Phillips 66 (NYSE: PSX) and Enbridge Inc. (NYSE: ENB) on Dec. 11 announced an open season for the Gray Oak Pipeline.
The Gray Oak Pipeline will provide producers and other shippers the opportunity to secure crude oil transportation from West Texas to the destination markets of Houston, Corpus Christi and Freeport, Texas, with connectivity to over 3 million barrels per day (bbl/d) of refining capacity and multiple dock facilities capable of crude oil exports. Shippers will have the option to select from origination stations in Reeves, Loving, Winkler and Crane counties in West Texas.
The Gray Oak Pipeline is expected to have an initial throughput capacity of 385,000 bbl/d. Phillips 66 and Enbridge will evaluate expansion of the system beyond 385,000 bbl/d, depending on shipper interest in the open season. The pipeline system is anticipated to be placed in service in second-half 2019.
The open season will commence at 12 p.m. CST on Dec. 11. Prior to participating in the open season, interested parties must execute a confidentiality agreement to govern the receipt of the open season documentation. For a form of confidentiality agreement and additional information regarding the Gray Oak Pipeline, please contact Corey Leonard at Corey.Leonard@p66.com or Jarrod Tessier at Jarrod.Tessier@enbridge.com.
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