IRVING, Texas--(BUSINESS WIRE)--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 second major expansion of Medallion’s existing crude oil pipeline system. With the first expansion of the system nearing completion, the current project proposed by the Open Season will further extend and expand the geographic scope of the existing 200-mile, 95,000 barrel per day system:
- The “Santa Rita Lateral” is a proposed 65,000 barrel per day, 10-inch and 8-inch diameter crude oil pipeline which, along with smaller diameter pipeline, will extend approximately 55 miles to the southwest from Medallion's existing Reagan Station in Reagan County, Texas, to production areas in southwestern, central, and northeastern Reagan County.
- An integral part of the overall project is a proposed 30,000 barrel per day (or more, depending upon shipper commitments) expansion of Medallion's existing 10-inch diameter Reagan Gathering Extension, which originates at the Reagan Station and extends approximately 55 miles north to the Garden City Station in Glasscock County, Texas (“Reagan Expansion”).
Medallion is conducting the binding Open Season to obtain long-term volume commitments for firm transportation capacity on the Santa Rita Lateral and Reagan 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 a Committed Firm Shipper on the Expansion Project. The Expansion Project is expected to commence full commercial operations in the second quarter of 2015, although certain initial segments of the proposed project may commence service on an interim basis as early as March 1, 2015.
Open Season Process
The Open Season began on Wednesday, February 11, 2015 and ends on Wednesday, March 4, 2015. All bids must be submitted to the Medallion representative listed below by 5:00 pm Central Standard Time on or before March 4, 2015.
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.
About 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.
About 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 $17.1 billion of regulatory assets under management (RAUM) and approximately $8.1 billion in commitments have been allocated across the energy sector since inception. For additional information, please visit www.emgtx.com.
