EPIC Reaffirms Previously Announced Interim Crude Service Date and Permanent Crude Pipeline Completion Date
Continues to work constructively with all state and federal
agencies to receive necessary approvals in a timely manner
EPIC Midstream Holdings, LP (“EPIC” or “the Company”) today reaffirmed
that the EPIC Crude Oil Pipeline remains on schedule to begin interim
service from Crane, Texas to Corpus Christi, Texas, during the third
quarter of 2019. The project is expected to be in permanent service
beginning January 2020.
EPIC has secured 100% of the mainline right-of-way for the crude
pipeline and anticipates the initial 30” pipe delivery by the end of
January 2019. Construction of the 30” pipeline is expected to commence
shortly thereafter. All pipe has been ordered from domestic mills. EPIC
anticipates significant construction synergies between the Crude and
Natural Gas Liquids Pipeline given the same construction crews will be
utilized over the same right-of-way.
The Company continues to work diligently with all governmental
stakeholders and its shippers to ensure that all features of the project
comply with current policies. The Company is committed to addressing and
resolving any issues that may arise during the ongoing administrative
review process. EPIC does not foresee any obstacles to obtaining the
necessary approvals related to the 700-mile 30” crude pipeline
originating in Orla, Texas, with a terminus in Corpus Christi, Texas.
About EPIC Pipeline
EPIC was formed in 2017 to build, own,
and operate midstream infrastructure in both the Permian and Eagle Ford
Basins. EPIC’s first two projects, the EPIC Crude Oil Pipeline and the
EPIC NGL Pipeline, will transport crude and NGL across Texas for
delivery into the Corpus Christi market. The EPIC Pipelines are backed
by capital commitments from funds managed by the Private Equity Group of
Ares Management, L.P. (NYSE:ARES). For more information, visit www.epicmid.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190114005219/en/
Copyright Business Wire 2019
Source: Business Wire
(January 14, 2019 - 6:00 AM EST)
News by QuoteMedia
www.quotemedia.com