Tallgrass Energy, LP (NYSE: TGE) (“Tallgrass”) today announced an open
season soliciting binding shipper commitments for crude oil
transportation service on the Seahorse Pipeline (“Seahorse”).
The proposed Seahorse Pipeline is expected to be 30 inches in diameter
and approximately 700 miles long, with the capacity to transport up to
800,000 barrels of crude oil per day from the Cushing oil hub to the
Louisiana Gulf Coast. The pipeline will operate as a multi-grade common
batch system that, along with Tallgrass’ Pony Express Pipeline, will
ensure domestic refiners and international markets have access to “neat”
barrels from five different production basins. Seahorse is expected to
start commercial operations in the third quarter of 2021.
In addition, to accommodate shipper interest and continued growth in the
Powder River, Denver-Julesburg and Bakken producing regions, Tallgrass
expects to complete pump optimization projects to expand capacity on its
Pony Express Pipeline to enable it to transport up to 400,000 barrels
per day by the end of the year. If shipper interest exceeds that added
capacity, Tallgrass may expand the Pony Express Pipeline further through
potential additional horsepower and/or looping to facilitate large-scale
movements from Guernsey and northeast Colorado.
The Seahorse open season runs through Oct. 1. Prospective shippers may
review details of the open season after executing a confidentiality
agreement obtained by contacting Tallgrass representatives Kyle
Quackenbush, 303.763.3319; Andrew DiPaolo, 303.763.3329; or Dean Dick,
307.232.4430.
Project investment is dependent upon obtaining satisfactory customer
interest and receiving applicable state and federal permits, among other
factors.
About Tallgrass Energy
Tallgrass Energy, LP (NYSE: TGE) is a growth-oriented midstream energy
infrastructure company operating across 11 states with transportation,
storage, terminal, water, gathering and processing assets that serve
some of the nation’s most prolific crude oil and natural gas basins.
To learn more, please visit our website at www.tallgrassenergy.com.
Cautionary Note Concerning Forward-Looking
Statements
Disclosures in this press release contain forward-looking statements.
All statements, other than statements of historical facts, included in
this press release that address activities, events or developments that
management expects, believes or anticipates will or may occur in the
future are forward-looking statements. Without limiting the generality
of the foregoing, forward-looking statements contained in this press
release specifically include the feasibility, cost, execution,
in-service timing, capabilities and expected benefits of the Seahorse
development project and the Pony Express Pipeline expansion projects.
Such statements are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the control of Tallgrass, which
may cause actual results to differ materially from those implied or
expressed by the forward-looking statements, and other important factors
that could cause actual results to differ materially from those
projected, including those set forth in reports filed by Tallgrass with
the Securities and Exchange Commission. Any forward-looking statement
applies only as of the date on which such statement is made, and
Tallgrass does not intend to correct or update any forward-looking
statement, whether as a result of new information, future events or
otherwise, except as required by law.
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Copyright Business Wire 2018
Source: Business Wire
(August 15, 2018 - 2:11 PM EDT)
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