Tallgrass Energy Announces Supplemental Open Season on Pony Express Pipeline for the Carpenter Expansion
LEAWOOD, Kan.--(BUSINESS WIRE)-- Tallgrass Energy, LP (NYSE: TGE), through its affiliate Tallgrass Pony Express Pipeline, LLC (“Pony Express”), today announced that due to continued interest in its Carpenter Expansion it is launching a supplemental open season to solicit binding shipper commitments for crude oil transportation from a new origin near Carpenter, Wyo., to Pony Express destinations in Colorado.
Based on commitments received in the original open season, Pony Express is building an approximately 25 mile 12-inch pipeline connecting the Hereford origin to the new origin point in Carpenter, Wyo., expanding capacity from Wyoming to Sterling, Colo., on the Pony Express system. Pony Express expects the new pipeline to be in-service in Q2 2020.
The supplemental open season is currently scheduled to run from March 16, 2020, to April 14, 2020. Interested parties may review details of the open season after executing a confidentiality agreement obtained by contacting Matt Hester at matt.hester@tallgrassenergylp.com.
Cautionary Note Concerning Forward-Looking Statements
Disclosures in this press release contain "forward-looking statements." All statements, other than statements of historical facts, included in this press release that address activities, events or developments that management expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the feasibility, cost, execution, in-service timing, capabilities, and expected benefits of the Hereford Lateral expansion project and the length of the binding open season soliciting shipper commitments from a new origin near Carpenter, Wyo. Forward-looking statements may also include the expectations of plans, strategies, objectives and growth and anticipated financial and operational performance of TGE and its subsidiaries, including: the ability to pursue expansions and other opportunities for incremental volumes; natural gas and crude oil production growth in TGE's operating areas; expected future benefits of acquisitions or expansion projects; timing of anticipated spending on planned expenses and maintenance capital projects; and distribution rate and growth, including variability of quarterly distribution coverage. These statements are based on certain assumptions made by TGE based on management's experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of TGE, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include risks relating to TGE's financial performance and results, availability of sufficient cash flow to pay dividends and execute its business plan, the demand for natural gas storage, processing and transportation services and for crude oil transportation services, operating hazards, the effects of government regulation, tax position and other risks incidental to transporting, storing and processing natural gas or transporting crude oil and other important factors that could cause actual results to differ materially from those projected, including those set forth in reports filed by TGE with the Securities and Exchange Commission. Any forward-looking statement applies only as of the date on which such statement is made and TGE does not intend to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
About Tallgrass Energy
Tallgrass Energy, LP (NYSE: TGE) is a growth-oriented midstream energy infrastructure company operating across 11 states with transportation, storage, terminal, water, gathering and processing assets that serve some of the nation’s most prolific crude oil and natural gas basins.
To learn more, please visit our website at www.tallgrassenergy.com.
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Source: Tallgrass Energy, LP