Open Season Underpinned by Executed Precedent Agreements to Expand
Bakken Pipeline Above 450,000 Barrels Per Day
Adds Cushing Hub as Delivery Option
DALLAS--(BUSINESS WIRE)--Sep. 22, 2014--
Energy Transfer Partners, L.P. (NYSE: ETP) today announced
the launch of a binding Expansion Open Season to assess additional
interest in transportation service on the Dakota Access Pipeline
(“DAPL”) and Energy Transfer Crude Oil Pipeline (“ETCOP”).
The Expansion Open Season is backed by executed precedent agreements
that support an expansion of DAPL from the previously announced 320,000
barrels per day (“bpd”) to a capacity in excess of 450,000 bpd. Subject
to the terms and conditions of the Expansion Open Season, potential
shippers will have the opportunity to secure transportation service from
strategic receipt points in the Bakken/Three Forks production area in
North Dakota to key refinery and terminalling hubs in the Midwest and
Gulf Coast. Separately, potential shippers will have the opportunity to
secure transportation service from the Bakken/Three Forks production
area to the Cushing hub in Oklahoma.
The binding Expansion Open Season will commence at 12:00 p.m. Central
Time on September 23, 2014. Bona fide potential shippers that would like
to receive copies of the open season documents, the throughput and
deficiency agreement and proposed tariffs must first sign a
confidentiality agreement. More information about the binding open
season will be available on the ETP web site by accessing www.energytransfer.com/ops_copp.aspx
upon commencement of the open season, or via e-mail at dlDA_ETCO@energytransfer.com.
Energy Transfer Partners, L.P. (NYSE: ETP) is a master limited
partnership owning and operating one of the largest and most diversified
portfolios of energy assets in the United States. ETP currently owns and
operates approximately 35,000 miles of natural gas and natural gas
liquids pipelines. ETP owns 100% of Panhandle Eastern Pipe Line Company,
LP (the successor of Southern Union Company) and Sunoco, Inc., and a 70%
interest in Lone Star NGL LLC, a joint venture that owns and operates
natural gas liquids storage, fractionation and transportation assets.
ETP also owns the general partner, 100% of the incentive distribution
rights, and approximately 67.1 million common units in Sunoco Logistics
Partners L.P. (NYSE: SXL), which operates a geographically diverse
portfolio of crude oil and refined products pipelines, terminalling and
crude oil acquisition and marketing assets. ETP’s general partner is
owned by ETE. For more information, visit the Energy Transfer Partners,
L.P. web site at www.energytransfer.com.
Energy Transfer Equity, L.P. (NYSE: ETE) is a master
limited partnership which owns the general partner and 100% of the
incentive distribution rights (IDRs) of Energy Transfer Partners, L.P.
(NYSE: ETP), approximately 30.8 million ETP common units, and
approximately 50.2 million ETP Class H Units, which track 50% of the
underlying economics of the general partner interest and the IDRs of
Sunoco Logistics Partners L.P. (NYSE: SXL). ETE also owns the general
partner and 100% of the IDRs of Regency Energy Partners LP (NYSE: RGP)
and approximately 57.2 million RGP common units. The Energy Transfer
family of companies owns approximately 71,000 miles of natural gas,
natural gas liquids, refined products, and crude oil pipelines. For more
information, visit the Energy Transfer Equity, L.P. web site at www.energytransfer.com.
Forward-Looking Statements
This press release may include certain statements concerning
expectations for the future that are forward-looking statements as
defined by federal law. Such forward-looking statements are subject to a
variety of known and unknown risks, uncertainties, and other factors
that are difficult to predict and many of which are beyond management’s
control. An extensive list of factors that can affect future results are
discussed in the Partnership’s Annual Reports on Form 10-K and other
documents filed from time to time with the Securities and Exchange
Commission. The Partnership undertakes no obligation to update or revise
any forward-looking statement to reflect new information or events.
The information contained in this press release is available on our web
site at www.energytransfer.com.
Source: Energy Transfer
Investor Relations:
Energy Transfer
Brent Ratliff,
214-981-0700
or
Media Relations:
Granado
Communications Group
Vicki Granado, 214-599-8785
Cell:
214-498-9272