Saddlehorn to add new pipeline extension

Source:Magellan Midstream Partners, L.P.

Saddlehorn to add new pipeline extension

Saddlehorn Pipeline Company, LLC ("Saddlehorn") announced today that the Saddlehorn Pipeline system will extend to Carr, CO. The 50-mile pipeline extension from Platteville to Carr, which is anticipated to be constructed with 16-inch diameter pipe, will provide a connection to existing crude oil assets in that region. This extension has been designed to provide shippers with flexible options and streamlined access into the Saddlehorn Pipeline system.

Saddlehorn is a limited liability company owned by Magellan Midstream Partners, L.P. (MMP) ("Magellan"), Plains All American Pipeline, L.P. (PAA) ("Plains") and Anadarko Petroleum Corporation (APC). Saddlehorn will construct, own and operate the approximately 600-mile pipeline (including the Carr extension) that will transport various grades of crude oil from the DJ Basin, and potentially the broader Rocky Mountain and Bakken area resource plays, to storage facilities in Cushing, OK owned by Magellan and Plains. The 20-inch pipeline from Platteville to Cushing ultimately has the capacity to transport up to 400,000 barrels per day (bpd), with the initial capacity expected to be closer to 200,000 bpd.

The Carr extension project is currently estimated to cost between $80 million and $100 million. Magellan will serve as construction manager and operator of the Saddlehorn Pipeline system. Subject to receipt of necessary permits and regulatory approvals, the Platteville to Cushing pipeline is expected to be operational during mid-2016 and the extension to Carr is anticipated to be in service by the end of 2016. 

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