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TULSA, Okla., May 24, 2018 (GLOBE NEWSWIRE) -- SemGroup® Corporation (NYSE:SEMG) and DCP Midstream, LP (NYSE:DCP) today announced a binding open season for natural gas liquids (NGL) transportation service on the White Cliffs Pipeline and Southern Hills Pipeline, which will connect Weld County, Colorado to Mont Belvieu, Texas. The project is expected to be in service in the fourth quarter of 2019 and will provide DJ Basin customers with increased NGL takeaway capacity and open access to the Texas Gulf Coast markets.
SemGroup recently announced it is converting a portion of the White Cliffs Pipeline system to NGL Y-grade service connecting the DJ Basin to Cushing, Oklahoma. To complete the project, DCP Midstream will construct a 25-mile pipeline in the DJ Basin, connecting its system to White Cliffs, and SemGroup will construct a 12-mile extension of White Cliffs Pipeline south of Cushing to interconnect with Southern Hills Pipeline. The project is backstopped by 10-year agreements with DCP Midstream, LP and its affiliate DCP Southern Hills Pipeline, LLC. SemGroup owns 51 percent of White Cliffs Pipeline and is the operator. DCP owns 66 percent of Southern Hills Pipeline and is the operator.
Shippers will move product under a published joint tariff between the two carriers. The open season is being held to provide prospective shippers an opportunity to receive discount transportation rates in exchange for long-term volume commitments. Open Season will begin at 5 p.m. Central Time on May 24, 2018, and will conclude at 5 p.m. Central Time on June 25, 2018.
Prospective shippers should contact Grant Najera, Commercial Asset Manager for SemGroup, at 918-524-8525, or email@example.com, or Brittany Wright, NGL Business Development for DCP Midstream, at 713-735-3657 or firstname.lastname@example.org.
SemGroup® Corporation (NYSE:SEMG) moves energy across North America through a network of pipelines, processing plants, refinery-connected storage facilities and deep-water marine terminals with import and export capabilities. SemGroup serves as a versatile connection between upstream oil and gas producers and downstream refiners and end users. Key areas of operation and growth include western Canada, the Mid-Continent and the Gulf Coast. SemGroup is committed to safe, environmentally sound operations. Headquartered in Tulsa, Okla., the company has additional offices in Calgary, Alberta; Platteville, Colo.; and Channelview, Texas.
SemGroup uses its Investor Relations website and social media outlets as channels of distribution of material company information. Such information is routinely posted and accessible on our Investor Relations website at www.semgroupcorp.com, our Twitter account and LinkedIn account.
About DCP Midstream, LP
DCP Midstream, LP (NYSE:DCP) is a midstream master limited partnership, with a diversified portfolio of assets, engaged in the business of gathering, compressing, treating, processing, transporting, storing and selling natural gas; and producing, fractionating, transporting, storing and selling NGLs and recovering and selling condensate. DCP owns and operates 60 plants and more than 60,000 miles of natural gas and natural gas liquids pipelines, with operations in 17 states across major producing regions, and leads the midstream segment as one of the largest natural gas liquids producers and marketers and one of the largest natural gas processors in the U.S. Denver, Colorado based DCP is managed by its general partner, DCP Midstream GP, LP, which is managed by its general partner, DCP Midstream GP, LLC, which is 100% owned by DCP Midstream, LLC. DCP Midstream, LLC is a joint venture between Enbridge and Phillips 66. For more information, visit the DCP Midstream, LP website at www.dcpmidstream.com.
Certain matters contained in this Press Release include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995.
All statements, other than statements of historical fact, included in this Press Release may constitute forward-looking statements. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot assure you that these expectations will prove to be correct. These forward-looking statements are subject to certain known and unknown risks and uncertainties, as well as assumptions that could cause actual results to differ materially from those reflected in these forward-looking statements. Factors that might cause actual results to differ include the risk factors discussed from time to time in each of our documents and reports filed with the SEC.
Readers are cautioned not to place undue reliance on any forward-looking statements contained in this Press Release, which reflect management’s opinions only as of the date hereof. Except as required by law, we undertake no obligation to revise or publicly release the results of any revision to any forward-looking statements.
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Source: SemGroup Corp.