Pipeline Story Out Of North Dakota -- June 24, 2014

Updates

 December 12, 2014: EPD cancels 1,200-mile pipeline from Stanley, ND, to Cushing, OK.

Original Post 

This is pretty cool. Reuters is reporting at Yahoo!Finance:

North Dakota intends to nearly double its pipeline capacity within two years as part of a plan to curb the wasteful flaring of natural gas in the bustling Bakken oil field, the state's governor said on Tuesday.

While oil production has more than tripled in the past decade to 1 million barrels of oil equivalent (boepd) per day, making North Dakota the fastest-growing economy in the United States, the pipeline network for transporting natural gas has lagged.

Aiming to change that, Governor Jack Dalrymple said the state wants pipeline capacity to increase to 1.4 million boepd by 2016, up from roughly 780,000 boepd currently.

"We will reduce flaring," the governor told executives, regulators and investors at a pipeline summit he hosted in the state's capital. "It's just that simple."

And who better to answer the call? EPD. Reuters over at Yahoo!Finance is also reporting:

Enterprise Products Partners LP said on Tuesday it would build a 1,200-mile pipeline from North Dakota's Bakken oil fields to Cushing, OK.

The pipeline, Enterprise's first in North Dakota, would help transport more of the state's crude oil to Cushing, a key gathering and distribution hub for oil produced around the United States.

The pipeline would originate in Stanley, North Dakota, and be 30 inches in diameter. It will have a daily capacity of 340,000 barrels of oil and should be online by the end of 2016, said Brent Secrest, vice president of onshore crude oil, pipelines and terminals for Enterprise.

Before pulling back slightly at the end of the day, EPD traded at a new 52-week high. It yields almost 4%; for long-term investors, it's return is much, much higher.

Disclaimer: this is not an investment site. Do not make any investment decision based on what you read here or what you think you may have read here. 

In "actual dollars and cents" a lot of shares lost quite a bit, but the overall market was down less than a percent.