Shell Midstream Assesses Initial Impacts Related to Hurricane Ida
September 02 2021 - 4:35PM
Shell Midstream Partners, L.P. (NYSE:SHLX) (“Shell Midstream
Partners” or the “Partnership”) and Shell Pipeline Company, L.P.
are currently working to perform Hurricane Ida impact assessments
on all of their owned or operated assets in the Gulf of Mexico and
onshore Louisiana. Following initial high-level assessments, the
Partnership can report the following at this time:
- Gulf of Mexico Pipelines: Initial flyovers have indicated that
there was damage to the West Delta-143 facilities, which are
operated by Shell Pipeline Company, L.P. and serve as a transfer
station for the Mars Oil Pipeline for production in the Mars
corridor. All parties are continuing to assess and determine the
extent of such damage, as well as when it will be safe to return
such facilities to service.
- Onshore Assets: Operations and maintenance crews are assessing
assets and rights-of-way as they are able to gain access to
southern Louisiana locations. We are currently assessing the full
impact on our systems and when it will be safe to re-start.
- Refined Products Systems: Colonial Pipeline Company’s Lines 1
and 2 have been restored after a precautionary shut-down prior to
the storm and are now operational. The Partnership owns an
interest in Colonial Pipeline Company’s parent company, Colonial
Enterprises, Inc. Further information can be found at
https://www.colpipe.com/news/press-releases/colonial-pipeline-restores-lines-1-2-to-safe-operating-conditions-following-historic-storm.
Shell Midstream Partners carries several insurance policies in
kinds and amounts customary to the industry, which may offset some
costs of any asset damage and business losses. The
Partnership plans to file any appropriate claims under such
policies.
The Partnership will continue to provide updates as information
becomes available on the company website,
www.shellmidstreampartners.com.
Shell Midstream Partners’ primary focus continues to be the
safety of its affiliates’ employees and the protection of the
environment.
FORWARD LOOKING STATEMENTS
This press release includes various “forward-looking statements”
within the meaning of the Securities Act of 1933, as amended, and
the Securities Exchange Act of 1934, as amended. All statements
other than statements of historical fact are, or may be deemed to
be, forward-looking statements. Forward-looking statements are
statements of future expectations that are based on management’s
current expectations and assumptions and involve known and unknown
risks and uncertainties that could cause actual results,
performance or events to differ materially from those expressed or
implied in these statements. Forward-looking statements include,
among other things, statements concerning management’s
expectations, beliefs, estimates, forecasts, projections and
assumptions. You can identify our forward-looking statements by
words such as “anticipate,” “believe,” “estimate,” “budget,”
“continue,” “potential,” “guidance,” “effort,” “expect,”
“forecast,” “goals,” “objectives,” “outlook,” “intend,” “plan,”
“predict,” “project,” “seek,” “target,” “begin,” “could,” “may,”
“should” or “would” or other similar expressions that convey the
uncertainty of future events or outcomes. In accordance with “safe
harbor” provisions of the Private Securities Litigation Reform Act
of 1995, these statements are accompanied by cautionary language
identifying important factors, though not necessarily all such
factors, which could cause future outcomes to differ materially
from those set forth in forward-looking statements. In particular,
expressed or implied statements concerning future actions, the
effects of Hurricane Ida or other storms, any potential damage to
facilities caused by such storms, any potential impacts to the
business caused by such storms, any financial impacts caused by
such storms and related damage or shut-downs, and the availability
of insurance to cover any damage or loss of income are
forward-looking statements. Forward-looking statements are not
guarantees of performance. They involve risks, uncertainties and
assumptions. Future actions, conditions or events and future
results of operations may differ materially from those expressed in
these forward-looking statements. Forward-looking statements speak
only as of the date of this press release, September 2, 2021, and
we disclaim any obligation to update publicly or to revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law. All
forward-looking statements contained in this document are expressly
qualified in their entirety by the cautionary statements contained
or referred to in this paragraph. Many of the factors that will
determine these results are beyond our ability to control or
predict. More information on these risks and other potential
factors that could affect the Partnership’s financial results is
included in the Partnership’s filings with the U.S. Securities and
Exchange Commission, including in the “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and
Results of Operations” sections of the Partnership’s most recently
filed periodic reports on Form 10-K and Form 10-Q and subsequent
filings. 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, L.P., headquartered in Houston, Texas,
owns, operates, develops and acquires pipelines and other midstream
and logistics assets. The Partnership’s assets include interests in
entities that own (a) crude oil and refined products pipelines and
terminals that serve as key infrastructure to transport onshore and
offshore crude oil production to Gulf Coast and Midwest refining
markets and deliver refined products from those markets to major
demand centers and (b) storage tanks and financing receivables that
are secured by pipelines, storage tanks, docks, truck and rail
racks and other infrastructure used to stage and transport
intermediate and finished products. The Partnership’s assets also
include interests in entities that own natural gas and refinery gas
pipelines that transport offshore natural gas to market hubs and
deliver refinery gas from refineries and plants to chemical sites
along the Gulf Coast.
Inquiries:Shell Media RelationsAmericas: +1 832 337 4355
Shell Investor RelationsNorth America: +1 832 337 2034
* SHELL and the SHELL Pecten are registered trademarks of Shell
Trademark Management, B.V. used under license.
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