Dallas, TX-based Energy Transfer Partners announced a joint venture with Houston-based Phillips 66 at the end of October, 2014, to build two pipelines that will move crude oil out of North Dakota's Bakken Shale field.
Energy Transfer Partners will have a 75% interest in the pipelines. Phillips 66 will have a 25% interest, and will pay a proportionate cost of the construction. Both the "Dakota Access Pipeline" and "Energy Transfer Crude Oil Pipeline" are scheduled to be completed by the end of 2016.
““We look forward to working with Phillips 66 to build this much-needed pipeline infrastructure to link rapidly growing supplies of domestically produced light crude oil in the Bakken and Three Forks play to refineries throughout the country,” said Energy Transfer Partners CEO Kelcy Warren.”
According to Energy Transfer Partners, the Dakota Access Pipeline is expected to deliver in excess of 450,000 b/d of crude oil from the Bakken and Three Forks to market centers in the Midwest, based on current contractual commitments. The Energy Transfer Crude Oil Pipeline will provide crude oil transportation service from the Midwest to the Sunoco Logistics Partners and Phillips 66 storage terminals located in Nederland, TX.
In September, Energy Transfer announced a binding expansion open season for the pipelines to evaluate additional interest.
Read more at energytransfer.com