Magellan Midstream Partners, L.P. (NYSE: MMP) ("Magellan") and Plains All American Pipeline, L.P. (NYSE: PAA) ("Plains") announced that BridgeTex Pipeline Company, LLC ("BridgeTex"), owned 50/50 by Magellan and Plains, has extended its open season to assess additional customer interest in a new origin in Grimes County, Texas for the BridgeTex pipeline to accept Eaglebine crude oil and condensate shipments. While sufficient commitments have been received to proceed with the project, the extension provides other potential shippers additional time to make commitments. Binding commitments are now due by 5:00 p.m. Central Time on Feb. 15, 2016.
The new origin, to be located approximately 100 miles northwest of Houston, is expected to be operational in mid-2017.
The BridgeTex pipeline currently has a capacity of 300,000 barrels per day ("bpd") to deliver Permian Basin crude oil from Colorado City, Texas to the Houston Gulf Coast area. If warranted by customer demand, BridgeTex will expand the capacity of the pipeline system by approximately 35,000 bpd to provide transportation services from the new Grimes County origin to the Houston Gulf Coast area.
For customer inquiries or additional information about the open season, please contact Mark Daggett of Magellan at (918) 574-7022 or email@example.com.