IRVING, Texas--(BUSINESS WIRE)--Medallion Pipeline Company, LLC (“Medallion”), a subsidiary of Medallion Midstream LLC, today announced that it will extend the present December 18, 2013 closing date for the binding open season for its proposed 60 mile crude oil pipeline, the Wolfcamp Connector, as well as for the potential 40 mile southward extension of the proposed pipeline, the Reagan County Extension. As previously announced, the binding open season for the Wolfcamp Connector and the Reagan County Extension commenced on October 29, 2013.
Based on continued discussion with prospective shippers, Medallion has decided to further extend the binding open season for the Wolfcamp Connector and the Reagan County Extension, until January 22, 2014. Medallion believes that, by the close of the open season, it will have received binding long-term capacity commitments in an aggregate volume sufficient to move forward with the construction of the Wolfcamp Connector on a schedule that will place that pipeline segment in-service in the 3rd quarter 2014, as initially projected. With respect to the Reagan County Extension, Medallion is engaged in ongoing discussions with prospective shippers and other interested parties concerning binding long-term capacity commitments on that segment and/or on certain pipeline alternatives to that segment. Accordingly, to permit these discussions to continue, Medallion has decided to further extend the opens season as it relates to both pipeline segments.
Under the extended open season, binding bids for long-term capacity must be submitted to the Medallion representative listed below by 5:00 pm Central Standard Time on or before January 22, 2014. The binding open season remains unmodified in all other respects.
More information concerning the Wolfcamp Connector, the Reagan County Extension, 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
About Medallion Midstream, LLC
Medallion Midstream is an Irving, Texas based full services midstream provider specializing in the construction and operation of natural gas and crude oil infrastructure. Medallion delivers customized, turnkey, oil and gas solutions and exceptional customer services. Medallion is a portfolio company of The Energy & Minerals Group. To learn more about Medallion, please visit www.medallionmidstream.com.
About The Energy & Minerals Group
The Energy & Minerals Group is the management company for a series of specialized private equity funds. 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 $8.2 billion of total investor commitments (including co- investments) with approximately $4.3 billion allocated across the energy sector since inception. For additional information on EMG, please contact Alexandra Coolidge at 713-579-5029.