DENVER--(BUSINESS WIRE)--Saddle Butte Rockies Midstream, LLC (“Saddle Butte”), a wholly owned subsidiary of Saddle Butte Pipeline II, LLC, today announced the start of a binding open season for the Rockies South Pipeline, a new interstate pipeline designed to transport multiple grades of crude oil and condensate produced in the Denver-Julesburg Basin (“DJ Basin”) to points in Cushing, Oklahoma. Over the past several months, Saddle Butte has been actively negotiating commitments with potential shippers, including a major integrated oil and gas company. Saddle Butte believes these potential commitments will provide the needed commercial support to proceed with the Rockies South Pipeline.
Rockies South Pipeline would extend approximately 600 miles from various receipt points in Weld County, Colorado, and terminate in Cushing. The integrated oil and gas company has made available its extensive network of storage assets at Cushing.
The project has a preliminary design capacity of up to approximately 250,000 barrels per day. Saddle Butte will increase the project’s design capacity if sufficient commitments are received in the open season.
Subject to a successful open season and receipt of necessary permits and approvals, Rockies South Pipeline is expected to become operational in the third quarter of 2016.
The open season begins at 8 a.m. Mountain Time on Monday, September 29, 2014, and will close at 5 p.m. Mountain Time on Wednesday, October 29, 2014.
“Our customers depend on the Saddle Butte team and our proven ability to provide safe, reliable project delivery, service assurance and creative commercial solutions. The Rockies South Pipeline project continues this legacy while addressing takeaway constraints and creating significant value for our customers,” said Saddle Butte’s president, David Ratliff.
If you have any questions regarding this open season, please contact:
Colin Miller
Vice President, Business Development
Saddle Butte
Pipeline II, LLC
1900 16th Street, Suite 1550
Denver, CO 80202
303.446.7529
cmiller@sbpipeline.com
To request a full set of documents related to this open season, please contact:
Greg A. Ward
Vice President and General Counsel
Saddle Butte
Pipeline II, LLC
858 Main Avenue, Suite 301
Durango, CO 81301
970.828.2079
gward@sbpipeline.com
The open season notice is available at www.sbpipeline.com.
About Saddle Butte Pipeline II, LLC
Founded in 2008 with offices in Denver and Durango, Colorado, Saddle Butte is a full-service midstream company offering competitive, high-quality solutions from the wellhead to market. The Saddle Butte management team has extensive experience across multiple resource plays in virtually every facet of midstream and interstate pipeline initiatives, including land, engineering, regulatory matters, construction and operations. By maintaining these capabilities in-house, Saddle Butte is well positioned to promptly initiate and execute new midstream projects.
