian Basin to the Corpus Christi/Ingleside area (the “Cactus II
Pipeline”). Permitting, right-of-way and procurement activities are
underway, and subject to receipt of necessary permits and
regulatory approvals, the Cactus II Pipeline is targeted to be
operational in the third quarter of 2019.
The Cactus II Pipeline includes a combination of existing
pipelines and two new pipelines. The first new pipeline will extend
from Wink South to McCamey, TX, and the second pipeline will extend
from McCamey to the Corpus Christi/Ingleside area.
PAA has also received sufficient customer interest to conduct a
second binding open season related to Cactus II Pipeline. Origin
points will be Orla, Wink South, Midland, Crane and McCamey, TX.
This open season provides an opportunity for additional shippers to
enter into transportation services agreements that provide for
long-term crude oil transportation on Cactus II Pipeline. Based on
market demand, this second open season will include additional
committed tariff rate structures, but is otherwise consistent with
the terms of the first open season.
Additional information is contained in a Notice of Open Season
that is posted on our website at
https://www.plainsallamerican.com/customer-center/pipeline-tariffs/open-seasons.
Interested parties should contact Kevin Snodgrass at
713-646-4616. As described in the Notice of Open Season, interested
entities must sign a confidentiality agreement before receiving the
open season documents. The second open season begins on January 22,
2018 at 5 p.m. CT and will end at 5 p.m. CT on February 21,
2018.
Forward Looking Statements
This press release may include 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 are difficult to predict and many of which are beyond
management’s control. An extensive list of factors that can affect
future results are discussed in PAA’s Annual Report on Form 10-K
and other documents filed from time to time with the Securities and
Exchange Commission. PAA undertakes no obligation to update or
revise any forward-looking statement to reflect new information or
events.
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"), and natural gas. 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 5 million barrels
per day of crude oil and NGL in its Transportation segment. PAA is
headquartered in Houston, Texas. More information is available at
www.plainsallamerican.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20180122006554/en/
Plains All AmericanInvestors:Brett Magill, (866)
809-1291Manager, Investor Relations
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