American Midstream Announces Dakota Access Connection Agreement Expanding Bakken Presence
American
Midstream Partners, LP (NYSE: AMID) (“Partnership” or “AMID”) today
announced it has entered a connection agreement with Dakota Access
Pipeline (“DAPL”), the 1,172-mile 30-inch pipeline that extends from the
Partnership’s Bakken formation production area in North Dakota to
Patoka, Illinois.
The new DAPL interconnect will tie into the Partnership’s Bakken crude
oil gathering system which consists of interstate pipelines with
capacity to transport up to approximately 40,000 barrels per day of
crude oil. In addition, the Partnership’s Bakken crude oil gathering
system has crude oil trucking capabilities located near Watford City, ND
that provides greater producer access to market alternatives and
off-take capabilities. AMID recently added hydrogen sulfide treating to
its Bakken system allowing customers to meet pipeline specifications for
crude oil delivery thereby expanding customer service offerings and the
competitive footprint of the system. Leveraging off the recent additions
to the Partnership’s system and the new connection to DAPL, AMID will be
able to deliver an incremental 20,000 barrels per day to market.
“This new interconnect with DAPL is a continuation of our strategy to
optimize the long-term value of our assets by providing producers a
suite of services that include gathering and processing with strong
market connectivity via multiple pipeline takeaway points,” said Lynn L.
Bourdon, President and Chief Executive Officer. “Through the expansion
of our services and our ability to increase the value of our gathering
infrastructure, the Partnership has been able to capitalize on a
strategic asset that increases optionality and additional takeaway
points for our customers.”
About American Midstream Partners, LP
American Midstream Partners, LP is a growth-oriented limited partnership
formed to provide critical midstream infrastructure that links producers
of natural gas, crude oil, NGLs, condensate and specialty chemicals to
end-use markets. AMID’s assets are strategically located in some of the
most prolific onshore and offshore basins in the Permian, Eagle Ford,
East Texas, Bakken and Gulf Coast. AMID owns or has an ownership
interest in more than 3,850 miles of interstate and intrastate
pipelines, as well as ownership in gas processing plants, fractionation
facilities, an offshore semisubmersible floating production system with
nameplate processing capacity of 80 MBbl/d of crude oil and 200 MMcf/d
of natural gas; and marine terminal sites with approximately 2.4 MMBbls
of storage capacity.
For more information about American Midstream Partners, LP, visit www.americanmidstream.com.
Forward Looking Statements
This press release includes forward-looking statements. These
statements relate to, among other things, projections of operational
volumetrics and improvements, growth projects, cash flows and capital
expenditures. We have used the words “anticipate,” “believe,” “could,”
“estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,”
“should,” “will,” “potential,” and similar terms and phrases to identify
forward-looking statements in this press release. Although we believe
the assumptions upon which these forward-looking statements are based
are reasonable, any of these assumptions could prove to be inaccurate
and the forward-looking statements based on these assumptions could be
incorrect. Actual results and trends in the future may differ materially
from those suggested or implied by the forward-looking statements
depending on a variety of factors, which are described in greater detail
in our filings with the SEC. Please see “Risk Factors” and other
disclosures included in our Annual Report on Form 10-K for the year
ended December 31, 2015 filed on March 7, 2016, our Form 10-Q for the
quarter ended September 30, 2016, filed on November 08, 2016, and our
other filings with the SEC. All future written and oral forward-looking
statements attributable to us or persons acting on our behalf are
expressly qualified in their entirety by the previous statements. The
forward-looking statements herein speak as of the date of this press
release. We undertake no obligation to update any information contained
herein or to publicly release the results of any revisions to any
forward-looking statements that may be made to reflect events or
circumstances that occur, or that we become aware of, after the date of
this press release.
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