EPIC Pipeline Company LLC announced a 45-day open season to obtain commitments for its new pipeline that will transport crude oil and condensate from the Permian Basin to Corpus Christi, Texas. The EPIC Pipeline will have multiple receipt points in the western part of the Permian Basin, providing access to producers in both the Delaware and Midland basins.
The 730-mile EPIC Pipeline will comprise 16-, 20-, 24- and 30-inch pipeline with capacity of delivering 440,000 barrels per day (MMbbl/d) of crude and condensate from the Delaware and Midland basins to the Corpus Christi market area. EPIC anticipates that the open season will only be for the first 200 MMbbl/d of space on the pipeline.
The company may hold a second open season but rates may change. A second open season may also include takeaway capacity from intermediate points on the line between the Permian Basin and Corpus Christi that would allow access for production from the Eagle Ford Shale.
The EPIC Pipeline project includes at least four receipt points for crude oil and condensate in Texas including Orla, Pecos, Crane and Midland. Crude oil delivery points will include connectivity to an EPIC affiliate’s marine terminal on the Corpus Christi Inner Harbor as well as additional destinations in the Taft and Corpus Christi area.
EPIC expects the pipeline to be operational in first-quarter 2019.
EPIC is being sponsored by TexStar Midstream Logistics L.P., Castleton Commodities International LLC, and Ironwood Midstream Energy Partners LLC.
“TexStar and its partners are excited to extend our business into the Permian Basin, where we see tremendous opportunity and continued growth,” Phil Mezey, CEO of TexStar’s general partner, said in a statement. “TexStar has a proven track record of building crude oil pipelines in emerging areas and looks forward to expanding upon its relationships with producers to make the project a success.”
This open season began March 1, 2017 and will conclude on April 15.
Recommended Reading
Baker Hughes Awarded Saudi Pipeline Technology Contract
2024-04-23 - Baker Hughes will supply centrifugal compressors for Saudi Arabia’s new pipeline system, which aims to increase gas distribution across the kingdom and reduce carbon emissions
ProPetro Reports Material Weakness in Financial Reporting Controls
2024-03-14 - ProPetro identified a material weakness in internal controls over financial reporting, the oilfield services firm said in a filing.
Greenbacker Names New CFO, Adds Heads of Infrastructure, Capital Markets
2024-02-02 - Christopher Smith will serve as Greenbacker’s new CFO, and the power and renewable energy asset manager also added positions to head its infrastructure and capital markets efforts.
Stockholder Groups to Sell 48.5MM of Permian Resources’ Stock
2024-03-06 - A number of private equity firms will sell about 48.5 million shares of Permian Resources Corp.’s Class A common stock valued at about $764 million.
TC Energy Appoints Sean O’Donnell as Executive VP, CFO
2024-04-03 - Prior to joining TC Energy, O’Donnell worked with Quantum Capital Group for 13 years as an operating partner and served on the firm’s investment committee.