Energy Transfer Partners LP (ETP)

[eFinanceMarkets]

Dakota Access Pipeline now in service, Energy Transfer says

Energy Transfer Partners (NYSE:ETP) says the Dakota Access Pipeline system, which prompted sustained protests from Native American and environmental activists, is now in commercial service, transporting crude oil from the Bakken/Three Forks productions areas in North Dakota to the Patoka, Ill., storage and terminalling hub.

ETP says the 1,872-mile pipeline system was developed at a combined cost of $4.78B, and has commitments, including shipper flexibility and walk-up, for ~520K bbl/day.

ETP is the lead developer with a 38.25% interest, MarEn Bakken Co. - owned by MPLX and Enbridge Energy Partners (NYSE:EEP) - owns 36.75%, and Phillips 66 (NYSE:PSX) owns 25%.