Spectra Energy Announces Crude Oil Pipeline from Rockies to Midwest | SE Message Board Posts


Spectra Energy Corp.

  SE website

SE   /  Message Board  /  Read Message

 

 






Keyword
Subject
Between
and
Rec'd By
Authored By
Minimum Recs
  
Previous Message  Next Message    Post Message    Post a Reply return to message boardtop of board
Msg  164 of 165  at  11/28/2016 9:06:52 PM  by

jerrykrause


Spectra Energy Announces Crude Oil Pipeline from Rockies to Midwest

 
Publication Logo
Plus Company Updates(PCU)
Spectra Energy Announces Crude Oil Pipeline from Rockies to Midwest
 

Houston, Texas: Spectra Energy Corp has issued the following news release:

Spectra Energy (NYSE: SE) and Spectra Energy Partners (NYSE: SEP) today announced a proposed expansion of their oil pipeline network, with service from Guernsey, WY to Patoka, IL. This announcement is in response to strong market demand to move light, sweet, U.S. domestic crude from multiple supply areas, including the Bakken, the Denver-Julesburg Basin and the Powder River Basin, to Patoka, where shippers will be able to access Midwest and Gulf Coast markets. The expansion may enable future access to Eastern U.S. refiners as Spectra Energy continues to explore opportunities to serve those markets as well.


“We’ve had very strong indications of interest from shippers and believe that producers will achieve higher netback prices by accessing high value markets via this expansion,” said Greg Ebel, Spectra Energy’s chairman, chief executive officer and president. “We are pleased by the strong demand we have seen for our existing crude oil system capacity. This success is driving our commitment to maximize our growth through organic expansion, and we believe this new option will be a welcome solution for customers wanting to move domestic oil to key U.S. markets.”

The expansion, which will be in service in 2017 with an initial capacity of approximately 400,000 barrels per day, will provide unprecedented access for shippers to reach markets in eastern PADD 2 and the flexibility to meet light crude refinery demand on the Gulf Coast.

Interested shippers should contact Matt Cheadle at mcheadle@spectraenergy.com or (403) 699-1371 for additional information. Spectra Energy will hold a binding Open Season in the first quarter of 2015.


Spectra Energy Corp (NYSE: SE), a FORTUNE 500 company, is one of North America's leading pipeline and midstream companies. Based in Houston, Texas, the company ’s operations in the United States and Canada include more than 22,000 miles of natural gas, natural gas liquids, and crude oil pipelines; approximately 305 billion cubic feet (Bcf) of natural gas storage; 4.8 million barrels of crude oil storage; as well as natural gas gathering, processing, and local distribution operations. Spectra Energy is the general partner of Spectra Energy Partners (NYSE: SEP), one of the largest pipeline master limited partnerships in the United States and owner of the natural gas, natural gas liquids, and crude oil assets in Spectra Energy’s U.S. portfolio. Spectra Energy also has a 50 percent ownership in DCP Midstream, the largest producer of natural gas liquids and the largest natural gas processor in the United States. Spectra Energy has served North American customers and communities for more than a century.

 


     e-mail to a friend      printer-friendly     add to library      
|  
Recs: 0  
   Views: 233 []
Previous Message  Next Message    Post Message    Post a Reply return to message boardtop of board




Financial Market Data provided by
.
Loading...