Sunoco Logistics Partners L.P. (NYSE: SXL) today announced that Sunoco Pipeline L.P. will commence a binding Open Season for its Permian Express 2 pipeline. The pipeline will provide additional crude oil takeaway capacity for the growing production in the Permian Basin. The pipeline will originate at multiple locations in West Texas: Midland, Garden City and Colorado City. Permian Express 2 will have access to multiple SXL and third-party pipelines to provide producers the ability to reach various markets and refineries on the Gulf Coast and in the MidContinent.
“We are pleased to launch the Open Season for Permian Express 2,” said Michael J. Hennigan, president and chief executive officer. “We remain bullish on the Permian Basin’s growth. Crude oil production in this basin is projected to increase annually by approximately 200,000 barrels per day according to latest industry and consultant estimates. We are proceeding with the Open Season to determine market interest to develop this project to provide critical takeaway capacity to help producers and refiners deliver Permian crude oil to key markets. With the ability to reach multiple destinations, including our Nederland terminal, Permian Express 2 is a very attractive, flexible option for shippers.”
The Partnership will construct approximately 300 to 400 miles of new pipeline pending customer interest for various locations. The Permian Express 2 pipeline is anticipated to have an initial capacity of approximately 200,000 barrels per day and is expected to be operational in the second quarter of 2015.
The Open Season will commence on September 18, 2013. The Notice of Open Season will be available on the Sunoco Logistics website at www.sunocologistics.com/permianexpress2.More information about the Open Season is available by contacting: Christopher Martin281-637-6548 email@example.com ABOUT SUNOCO LOGISTICS Sunoco Logistics Partners L.P. (NYSE: SXL), headquartered in Philadelphia, is a master limited partnership that owns and operates a logistics business consisting of a geographically diverse portfolio of complementary crude oil & refined product pipeline, terminalling, and acquisition & marketing assets. SXL’s general partner is owned by Energy Transfer Partners, L.P. (NYSE: ETP).
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