Energy Transfer, Sunoco Logistics, and Phillips 66 Announce Binding Supplemental Open Season for Bakken Pipeline Transport
18 August 2016 - 6:11AM
Business Wire
Dakota Access, LLC (“Dakota Access”) and Energy Transfer
Crude Oil Company, LLC (“ETCO”) today announced the launch of a
Binding Supplemental Open Season (“Supplemental Open Season”) to
solicit shipper commitments for transportation service for
Bakken/Three Forks production to reach multiple markets through
their respective pipeline systems (collectively, the "Bakken
Pipeline"). Dakota Access and ETCO each anticipate that incremental
transport capacity for Bakken/Three Forks production will be
determined based on committed subscriptions made by shippers during
the Supplemental Open Season.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20160817006204/en/
The Supplemental Open Season includes local tariff service on
the Dakota Access pipeline from the Bakken/Three Forks play to
Patoka, Illinois. It also provides interested parties with the
opportunity for joint tariff service from the Bakken/Three Forks
play to Nederland, Texas, through a commitment to both the Dakota
Access and ETCO pipeline systems.
Through wholly owned subsidiaries, Bakken Holdings Company, LLC
owns a 75 percent membership interest in each of Dakota Access and
ETCO, the entities responsible for developing, owning and operating
the Bakken Pipeline. The remaining 25 percent of each of Dakota
Access and ETCO is owned by wholly owned subsidiaries of Phillips
66 (NYSE: PSX). Bakken Holdings Company, LLC is owned 60 percent by
a wholly owned subsidiary of Energy Transfer Partners, L.P. (NYSE:
ETP) and 40 percent by a wholly owned subsidiary of Sunoco
Logistics Partners L.P. (NYSE: SXL).
Supplemental Open Season Process
The Supplemental Open Season commenced at 12:00 p.m. (CDT) on
August 12, 2016.
Bona fide potential shippers that desire to receive copies of
the open season documents are required to execute a confidentiality
agreement and may direct their requests for a confidentiality
agreement to the following e-mail address:
dlDA_ETCO@energytransfer.com
About Energy Transfer Partners
Energy Transfer Partners, L.P. (NYSE: ETP) is a master limited
partnership that owns and operates one of the largest and most
diversified portfolios of energy assets in the United States. ETP’s
subsidiaries include Panhandle Eastern Pipe Line Company, LP (the
successor of Southern Union Company) and Lone Star NGL LLC, which
owns and operates natural gas liquids storage, fractionation and
transportation assets. In total, ETP currently owns and operates
more than 62,500 miles of natural gas and natural gas liquids
pipelines. ETP also owns the general partner, 100% of the incentive
distribution rights, and approximately 67.1 million common units in
Sunoco Logistics Partners L.P. (NYSE: SXL), which operates a
geographically diverse portfolio of pipelines, terminalling and
acquisition and marketing assets. ETP’s general partner is owned by
Energy Transfer Equity, L.P. For more information, visit the Energy
Transfer Partners, L.P. website at www.energytransfer.com.
About Sunoco Logistics
Sunoco Logistics Partners L.P. (NYSE: SXL) is a master
limited partnership that owns and operates a logistics business
consisting of a geographically diverse portfolio of complementary
crude oil, natural gas liquids and refined products pipeline,
terminalling and acquisition and marketing assets which are used to
facilitate the purchase and sale of crude oil, natural gas liquids
and refined products. SXL’s general partner is a consolidated
subsidiary of Energy Transfer Partners, L.P. For more
information, visit the Sunoco Logistics Partners
L.P. website at www.sunocologistics.com.
About Phillips 66
Phillips 66 is a diversified energy manufacturing and logistics
company. With a portfolio of Midstream, Chemicals, Refining, and
Marketing and Specialties businesses, the company processes,
transports, stores and markets fuels and products globally.
Phillips 66 Partners, the company's master limited partnership, is
an integral asset in the portfolio. Headquartered in Houston, the
company has 14,000 employees committed to safety and operating
excellence. Phillips 66 had $50 billion in assets as of June 30,
2016. For more information, visit www.phillips66.com or follow us
on Twitter @Phillips66Co.
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 the Annual Reports on Form 10-K and
other documents filed by Phillips 66, Energy Transfer Partners and
Sunoco Logistics from time to time with the Securities and Exchange
Commission. Phillips 66, Energy Transfer Partners and Sunoco
Logistics undertake no obligation to update or revise any
forward-looking statement to reflect new information or events.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160817006204/en/
Energy TransferInvestor Relations:Brent Ratliff,
214-981-0795 (office)orMedia Relations:Granado
Communications GroupVicki Granado, 214-599-8785
(office)214-498-9272 (cell)orSunoco LogisticsInvestor
Relations:Peter Gvazdauskas, 215-977-6322orMedia
Relations:Jeff Shields, 215-977-6056orPhillips
66Investor Relations:Rosy Zuklic,
832-765-2297rosy.zuklic@p66.comorC.W. Mallon,
832-765-2297c.w.mallon@p66.comorMedia Relations:Dennis Nuss,
832-765-1850dennis.h.nuss@p66.com
Sunoco Logistics Partners L.P. (NYSE:ETP)
Historical Stock Chart
From Apr 2024 to May 2024
Sunoco Logistics Partners L.P. (NYSE:ETP)
Historical Stock Chart
From May 2023 to May 2024