White Cliffs Pipeline, L.L.C. Completes Successful Open Season for Expansion
TULSA, Okla., Oct. 25, 2012 (GLOBE NEWSWIRE) -- White Cliffs Pipeline, L.L.C.
("WCPL") owned by a subsidiary of SemGroup^® Corporation (NYSE:SEMG), a
subsidiary of Plains All American Pipeline, L.P. (NYSE:PAA), a subsidiary of
Western Gas Partners, LP (NYSE:WES) and a subsidiary of Noble Energy, Inc.
(NYSE:NBL) today announced that it has received sufficient binding shipper
commitments during its recent open season to move forward with its Expansion
Project which will allow the company to provide additional crude oil
transportation service from Platteville, Colorado, to Cushing, Oklahoma.
White Cliffs Pipeline Logo
"We are happy to finalize these binding contracts with our shippers and
appreciate their firm commitments to this expansion," said Norm Szydlowski,
chief executive officer of SemGroup Corporation. "The expansion of the White
Cliffs Pipeline will help meet a growing demand for midstream services in the
Denver Julesburg Basin by increasing the current pipeline capacity from
approximately 70,000 bpd to about 150,000 bpd."
Subject to Federal Energy Regulatory Commission and other regulatory
approvals, the WCPL expansion is anticipated to be in service in the first
half of 2014. Following completion, Rose Rock Midstream, L.P. (NYSE:RRMS),
SemGroup's master limited partnership, will continue operating the expanded
White Cliffs Pipeline.
White Cliffs Ownership
Company Percent Ownership
SemGroup Corporation 51%
Plains All American Pipeline, L.P. 34%
Western Gas Partners LP 10%
Noble Energy, Inc. 5%
About White Cliffs Pipeline
White Cliffs Pipeline^®, L.L.C. is a partially owned subsidiary of SemGroup^®
Corporation and is operated by Rose Rock Midstream, L.P. White Cliffs Pipeline
originates in Platteville, CO, northeast of Denver, and terminates at Rose
Rock Midstream's storage facility in Cushing, OK. White Cliffs Pipeline, a 527
mile, 12-inch common carrier, crude oil pipeline is the only pipeline that
directly moves crude oil out of the DJ Basin to the Cushing market and
ultimately to refiners in the Mid-Continent area.
The White Cliffs Pipeline Logo is available at
Based in Tulsa, Oklahoma, SemGroup^® Corporation (NYSE:SEMG) is a publicly
traded midstream service company providing the energy industry the means to
move products from the wellhead to the wholesale marketplace. SemGroup
provides diversified services for end users and consumers of crude oil,
natural gas, natural gas liquids, refined products and asphalt. Services
include purchasing, selling, processing, transporting, terminalling and
SemGroup® and White Cliffs Pipeline^® are registered trademarks of SemGroup
About Rose Rock Midstream
Rose Rock Midstream, L.P. (NYSE:RRMS) is a growth-oriented Delaware master
limited partnership formed by SemGroup^® Corporation to own, operate, develop
and acquire a diversified portfolio of midstream energy assets. Rose Rock
Midstream provides crude oil gathering, transportation, storage and marketing
services. Headquartered in Tulsa, OK, Rose Rock Midstream has operations in
six different states with the majority of its assets strategically located in
or connected to the Cushing, Oklahoma crude oil marketing hub.
About Plains All American Pipeline (NYSE:PAA)
Plains All American Pipeline, L.P. is a publicly traded master limited
partnership engaged in the transportation, storage, terminalling and marketing
of crude oil and refined products, as well as in the processing,
transportation, fractionation, storage and marketing of natural gas liquids.
Through its general partner interest and majority equity ownership position in
PAA Natural Gas Storage, L.P. (NYSE:PNG), PAA owns and operates natural gas
storage facilities. PAA is headquartered in Houston, Texas.
About Western Gas Partners, LP (NYSE:WES)
Western Gas Partners, LP is a growth-oriented Delaware master limited
partnership formed by Anadarko Petroleum Corporation (NYSE:APC) to own,
operate, acquire and develop midstream energy assets. With midstream assets in
East, West and South Texas, the Rocky Mountains and the Mid-Continent, the
Partnership is engaged in the business of gathering, processing, compressing,
treating, and transporting natural gas, condensate, natural gas liquids and
crude oil for Anadarko and other producers and customers. For more information
about Western Gas Partners, please visit www.westerngas.com.
About Noble Energy, Inc. (NYSE:NBL)
Noble Energy is a leading independent energy company engaged in worldwide oil
and gas exploration and production. The Company has core operations onshore in
the U.S., primarily in the DJ Basin and Marcellus Shale, in the deepwater Gulf
of Mexico, offshore Eastern Mediterranean, and offshore West Africa. Noble
Energy is listed on the New York Stock Exchange and is traded under the ticker
symbol NBL. Further information is available at www.nobleenergyinc.com.
Certain matters contained in this Press Release include "forward-looking
statements" within the meaning of Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. We make these forward-looking statements in reliance on the safe
harbor protections provided under the Private Securities Litigation Reform Act
All statements, other than statements of historical fact, included in this
Press Release including the timing and capacity of the Expansion Project,
management's plans and objectives for the Expansion Project, business
prospects, outcome of regulatory proceedings, market conditions and other
matters, may constitute forward-looking statements. Although we believe that
the expectations reflected in these forward-looking statements are reasonable,
we cannot assure you that these expectations will prove to be correct. These
forward-looking statements are subject to certain known and unknown risks and
uncertainties, as well as assumptions that could cause actual results to
differ materially from those reflected in these forward-looking statements.
Factors that might cause actual results to differ include, but are not limited
to, regulatory approvals; environmental risks; changes in demand for crude
oil; loss of market share and industry competition; potential delays and cost
overruns; the risk of finalizing the T&D Agreements; the ability to access
sufficient capital from internal and external sources; as well as other risk
factors discussed from time to time in each of our documents and reports filed
with the SEC.
Readers are cautioned not to place undue reliance on any forward-looking
statements contained in this Press Release, which reflect management's
opinions only as of the date hereof. Except as required by law, we undertake
no obligation to revise or publicly release the results of any revision to any
CONTACT: Investor Relations:
Alisa Perkins, 918-524-8081
Liz Barclay, 918-524-8158
SemGroup Corporation logo
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