Energy Transfer Commences Binding Expansion Open Season for Bakken Pipeline Transport
Energy Transfer Partners, L.P. (NYSE:ETP) today announced the launch of a binding Expansion Open Season to assess additional interest in transportation service on the Dakota Access Pipeline (“DAPL”) and Energy Transfer Crude Oil Pipeline (“ETCOP”).
The Expansion Open Season is backed by executed precedent agreements that support an expansion of DAPL from the previously announced 320,000 barrels per day (“bpd”) to a capacity in excess of 450,000 bpd. Subject to the terms and conditions of the Expansion Open Season, potential shippers will have the opportunity to secure transportation service from strategic receipt points in the Bakken/Three Forks production area in North Dakota to key refinery and terminalling hubs in the Midwest and Gulf Coast. Separately, potential shippers will have the opportunity to secure transportation service from the Bakken/Three Forks production area to the Cushing hub in Oklahoma.
The binding Expansion Open Season will commence at 12:00 p.m. Central Time on September 23, 2014. Bona fide potential shippers that would like to receive copies of the open season documents, the throughput and deficiency agreement and proposed tariffs must first sign a confidentiality agreement. More information about the binding open season will be available on the ETP web site by accessing www.energytransfer.com/ops_copp.aspx upon commencement of the open season, or via e-mail at dlDA_ETCO@energytransfer.com.
Energy Transfer Partners, L.P. (NYSE:ETP) is a master limited partnership owning and operating one of the largest and most diversified portfolios of energy assets in the United States. ETP currently owns and operates approximately 35,000 miles of natural gas and natural gas liquids pipelines. ETP owns 100% of Panhandle Eastern Pipe Line Company, LP (the successor of Southern Union Company) and Sunoco, Inc., and a 70% interest in Lone Star NGL LLC, a joint venture that owns and operates natural gas liquids storage, fractionation and transportation assets. 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 crude oil and refined products pipelines, terminalling and crude oil acquisition and marketing assets. ETP’s general partner is owned by ETE. For more information, visit the Energy Transfer Partners, L.P. web site at www.energytransfer.com.
Energy Transfer Equity, L.P. (NYSE:ETE) is a master limited partnership which owns the general partner and 100% of the incentive distribution rights (IDRs) of Energy Transfer Partners, L.P. (NYSE:ETP) , approximately 30.8 million ETP common units, and approximately 50.2 million ETP Class H Units, which track 50% of the underlying economics of the general partner interest and the IDRs of Sunoco Logistics Partners L.P. (NYSE:SXL) . ETE also owns the general partner and 100% of the IDRs of Regency Energy Partners LP (NYSE:RGP) and approximately 57.2 million RGP common units. The Energy Transfer family of companies owns approximately 71,000 miles of natural gas, natural gas liquids, refined products, and crude oil pipelines. For more information, visit the Energy Transfer Equity, L.P. web site at www.energytransfer.com.
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 Partnership’s Annual Reports on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. The Partnership undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.
The information contained in this press release is available on our web site at www.energytransfer.com.
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