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!

Western Refining Announces Start-Up Of Delaware Basin Logistics Project

EL PASO, Texas, April 11, 2013 (GLOBE NEWSWIRE) -- Western Refining, Inc. (NYSE:WNR) announced today the start-up of its Mason Station Crude Oil Terminal in Reeves County, Texas ("Mason Station") which is the first phase of the Company's Delaware Basin Crude Oil Gathering System ("Delaware Basin System"). Mason Station is owned and operated by a subsidiary of the Company. Mason Station includes crude oil storage, truck offloading stations, and a pipeline connection to the Kinder Morgan El Paso crude oil pipeline ("Kinder Morgan Line").     

The second phase of the Delaware Basin System includes approximately 50 miles of crude oil gathering lines in Southern New Mexico and West Texas and is expected to be completed during the second quarter of 2013. When completed, phases one and two of the Delaware Basin System will be capable of delivering up to 100,000 barrels per day of shale crude oil to the Kinder Morgan Line for delivery to Western's El Paso refinery. The refinery is currently processing approximately 25,000 barrels per day of the Delaware Basin-sourced crude oil.

Western also announced it is evaluating the feasibility of third and fourth phases for this project. Phase three would connect its Delaware Basin System to its existing 16" TexNew Mex pipeline in Chaves County, New Mexico. This connection would provide additional supply flexibility for new shale crude oil to its El Paso, Texas and Gallup, New Mexico refineries. Phase four includes evaluation of the feasibility of expanding Western's rail capabilities at its Gallup refinery. Currently, the Gallup refinery has capacity to load six tanker rail cars per day which could be expanded to 20 tanker rail cars per day.

Jeff Stevens, President and CEO of Western commented, "We continue to explore all options to expand and enhance our logistics capabilities in the Permian Basin and Four Corners regions. Our unique location and existing infrastructure present us with a number of opportunities to maximize our flexibility to deliver shale crude oil to both our refineries, and potentially others, by capitalizing on the increased crude oil production in these regions."

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 18,135.72 +38.82 0.21%
S&P 500 2,101.04 +2.51 0.12%
NASDAQ 4,982.8090 +15.6680 0.32%

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