Tallgrass Receives Pony Express Abandonment Order from the Federal Energy Regulatory Commission

abarrelfullabarrelfull wrote on 05 Nov 2014 09:06

September 13, 2013

Tallgrass Energy Partners, LP (NYSE:TEP) ("Tallgrass") today announced that its subsidiary Tallgrass Interstate Gas Transmission has received the Pony Express Abandonment Order from the Federal Energy Regulatory Commission (“FERC”). The abandonment encompasses an approximately 430-mile section of natural gas pipeline from Guernsey, Wyoming to Lincoln County, Kansas, which is currently part of the Tallgrass Interstate Gas Transmission system.

The Abandonment Order contains certain customary conditions precedent and is subject to FERC procedural rules and regulations, including the right to rehearing. Once the abandonment is complete, the 430-mile section of pipe will be converted and sold to a subsidiary of Tallgrass Development, LP. In conjunction with the conversion, Tallgrass Development, LP is also constructing a 260-mile extension from Lincoln County, Kansas to Cushing, Oklahoma. Upon completion of the conversion, transfer and new construction, the 690-mile Tallgrass Pony Express Pipeline (a subsidiary of Tallgrass Development, LP) will transport domestic light crude from the Bakken Shale, Denver-Julesburg and surrounding areas to Cushing, Oklahoma.

“This is an important step in the process of the development of a key asset for Tallgrass and we are very pleased to have received the order from the FERC,” said Tallgrass’ President and CEO David Dehaemers. “We will continue to move forward with the project and currently expect the pipeline to begin transporting crude in the third quarter of 2014.”

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