This Day On The Street
Continue to site right-arrow
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

NuStar To Further Expand Its Eagle Ford Crude Oil Pipeline System And Corpus Christi Terminal

NuStar Energy L.P. (NYSE: NS) has announced that it has entered into a long-term Pipeline and Terminal Services Agreement with ConocoPhillips that will allow expansion of NuStar’s South Texas Crude Oil Pipeline System. The agreement will include a pipeline expansion project for NuStar that will allow NuStar to serve ConocoPhillips’ growing production in the Eagle Ford Shale play, and new pipeline and terminal facilities will provide Eagle Ford producers with a cost-effective transportation alternative for their growing production.

“We are excited to announce another major, accretive expansion in the Eagle Ford region so soon after the acquisition of TexStar’s crude pipeline assets in the Eagle Ford region as it further expands the area our pipeline system can serve,” said Curt Anastasio, President and CEO of NuStar. “This expansion, backed by major producers like ConocoPhillips, cements NuStar’s position as a key logistics provider for Eagle Ford Shale play. We are fortunate to have extensive pipeline and terminal assets already in operation throughout the region with the capacity to easily support an expansion of this size and help support the incredible production growth taking place in the Eagle Ford Shale play.”

A new NuStar pipeline will originate at a 100,000 barrel NuStar terminal to be constructed near Pawnee, Texas, and will connect to NuStar’s existing 12-inch pipeline system between Pettus, Texas and Three Rivers, Texas. NuStar will connect its existing 12-inch pipeline to its Oakville, Texas Terminal for crude delivery to the NuStar North Beach Terminal. The crude will be transported to Corpus Christi via NuStar’s existing 16-inch pipeline, and via new pipeline connections that will be built to Corpus Christi refineries. NuStar will also provide truck-receiving facilities at the new terminal near Pawnee, Texas and at its recently completed terminal in Oakville.

In addition, NuStar is already constructing a new ship dock in Corpus Christi that will support the North Beach Terminal under a long-term lease with the Port of Corpus Christi. The private dock facility and refinery connections will enable NuStar to continue to expand its pipeline systems to meet the production growth taking place in South Texas. The pipeline expansion project will be completed during the fourth quarter of 2013, while the new dock facilities are expected to be complete in the first quarter of 2014.

1 of 2

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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 18,144.55 -144.08 -0.79%
S&P 500 2,103.95 -13.44 -0.63%
NASDAQ 4,968.6740 -39.4220 -0.79%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs