Medallion Pipeline Launches Binding Open Season – Crane Extension and Midkiff Expansion
Irving, Texas, February 24, 2016 — Medallion Pipeline Company, LLC (“Medallion”), a subsidiary of Medallion Midstream LLC, today announced a binding Open Season which solicits long-term commitments from shippers for firm transportation capacity on the fourth major expansion of Medallion’s existing crude oil pipeline system. The current project proposed by the Open Season will further extend and expand the geographic scope of the 370-mile Medallion system:
- The “Crane Extension” is a proposed 100,000 barrel per day bi-directional crude oil pipeline which will extend approximately 25 miles in a southwesterly direction from Medallion’s existing Midkiff Station in northwest Upton County, Texas to an interconnection with Magellan Midstream Partners’ Longhorn Pipeline in east Crane County, Texas.
- An integral part of the overall project is a proposed 25,000 barrel per day expansion of Medallion’s existing Midkiff Lateral which extends in a northwesterly direction from the Midkiff Station to the Garden City Station in Glasscock County, Texas. As part of the Midkiff expansion, the existing Midkiff Lateral will be reconfigured for bi-directional operations.
Medallion is conducting the binding Open Season to obtain long-term volume commitments for firm transportation capacity on the Crane Extension and the Midkiff Lateral expansion (referred to as the “Expansion Project”). The Open Season provides an opportunity for interested shippers to acquire long-term firm capacity, under minimum 10-year term Transportation Service Agreements and other eligibility requirements, as Committed Firm Shippers on the Expansion Project. The Expansion Project is expected to commence full commercial operations in the second quarter of 2016, although certain segments of the Expansion Project may commence service on an interim basis on an earlier date.
Open Season Process
The Open Season will begin on Wednesday, February 24, 2016 and will end on Wednesday, March 16, 2016. All bids must be submitted to the Medallion representative listed below by 5:00 pm Central Standard Time on or before March 16, 2016. Bona fide prospective shippers may obtain copies of the Transportation Service Agreement, as well as the proposed Federal Energy Regulatory Commission and Texas Railroad Commission Tariffs (the “Confidential Open Season Documents”), by contacting the Medallion representative listed below. Medallion requires a prospective shipper to execute a Confidentiality Agreement prior to delivery of these documents. More information concerning the Expansion Project, 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
Medallion Midstream, LLC
Medallion Midstream is an Irving, Texas based full services midstream provider specializing in the design, construction and operation of natural gas and crude oil infrastructure. Medallion delivers responsive, reliable and comprehensive services and solutions for its customers. Medallion is a portfolio company of The Energy & Minerals Group. To learn more about Medallion, please contact Paige Snider or visit www.medallionmidstream.com.
The Energy & Minerals Group
EMG is the management company for a series of specialized private equity funds. The Firm was founded by John Raymond (majority owner and CEO) and John Calvert in 2006. EMG focuses on investing across various facets of the global natural resource industry including the upstream and midstream segments of the energy complex. EMG has approximately $16.5 billion of regulatory assets under management and approximately $9.4 billion in commitments have been allocated across the energy sector since inception.