Transporting Crude From North Dakota to
Multiple Major U.S. Markets in a More Direct, Cost-effective, Safer
and More Environmentally Responsible Manner Than Either Rail or
Truck
Energy Transfer Partners, L.P. (NYSE: ETP) today announced that
the Dakota Access Pipeline (“Dakota Access”) and the Energy
Transfer Crude Oil Pipeline (“ETCO”), collectively the “Bakken
Pipeline,” are in commercial service under the Committed
Transportation Service Agreements through their respective pipeline
systems. The Bakken Pipeline, owned by Dakota Access, LLC and
Energy Transfer Crude Oil Company LLC, respectively, is a
1,872-mile, mostly 30-inch pipeline system that transports
domestically produced crude oil from the Bakken/Three Forks
productions areas in North Dakota to a storage and terminalling hub
outside Patoka, Illinois, and/or down to additional terminals in
Nederland, Texas. The Bakken Pipeline is a joint venture between
Energy Transfer Partners with a 38.25 percent interest, MarEn
Bakken Company LLC (“MarEn”) with a 36.75 percent interest, and
Phillips 66 with a 25 percent interest. MarEn is an entity owned by
MPLX LP and Enbridge Energy Partners L.P.
Dakota Access and ETCO, developed at a combined cost of
approximately $4.78 billion have commitments, including shipper
flexibility and walk-up, for approximately 520,000 barrels per day.
This is up from 470,000 barrels per day due to the successful
Supplemental Open Season held earlier this year that committed an
additional 50,000 barrels per day. The combined system is
expandable to a capacity of approximately 570,000 barrels per day.
The pipeline will transport light, sweet crude oil from North
Dakota to major refining markets in a more direct, cost-effective,
safer and more environmentally responsible manner than other modes
of transportation, including rail or truck.
The $3.8 billion Dakota Access consists of approximately 1,172
miles of 30-inch diameter pipeline traversing North Dakota, South
Dakota, Iowa and Illinois. Crude oil transported on Dakota Access
originates at six terminal locations in the North Dakota counties
of Mountrail, Williams and McKenzie. The pipeline delivers the
crude oil to a hub outside of Patoka, Illinois where it can be
delivered to the ETCO pipeline for delivery to the Gulf Coast, or
can be transported via other pipelines to refining markets
throughout the Midwest. ETCO consists of more than 700 miles of
mostly 30-inch converted natural gas pipeline from Patoka, Illinois
to Nederland, Texas, where the crude oil can be refined or further
transported to additional refining markets.
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.
Strategically positioned in all of the major U.S. production
basins, ETP owns and operates a geographically diverse portfolio of
complementary natural gas midstream, intrastate and interstate
transportation and storage assets; crude oil, natural gas liquids
(NGL) and refined product transportation and terminalling assets;
NGL fractionation; and various acquisition and marketing assets.
ETP’s general partner is owned by Energy Transfer Equity, L.P.
(NYSE: ETE). For more information, visit the Energy Transfer
Partners, L.P. website at www.energytransfer.com.
Energy Transfer Equity, L.P. (NYSE: ETE) is a master
limited partnership that owns the general partner and 100% of the
incentive distribution rights (IDRs) of Energy Transfer Partners,
L.P. (NYSE: ETP) and Sunoco LP (NYSE: SUN). ETE also owns Lake
Charles LNG Company. On a consolidated basis, ETE’s family of
companies owns and operates a diverse portfolio of natural gas,
natural gas liquids, crude oil and refined products assets, as well
as retail and wholesale motor fuel operations and LNG terminalling.
For more information, visit the Energy Transfer Equity, L.P.
website at www.energytransfer.com.
Enbridge Energy Partners, L.P. (NYSE: EEP) owns and
operates a diversified portfolio of crude oil transportation
systems in the United States. Its principal crude oil system is the
largest pipeline transporter of growing oil production from western
Canada and the North Dakota Bakken formation. The system's
deliveries to refining centers and connected carriers in the United
States account for approximately 23 percent of total U.S. oil
imports.
MPLX LP (NYSE: MPLX) is a diversified, growth-oriented
master limited partnership formed in 2012 by Marathon Petroleum
Corporation to own, operate, develop and acquire midstream energy
infrastructure assets. We are engaged in the gathering, processing
and transportation of natural gas; the gathering, transportation,
fractionation, storage and marketing of NGLs; and the
transportation, storage and distribution of crude oil and refined
petroleum products. Headquartered in Findlay, Ohio, MPLX's assets
consist of a network of crude oil and products pipeline assets
located in the Midwest and Gulf Coast regions of the United States;
62 light-product terminals with approximately 24 million barrels of
storage capacity; an inland marine business; storage caverns with
approximately 2.8 million barrels of storage capacity; crude oil
and product storage facilities (tank farms) with approximately 5
million barrels of available storage capacity; a barge dock
facility with approximately 78,000 barrels per day of crude oil and
product throughput capacity; and gathering and processing assets
that include more than 5,600 miles of gas gathering and NGL
pipelines, 55 gas processing plants, 14 NGL fractionation
facilities and two condensate stabilization facilities.
Phillips 66 (NYSE: PSX) 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 14,600 employees
committed to safety and operating excellence. Phillips 66 had $51
billion of assets as of March 31, 2017. 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 ETP’s Annual Reports on Form 10-K
and other documents filed from time to time with the Securities and
Exchange Commission. ETP undertakes no obligation to update or
revise any forward-looking statement to reflect new information or
events.
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version on businesswire.com: http://www.businesswire.com/news/home/20170601005537/en/
Energy Transfer Partners, L.P.Investor Relations:Lyndsay Hannah,
214-981-0795orBrent Ratliff, 214-981-0795orHelen Ryoo,
214-981-0795orMedia Relations:Vicki Granado, 214-840-5820orLisa
Dillinger, 214-840-5820
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