Shell Midstream Partners, L.P. Expected Operating Income Impact Due to Hurricane Harvey
September 15 2017 - 8:00AM
Shell Midstream Partners, L.P. (NYSE: SHLX) today announced all
pipelines owned by the Partnership have been returned to service
after a comprehensive assessment of the asset integrity of each
system. The Partnership expects outages and repairs related
to Hurricane Harvey to have an impact of approximately $15 million
on its third quarter 2017 operating income. The majority of
the impact is due to outages on the Zydeco system following severe
flooding along the Texas Gulf Coast. On Thursday, September
14th, the final segment of Zydeco was returned to service following
the successful testing of the system.
Shell Midstream Partners’ primary focus
continues to be the safety of employees and the protection of the
environment.
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Many of the factors that will determine these results are beyond
our ability to control or predict. These factors include the risk
factors described in Part I, Item 1A. "Risk Factors" in our Annual
Report on Form 10-K for the year ended December 31, 2016, as
updated by the information in our other filings with the SEC. If
any of those risks occur, it could cause our actual results to
differ materially from those contained in any forward-looking
statement. Because of these risks and uncertainties, you should not
place undue reliance on any forward-looking statement.
About Shell Midstream Partners, L.P. Shell
Midstream Partners, headquartered in Houston, Texas, is a
fee-based, growth-oriented midstream master limited partnership
formed by Royal Dutch Shell to own, operate, develop and acquire
pipelines and other midstream assets. Shell Midstream Partners'
assets consist of interests in entities that own crude oil and
refined products pipelines serving as key infrastructure to
transport onshore and offshore crude oil production to Gulf Coast
and Midwest refining markets and to deliver refined products from
those markets to major demand centers, as well as interests in
entities that own natural gas and refinery gas pipelines which
transport offshore natural gas to market hubs and deliver refinery
gas from refineries and plants to chemical sites along the Gulf
Coast.
Investor Relations Contacts: +1 (832) 337-2034 Media Contacts:
+1 (832) 337-4355
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