American Midstream Launches Open Season for Bakken Crude Oil Gathering System in McKenzie County, North Dakota

abarrelfullabarrelfull wrote on 15 Jun 2015 05:38

American Midstream Partners, LP (NYSE:AMID) (the “Partnership”) announced today that American Midstream Bakken, LLC, a wholly-owned subsidiary of the Partnership, is conducting a binding open season for a proposed approximately 50-mile Bakken crude oil gathering and transportation system in the core of McKenzie County, North Dakota (the “Bakken System”) to transport up to 40,000 barrels per day (Bbl/d) of crude oil for delivery to major intrastate and interstate pipeline systems beginning in June 2015. As proposed, the Bakken System will have initial transportation capacity up to approximately 15,000 Bbl/d with the ability to expand up to approximately 40,000 Bbl/d.

During the binding open season, potential shippers have the opportunity to obtain crude oil transportation service on the Bakken System on a committed or uncommitted basis at various tier-based rates according to volumes transported. Parties interested in becoming Committed Shippers can do so by making long-term acreage or volumetric dedications for crude oil gathering and transportation service on the Bakken System. The open season will also provide potential shippers with the opportunity to deliver volumes into the system via a truck rack. The open season will last approximately 30 days, closing on June 22, 2015.

Shipper Inquiries

Bona fide potential shippers that would like to receive copies of the open season documents and proposed tariff(s) must first sign a confidentiality agreement. During the binding open season, comments, questions, or changes to the general terms and conditions of the proposed tariffs, services and/or routes are due in writing by noon Central Time on June 22, 2015. Interested parties will have the opportunity to execute committed agreements for crude oil transportation service on the proposed gathering pipeline system.

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