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SemGroup and DCP Midstream Announce Open Season on Existing Capacity of NGL Pipeline Connecting DJ Basin to Mont Belvieu
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 firstname.lastname@example.org, or Brittany Wright, NGL Business Development for DCP Midstream, at 713-735-3657 or email@example.com.
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
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.
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