American Midstream Launches Open Season for Bakken Crude Oil Gathering System in McKenzie County, North Dakota
23 May 2015 - 10:31AM
Business Wire
American Midstream Partners, LP (NYSE:AMID) (the “Partnership”)
announced today that American Midstream Bakken, LLC, a wholly-owned
subsidiary of the Partnership, is conducting a binding open season
for a proposed approximately 50-mile Bakken crude oil gathering and
transportation system in the core of McKenzie County, North Dakota
(the “Bakken System”) to transport up to 40,000 barrels per day
(Bbl/d) of crude oil for delivery to major intrastate and
interstate pipeline systems beginning in June 2015. As proposed,
the Bakken System will have initial transportation capacity up to
approximately 15,000 Bbl/d with the ability to expand up to
approximately 40,000 Bbl/d.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20150522005968/en/
(Photo: Business Wire)
During the binding open season, potential shippers have the
opportunity to obtain crude oil transportation service on the
Bakken System on a committed or uncommitted basis at various
tier-based rates according to volumes transported. Parties
interested in becoming Committed Shippers can do so by making
long-term acreage or volumetric dedications for crude oil gathering
and transportation service on the Bakken System. The open season
will also provide potential shippers with the opportunity to
deliver volumes into the system via a truck rack. The open season
will last approximately 30 days, closing on June 22, 2015.
Shipper Inquiries
Bona fide potential shippers that would like to receive copies
of the open season documents and proposed tariff(s) must first sign
a confidentiality agreement. During the binding open season,
comments, questions, or changes to the general terms and conditions
of the proposed tariffs, services and/or routes are due in writing
by noon Central Time on June 22, 2015. Interested parties will have
the opportunity to execute committed agreements for crude oil
transportation service on the proposed gathering pipeline
system.
For more information about the open season, or to obtain copies
of the open season documents and proposed tariff(s), please contact
Rod Donovan, Vice President of Business Development at
rdonovan@americanmidstream.com or (713) 815-3970.
About American Midstream Partners, LP
Denver-based American Midstream Partners, LP is a
growth-oriented limited partnership formed to own, operate, develop
and acquire a diversified portfolio of midstream energy assets. The
Partnership provides midstream services in the Texas, North Dakota,
and the Gulf Coast and Southeast regions of the United States. For
more information about American Midstream Partners, LP, visit
www.americanmidstream.com.
Forward-Looking Statements
This press release includes forward-looking statements. These
statements relate to, among other things, projections of
operational volumetrics and improvements, growth projects, cash
flows and capital expenditures. We have used the words
"anticipate," "believe," "could," "estimate," "expect," "intend,"
"may," "plan," "predict," "project," "should," "will," "potential,"
and similar terms and phrases to identify forward-looking
statements in this press release. Although we believe the
assumptions upon which these forward-looking statements are based
are reasonable, any of these assumptions could prove to be
inaccurate and the forward-looking statements based on these
assumptions could be incorrect. Our operations and future growth
involve risks and uncertainties, many of which are outside our
control, and any one of which, or a combination of which, could
materially affect our results of operations and whether the
forward-looking statements ultimately prove to be correct. Actual
results and trends in the future may differ materially from those
suggested or implied by the forward-looking statements depending on
a variety of factors which are described in greater detail in our
filings with the SEC. The completion of the Bakken System in this
press release is subject to land acquisition needs and other
conditions beyond our control. Construction of the projects
described in this press release is subject to risks beyond our
control including cost overruns and delays resulting from numerous
factors. In addition, we face risks associated with completion
of this project including decreased liquidity, increased interest
and other expenses, assumption of potential liabilities, diversion
of management’s attention, and other risks associated with
construction and growth. Please see our Risk Factor disclosures
included in our Annual Report on Form 10-K for the year ended
December 31, 2014 filed on March 10, 2015 and our Quarterly Report
on Form 10-Q for the quarter ended March 31, 2015 filed on May 11,
2015. All future written and oral forward-looking statements
attributable to us or persons acting on our behalf are expressly
qualified in their entirety by the previous statements. The
forward-looking statements herein speak as of the date of this
press release. We undertake no obligation to update any information
contained herein or to publicly release the results of any
revisions to any forward-looking statements that may be made to
reflect events or circumstances that occur, or that we become aware
of, after the date of this press release.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150522005968/en/
American Midstream Partners, LP.Investor
Contact:Allysa Howell, 303-942-2359Investor Relations
ManagerAHowell@AmericanMidstream.com
American Midstream Partn... (NYSE:AMID)
Historical Stock Chart
From Feb 2024 to Mar 2024
American Midstream Partn... (NYSE:AMID)
Historical Stock Chart
From Mar 2023 to Mar 2024