Thursday, June 26, 2014

Another Bakken Pipeline Announced -- Energy Transfer Partners; 1,100 Miles, North Dakota To Patoka, IL

Earlier today I posted a long note, a part of which:
Motley Fool has an article on EPD's plan to build a "Bakken-to-Cushing" pipeline but it's pretty much an advertisement for their newsletter. This is all it says about the question whether EPD will succeed:
It won't be easy, as most oil and gas producers in the region are more interested moving oil to the East and West coasts than to the storage hub in Cushing. However, there are a couple things working in Enterprise's' favor this time. Tune into the video below to find out why Enterprise may have a leg up on ONEOK and Energy Transfer Partners this time, as well as the challenges Enterprise will face in this endeavor.
Now this, from The Dickinson Press later today:
Energy Transfer Partners announced this week it has commitments from shippers to move forward with an 1,100-mile crude oil pipeline from North Dakota to Patoka, IL.
The Bakken Pipeline would transport 320,000 barrels of Bakken oil per day to Illinois, where shippers would be able to access markets in the Midwest or connect with markets on the East Coast or Gulf Coast.
The announcement comes on the heels of Gov. Jack Dalrymple’s Pipeline Summit, during which he said the state’s crude oil pipeline capacity is expected to hit 1.4 million barrels of crude per day by the end of 2016, more than double the current capacity.
Zack's article on same story:
Energy Transfer Partners LP has received approval from its board of directors to manufacture a roughly 1,100-mile pipeline (Bakken Pipeline). The publicly traded energy pipeline operator will transport crude oil from the oil producing region in the Bakken shale to Patoka, IL. Bakken Pipeline will thereafter join the partnership’s existing Trunkline Pipeline (Trunkline).  
Energy Transfer Partners added that the shippers will get the opportunity to access the Midwest and East Coast markets by transporting crude from Patoka via rail. The shippers can also use the Trunkline to carry crude to the Gulf Coast market and Sunoco Logistics Partners LP’s crude oil terminal at Nederland, TX.  

No comments:

Post a Comment