This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

White Cliffs Pipeline L.L.C. Announces Binding Open Season To Expand Capacity On White Cliffs Pipeline

TULSA, Okla., Sept. 21, 2012 (GLOBE NEWSWIRE) -- White Cliffs Pipeline, L.L.C. ("WCPL") a partially owned subsidiary of SemGroup® Corporation (NYSE:SEMG), is considering an expansion of capacity from Platteville, Colorado to Cushing, Oklahoma to facilitate increasing shipments of crude petroleum from the DJ Basin to the Cushing hub (the "Expansion Project"). WCPL hereby announces a binding open season that will provide an opportunity for shippers to support the Expansion Project by making volume commitments, thereby becoming "Priority Service Shippers."

Highlights of Project

  • It is anticipated that the Expansion Project would provide capacity for the transportation of approximately 80,000 bpd of crude petroleum from the DJ Basin and that it could be further expanded to support higher volumes as commitments may dictate.
  • Subject to regulatory approval, the committed volumes of Priority Service Shippers would not be subject to pro-rationing under ordinary operating conditions.
  • Priority Service Shippers would not be exposed to construction cost risk on their volume commitments.
  • It is anticipated that the Expansion Project would be in-service for the transportation of crude petroleum by the first half of 2014. Following pipeline construction, Rose Rock Midstream, LP (NYSE:RRMS), SemGroup's master limited partnership, will continue in its role serving as the pipeline operator.

Priority Service Shippers' obligations to ship or pay under the transportation services agreements would commence on the in service date of the Expansion Project.

Open Season Process

Bona fide potential shippers that desire to receive copies of the open season documents, including the throughput and deficiency agreement (the "T&D Agreement"), are required to execute a confidentiality agreement (the "CA") in the form and pursuant to instructions available at:

http://www.semgroupcorp.com/OperationsAndCommodities/CrudeOil/WhiteCliffsPipeline/Open%20Season.aspx

Open season will remain open for 31 days and close at 5:00 P.M. CDT on October 22, 2012 at which time the T&D Agreement must be executed.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs