New Pipeline Provides Additional Takeaway Capacity For Increasing Permian Basin Crude Oil Production
HOUSTON, Apr 15, 2013 (BUSINESS WIRE) — Plains All American Pipeline, L.P. today announced it is constructing the Cactus Pipeline, a new 310-mile, 20-inch crude oil pipeline from McCamey to Gardendale, Texas. The Cactus Pipeline is expected to be placed into service in the first quarter of 2015. The Partnership has entered into a letter of intent with a third party regarding a long-term commitment for a majority of the pipeline’s capacity and is in discussions with several potential shippers for the remaining capacity. The total project investment is expected to range from $350 million to $375 million.
The pipeline is expected to transport both sweet and sour crude oil from the Permian Basin to the PAA/Enterprise Products Partners Eagle Ford Joint Venture (Eagle Ford JV) Pipeline. The Eagle Ford JV Pipeline directly serves the Three Rivers and Corpus Christi markets and can supply the Houston-area market through a connection to the Enterprise South Texas Crude Oil Pipeline. Crude oil delivered on Cactus will have access to rail loading capacity at PAA’s Gardendale station and access to the Eagle Ford JV barge dock facility in the Corpus Christi area. The Cactus Pipeline will initially be designed to provide approximately 200,000 barrels-per-day of capacity and can be increased as demand warrants.
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. Through its general partner interest and majority equity ownership position in PAA Natural Gas Storage, L.P. owns and operates natural gas storage facilities. PAA is headquartered in Houston, Texas.
Forward Looking Statements
Certain matters discussed in this release are forward-looking statements that involve risks and uncertainties that could cause actual results or outcomes to differ materially from results or outcomes anticipated in the forward-looking statements. These risks and uncertainties include, among other things, shortages, cost increases or delays in receipt of supplies, materials or labor; inability to obtain, delays in the receipt of, or other issues associated with necessary licenses, permits, approvals, consents, rights of way or other governmental or third party requirements; the impact of current and future laws, rulings, orders, governmental regulations, accounting standards and statements and related interpretations; weather interference with business operations or project construction; environmental liabilities, issues or events that result in construction delays or otherwise impact targeted in-service dates; interruptions in service on third-party pipelines or facilities; general economic, market or business conditions and the amplification of other risks caused by volatile financial markets, capital constraints and pervasive liquidity concerns; and other factors and uncertainties inherent in the transportation, storage, terminalling and marketing of crude oil and refined products as discussed in the Partnership’s filings with the Securities and Exchange Commission.
SOURCE: Plains All American Pipeline, L.P.
If your property is in jeopardy of being condemned because of this project or another pipeline, transmission line, road or other condemnation project, you must act now! Braun & Gresham, PLLC represents landowners in the condemnation process and will work diligently to protect your property, minimize impact, and ensure just compensation for damages.
Land isn’t renewable so it’s important that you protect your land: contact Machelle Knight at 512-894-5426 to arrange a free 30 minute consultation with one of our property rights professionals.