Plains All American Pipeline LP (NYSE: PAA) and Delek Logistics Partners LP (NYSE: DKL) formed a joint venture (JV) through Caddo Pipeline LLC, Plains said March 23. The company will develop the 80-mile, 12-inch Caddo Pipeline.
The pipeline will move up to 80,000 barrels of crude oil from Longview, Texas, to Shreveport, La. It will begin in Longview at Plains’ Atlas terminal, taking crude to Shreveport-area refineries and Delek’s pipeline system supplying the Delek US Holdings (NYSE: DK) El Dorado, Ark., refinery.
Houston-based Plains will construct and operate the pipeline, and each company is 50/50 in the JV.
The project is expected to cost about $100 million, and the pipeline is scheduled to be completed in mid-2016.
Recommended Reading
Inside Ineos’ US E&P Business Plan: Buy, Build, Buy
2025-01-27 - The E&P chief of U.K.’s Ineos says its oily Eagle Ford Shale acquisition in 2023 has been a profitable platform entry for its new U.S. upstream business unit. And it wants more.
Perission Petroleum Extends Colombian Assets Sale
2025-01-22 - The sale was delayed due to pending formal confirmation regarding the extension of Perission Petroleum’s E&P license in Colombia, specifically for Block VMM-17.
E&P Highlights: Jan. 21, 2025
2025-01-21 - Here’s a roundup of the latest E&P headlines, with Flowserve getting a contract from ADNOC and a couple of offshore oil and gas discoveries.
What Chevron’s Anchor Breakthrough Means for the GoM’s Future
2024-12-04 - WoodMac weighs in on the Gulf of Mexico Anchor project’s 20k production outlook made possible by Chevron’s ‘breakthrough’ technology.
Darbonne: The Power Grid Stuck in Gridlock
2025-01-05 - Greater power demand is coming but, while there isn’t enough power generation to answer the call, the transmission isn’t there either, industry members and analysts report.