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

Stocks in this article: SEMG

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.

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