Magellan Midstream and Occidental Petroleum Extend Open Season for Proposed BridgeTex Pipeline to July 18
Jul 11, 2012 5:35:00 PM
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TULSA, Okla. and HOUSTON, July 11, 2012 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) and Occidental Petroleum Corporation (NYSE: OXY) announced today a one-week extension of their binding open season initiated on June 11, 2012 to solicit capacity commitments from shippers to transport crude oil from Colorado City, Texas to the Houston Gulf Coast area on the proposed BridgeTex Pipeline. Binding commitments are now due on July 18, 2012.
As previously announced, Magellan and Occidental are jointly assessing customer interest to transport up to 278,000 barrels per day of crude oil from Colorado City to Texas City. The project includes approximately 400 miles of newly-constructed pipeline from Colorado City to Houston and an expansion by Magellan of its distribution system between East Houston and Texas City. Subject to sufficient commitments from shippers and necessary permits and regulatory approvals, the proposed BridgeTex Pipeline is expected to begin service by mid-2014.
For customer inquiries about the open season, please contact Mark Daggett of Magellan at (918) 574-7022 or mark.daggett@magellanlp.com. More information about the project and the open season is available at www.magellanlp.com/uploadedfiles/BridgeTex Open Season.pdf.
About Magellan Midstream Partners, L.P.
Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly traded partnership that primarily transports, stores and distributes petroleum products. The partnership owns the longest refined petroleum products pipeline system in the country, with access to more than 40% of the nation's refining capacity, and can store 80 million barrels of petroleum products such as gasoline, diesel fuel and crude oil. More information is available at www.magellanlp.com.
About Occidental Petroleum Corporation
Occidental Petroleum Corporation (NYSE: OXY) is an international oil and gas exploration and production company with operations in the United States, primarily in the Permian Basin, California and Midcontinent areas, the Middle East/North Africa and Latin America regions. Oxy is the fourth-largest U.S. oil and gas company, based on equity market capitalization. Oxy's wholly owned subsidiary OxyChem manufactures and markets chlor-alkali products and vinyls.
Oxy is committed to safeguarding the environment, protecting the safety and health of employees and neighboring communities and upholding high standards of social responsibility in all of the company's worldwide operations. More information is available at www.oxy.com.
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