Plains All American Pipeline, L.P. (NYSE: PAA) and Enterprise Products Partners L.P. (NYSE: EPD) today announced they have agreed to expand their Eagle Ford Joint Venture (JV) crude oil pipeline. The expansion will increase the pipeline’s capacity to 470,000 barrels per day of light and medium crude oil grades to accommodate additional volumes expected from PAA’s Cactus pipeline that is currently under construction. The Eagle Ford JV pipeline expansion is expected to cost approximately $120 million and is expected to be in service in the second quarter of 2015.
The Eagle Ford JV Pipeline system, most of which is currently in service and expected to be completed by September 30, 2013, is a 50/50 joint venture between Plains and Enterprise that serves the Three Rivers and Corpus Christi refineries and other markets via marine transport facilities at Corpus Christi. The pipeline supplies the Houston-area market through a connection to the Enterprise Crude Pipeline terminal at Lyssy in Wilson County, Texas. The pipeline expansion will be completed in stages that include adding pumping capacity and looping certain segments of the existing system. The expansion also includes constructing an additional 2.3 million barrels of operational storage capacity in Gardendale, Tilden and Corpus Christi.
The Cactus Pipeline is being constructed by PAA from McCamey, Texas in the Permian Basin area to Gardendale in La Salle County, Texas. The pipeline will have an initial capacity of 200,000 barrels per day and is expected to be in service in the second quarter of 2015.
For additional commercial information on the Eagle Ford JV pipeline, please contact:Bill Keener, Director Pipeline Business Development at Plains All American, 713-993-5144.Plains All American Pipeline, L.P. is a publicly traded master limited partnership engaged in the transportation, storage, terminalling and marketing of crude oil and refined products, as well as in the processing, transportation, fractionation, storage and marketing of natural gas liquids. Though its general partner interest and majority equity ownership position in PAA Natural Gas Storage, L.P. (NYSE: PNG), PAA owns and operates natural gas storage facilities. PAA is headquartered in Houston, Texas.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV