TEXSTAR MIDSTREAM SERVICES, LP LAUNCHES BINDING OPEN SEASON FOR THE TEXSTAR CRUDE OIL PIPELINE

abarrelfullabarrelfull wrote on 15 Dec 2011 07:15
Tags: midstream oil pipeline shale texstar

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TexStar Midstream Services, LP today launched a binding open season to obtain firm commitments from interested parties for the TexStar Crude Oil Pipeline, LP to transport crude oil and condensate from various points located in Frio, LaSalle, McMullen and Live Oak Counties in Texas to NuStar’s North Beach Terminal in Corpus Christi, Texas.

TexStar is building and will operate a new 110-mile pipeline comprised of 12-inch and 8-inch diameter pipe that will have the capacity to move 100,000 barrels per day of crude and condensate from Frio, LaSalle and McMullen counties to Oakville, Texas, where TexStar plans to lease a portion of NuStar Logistics, L.P.’s 16-inch pipeline to move crude and condensate from Oakville to NuStar’s Corpus Christi Terminal.

The North Beach Terminal has approximately 2 million barrels of storage capacity and NuStar is actively developing expansion opportunities to increase its marine loading capabilities and to provide pipeline deliveries to the local markets. The North Beach Terminal will be capable of loading ocean going barges and ships.

In addition, approximately 1 million barrels of new tankage and truck unloading facilities will also be built along the pipeline system with the ability to add additional storage in the future as the need develops. “We are excited to move this project to final regulatory approval and construction completion,” said Phil Mezey, co-CEO and Chief Operating Officer of TexStar’s general partner. “Full operation of this crude and condensate system is expected by summer of 2012.”

Following the completion of the open season, which closes at 12 p.m. (Central) on January 20, 2012 and subject to receipt of sufficient contractual commitments from shippers, TexStar intends to proceed with the final regulatory approvals and prepare for full operation to provide transportation services of Eagle Ford crude and condensate to Corpus Christi.

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