Tallgrass Energy Announces Seahorse Pipeline Open Season
LEAWOOD, Kan.--(BUSINESS WIRE)-- Tallgrass Energy, LP (NYSE: TGE) (“Tallgrass”) today announced an open season soliciting binding shipper commitments for crude oil transportation service on the Seahorse Pipeline (“Seahorse”).
The proposed Seahorse Pipeline is expected to be 30 inches in diameter and approximately 700 miles long, with the capacity to transport up to 800,000 barrels of crude oil per day from the Cushing oil hub to the Louisiana Gulf Coast. The pipeline will operate as a multi-grade common batch system that, along with Tallgrass’ Pony Express Pipeline, will ensure domestic refiners and international markets have access to “neat” barrels from five different production basins. Seahorse is expected to start commercial operations in the third quarter of 2021.
In addition, to accommodate shipper interest and continued growth in the Powder River, Denver-Julesburg and Bakken producing regions, Tallgrass expects to complete pump optimization projects to expand capacity on its Pony Express Pipeline to enable it to transport up to 400,000 barrels per day by the end of the year. If shipper interest exceeds that added capacity, Tallgrass may expand the Pony Express Pipeline further through potential additional horsepower and/or looping to facilitate large-scale movements from Guernsey and northeast Colorado.
The Seahorse open season runs through Oct. 1. Prospective shippers may review details of the open season after executing a confidentiality agreement obtained by contacting Tallgrass representatives Kyle Quackenbush, 303.763.3319; Andrew DiPaolo, 303.763.3329; or Dean Dick, 307.232.4430.
Project investment is dependent upon obtaining satisfactory customer interest and receiving applicable state and federal permits, among other factors.
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.
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 Seahorse development project and the Pony Express Pipeline expansion projects. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Tallgrass, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements, and other important factors that could cause actual results to differ materially from those projected, including those set forth in reports filed by Tallgrass with the Securities and Exchange Commission. Any forward-looking statement applies only as of the date on which such statement is made, and Tallgrass 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.
Tallgrass Energy, LP
Investor and Financial Inquiries
Nate Lien, 913-928-6012
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Phyllis Hammond, 303-763-3568
Source: Tallgrass Energy, LP