Medallion Announces Successful Close of Howard Lateral Crude Pipeline Open Season
Irving, Texas, March 29, 2016 — Medallion Pipeline Company, LLC (“Medallion”), a subsidiary of Medallion Midstream LLC, today announced the successful closing of the binding open season for its proposed crude oil pipeline extension, (the “Howard Lateral”). As previously announced, the binding open season for the Howard Lateral commenced on February 9, 2016.
Based on a binding capacity bid received during the open season, Medallion has executed a long-term Transportation Service Agreement which provides a capacity commitment sufficient to move forward with the Howard Lateral and a partial expansion of Medallion’s Wolfcamp Connector mainline. The Howard Lateral extends approximately 49 miles from multiple origin points in Howard County, Texas, to the southeast to a new point of interconnection on Medallion’s Wolfcamp Connector mainline in Glasscock County, Texas, and will be capable of transporting approximately 45,000 barrels per day of crude oil for delivery on a bi-directional basis. Adjacent to one of the Howard Lateral origin points will be truck unloading facilities which will be owned and operated by Medallion Pipeline’s affiliate, Medallion Crude Oil Logistics, to provide shippers the option to truck crude oil quantities to those facilities for delivery to that origin point on the Howard Lateral.
“The successful close of the Howard Lateral Open Season underwrites a significant northern expansion of Medallion’s existing Midland Basin crude oil gathering system,” said Randy Lentz, CEO of Medallion. “The Howard Lateral will provide a crucial market link for Howard County customers seeking multiple delivery and market options for their crude oil production.”
More information concerning the Howard Lateral and the binding open season is available on the Medallion website (www.medallionmidstream.com) or by contacting the Medallion representative listed below:
Medallion Pipeline Company, LLC
222 West Las Colinas Blvd., Suite 1140E
Irving, Texas 75039
Attention: Paige Snider