Cushing, Oklahoma

Magellan and Enterprise Team up With Intercontinental Exchange for New Houston Crude Oil Futures Contract

Retrieved on: 
Monday, June 21, 2021

Magellan Midstream Partners, L.P. (NYSE: MMP), Enterprise Products Partners L.P. (NYSE: EPD) and Intercontinental Exchange, Inc. (NYSE: ICE) today announced the establishment of a new futures contract for the physical delivery of crude oil in the Houston area.

Key Points: 
  • Magellan Midstream Partners, L.P. (NYSE: MMP), Enterprise Products Partners L.P. (NYSE: EPD) and Intercontinental Exchange, Inc. (NYSE: ICE) today announced the establishment of a new futures contract for the physical delivery of crude oil in the Houston area.
  • The quality specifications of the new futures contract will be consistent with a West Texas Intermediate (WTI) crude oil originating from the Permian Basin with common delivery options at either the Magellan East Houston (MEH) terminal or the Enterprise Crude Houston (ECHO) terminal.
  • Magellan is pleased to join forces with Enterprise and ICE to offer this leading-edge joint futures contract, said Aaron Milford, Magellans chief operating officer.
  • The new contract improves the transparency, flexibility and marketability of Midland WTI crude oil for Gulf Coast and export customers while maintaining industry-recognized quality and consistency.

Magellan and Enterprise Team Up With Intercontinental Exchange for New Houston Crude Oil Futures Contract

Retrieved on: 
Monday, June 21, 2021

Magellan Midstream Partners, L.P. (NYSE: MMP), Enterprise Products Partners L.P. (NYSE: EPD) and Intercontinental Exchange, Inc. (NYSE: ICE) today announced the establishment of a new futures contract for the physical delivery of crude oil in the Houston area.

Key Points: 
  • Magellan Midstream Partners, L.P. (NYSE: MMP), Enterprise Products Partners L.P. (NYSE: EPD) and Intercontinental Exchange, Inc. (NYSE: ICE) today announced the establishment of a new futures contract for the physical delivery of crude oil in the Houston area.
  • View the full release here: https://www.businesswire.com/news/home/20210621005190/en/
    The quality specifications of the new futures contract will be consistent with a West Texas Intermediate (WTI) crude oil originating from the Permian Basin with common delivery options at either the Magellan East Houston (MEH) terminal or the Enterprise Crude Houston (ECHO) terminal.
  • In support of this new futures contract, Magellan and Enterprise anticipate discontinuing their existing provisions for delivery services under the current futures contracts deliverable at each terminal once the new contract receives regulatory approval and is finalized.
  • Magellan is pleased to join forces with Enterprise and ICE to offer this leading-edge joint futures contract, said Aaron Milford, Magellans chief operating officer.

Fortress Transportation and Infrastructure LLC and Jefferson Energy Companies Announce the Successful Completion of the Paline Pipeline

Retrieved on: 
Tuesday, May 25, 2021

NEW YORK, May 25, 2021 (GLOBE NEWSWIRE) -- Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI) and Jefferson Energy Companies (Jefferson Energy) are pleased to announce the successful completion of the Paline pipeline interconnection project.

Key Points: 
  • NEW YORK, May 25, 2021 (GLOBE NEWSWIRE) -- Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI) and Jefferson Energy Companies (Jefferson Energy) are pleased to announce the successful completion of the Paline pipeline interconnection project.
  • This project consisted of constructing approximately five miles of new 10-inch pipeline connecting the Paline pipeline into the Jefferson Energy terminal.
  • The interconnection allows for ratable and efficient light crude oil pipeline movements from Cushing, Oklahoma to the Jefferson Energy terminal in Beaumont, Texas.
  • DKL is pleased to provide its Paline Pipeline Shippers with another delivery location in the Jefferson Energy terminal in Beaumont, Texas.

Energy Transfer and Centurion Pipeline to Provide Joint Tariff Crude Oil Service From Platteville and Cushing to Nederland

Retrieved on: 
Thursday, April 1, 2021

Energy Transfer LP (NYSE: ET) and Centurion Pipeline L.P. ("Centurion") announced today that they will post a joint tariff for crude oil transportation service from ETs terminals in Platteville, Colorado and Cushing, Oklahoma to ETs Nederland, Texas terminal.

Key Points: 
  • Energy Transfer LP (NYSE: ET) and Centurion Pipeline L.P. ("Centurion") announced today that they will post a joint tariff for crude oil transportation service from ETs terminals in Platteville, Colorado and Cushing, Oklahoma to ETs Nederland, Texas terminal.
  • View the full release here: https://www.businesswire.com/news/home/20210401005923/en/
    The joint tariff service utilizes existing ET and Centurion pipeline assets that will be linked together via new connections in Oklahoma.
  • The joint tariff service is expected to commence service by June 1, 2021.
  • The joint tariff service may also be expanded to include an origin point of Guernsey, Wyoming.

Pony Express Pipeline Announces Open Season for Transportation

Retrieved on: 
Wednesday, March 31, 2021

Tallgrass Pony Express Pipeline, LLC (Pony Express), a subsidiary of Tallgrass Energy, LP, today announced a binding open season soliciting shipper commitments for crude oil transportation from Pony Express Guernsey, Platteville and Buckingham origins to destinations in Cushing, Okla., in exchange for volume incentive tariff rates.

Key Points: 
  • Tallgrass Pony Express Pipeline, LLC (Pony Express), a subsidiary of Tallgrass Energy, LP, today announced a binding open season soliciting shipper commitments for crude oil transportation from Pony Express Guernsey, Platteville and Buckingham origins to destinations in Cushing, Okla., in exchange for volume incentive tariff rates.
  • To learn more about Tallgrass Energy, please visit us at www.tallgrassenergy.com .
  • Disclosures in this press release contain forward-looking statements.
  • All statements, other than statements of historical facts, included in this press release that address activities, events or developments that management expects, believes or anticipates will or may occur in the future are forward-looking statements.

Centurion Pipeline L.P. Announces Augustus Pipeline Is in Service

Retrieved on: 
Tuesday, January 26, 2021

Centurion Pipeline L.P. (Centurion) has announced that the Augustus Pipeline commenced service on schedule, December 1, 2020.

Key Points: 
  • Centurion Pipeline L.P. (Centurion) has announced that the Augustus Pipeline commenced service on schedule, December 1, 2020.
  • The 20/18 Augustus Pipeline provides true physical connectivity for WTI, WTL and WTSR from Midland, Texas, to Crane, Texas.
  • View the full release here: https://www.businesswire.com/news/home/20210126005172/en/
    The Augustus Pipeline origination station, newly constructed at Centurion Pipeline's tank farm in Midland, Texas.
  • Centurion Pipeline L.P. is a crude oil pipeline operator that owns and operates approximately 3,000 miles of pipeline extending from southeast New Mexico across the Permian Basin of West Texas to Cushing, Oklahoma.

Centurion Pipeline L.P. Announces a December 1, 2020 In-Service Date for Augustus Pipeline

Retrieved on: 
Tuesday, October 6, 2020

Centurion Pipeline L.P. (Centurion) today announced that the Augustus Pipeline is on schedule and expected to commence service on December 1, 2020.

Key Points: 
  • Centurion Pipeline L.P. (Centurion) today announced that the Augustus Pipeline is on schedule and expected to commence service on December 1, 2020.
  • The 20/18 Augustus Pipeline provides true physical connectivity for WTI, WTL, and WTSR from Midland, Texas to Crane, Texas.
  • The Augustus Pipeline connects Centurions existing Midland Terminal, which currently has approximately 2 million barrels of storage capacity, to multiple long-haul pipelines originating at Crane, Texas.
  • Centurion Pipeline L.P. is a crude oil pipeline operator that owns and operates approximately 3,000 miles of pipeline extending from southeast New Mexico across the Permian Basin of West Texas to Cushing, Oklahoma.

Navigator Launches Binding Open Season for Its Borger Express Pipeline System

Retrieved on: 
Monday, October 5, 2020

Navigator Borger Express LLC , an affiliated company of Navigator Energy Services (Navigator), announced today the launch of a binding open season on its Borger Express pipeline system (Borger Express), to provide shippers the opportunity to secure crude oil transportation services from Cushing, Oklahoma to Borger, Texas.

Key Points: 
  • Navigator Borger Express LLC , an affiliated company of Navigator Energy Services (Navigator), announced today the launch of a binding open season on its Borger Express pipeline system (Borger Express), to provide shippers the opportunity to secure crude oil transportation services from Cushing, Oklahoma to Borger, Texas.
  • Prior to participating in the open season, interested parties must execute a confidentiality agreement to govern the receipt of the open season documentation.
  • All potential shippers must submit binding commitments for service on the Borger Express pipeline by 12:00 p.m. Central Standard Time on November 5, 2020.
  • The Borger Express pipeline will provide the new services by utilizing approximately 180 miles of an existing crude oil pipeline, and constructing nearly 200 miles of new, 16-inch diameter pipeline from Cleo Springs, Oklahoma to Borger.

Argus launches new benchmark for growing US crude oil hub

Retrieved on: 
Friday, June 26, 2020

HOUSTON, June 26, 2020 /PRNewswire/ --Global commodity pricing agency Argus has launched a new outright daily crude price assessment Argus AGS (American GulfCoast Select) to reflect the growing importance of the US Gulf coast as a major export hub.

Key Points: 
  • HOUSTON, June 26, 2020 /PRNewswire/ --Global commodity pricing agency Argus has launched a new outright daily crude price assessment Argus AGS (American GulfCoast Select) to reflect the growing importance of the US Gulf coast as a major export hub.
  • The US' long-time futures-based crude benchmark, Nymex light sweet crude is more closely linked to inland markets as it is delivered on expiry into the landlocked Cushing, Oklahoma, storage and trading hub.
  • From today, it will be published daily in the Argus Crude and Argus Americas Crude reports, both as an outright price and as a differential against Nymex light sweet crude.
  • We are incredibly excited to launch the Argus AGS marker, which represents an outright price on the US Gulf coast."

Seaway to Extend Open Season

Retrieved on: 
Wednesday, February 12, 2020

Seaway Crude Pipeline Company LLC (Seaway) today announced an extension of a binding open season currently under way for committed service on expansion capacity of its system originating in Cushing, Oklahoma and extending to the Texas Gulf Coast.

Key Points: 
  • Seaway Crude Pipeline Company LLC (Seaway) today announced an extension of a binding open season currently under way for committed service on expansion capacity of its system originating in Cushing, Oklahoma and extending to the Texas Gulf Coast.
  • Seaway is also considering shipper feedback on the open season terms and may adapt the terms to allow for the inclusion of additional crude types, among other modifications.
  • Seaway will promptly inform all interested shippers with open season documents of any changes, as well as provide notice 30 days prior to the new close.
  • The final capacity for committed and uncommitted service would be determined during the open season.