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Phillips 66 Announces Expansion Open Season for Seminoe Pipeline
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Rhea-AI Summary
Phillips 66 (NYSE: PSX) announces a binding expansion open season for its Seminoe Pipeline system, seeking shipper commitments for refined product transportation from Billings, Montana, to Casper, Wyoming. The expansion will add 5,800 barrels per day of takeaway capacity, expected to be operational by Q2 2023. The open season begins at 8 a.m. CDT on August 12, 2022. Interested parties need a confidentiality agreement to access the documentation. This initiative aims to enhance infrastructure for refined products, supporting Phillips 66's growth strategy.
Positive
Expansion of Seminoe Pipeline system to increase capacity by 5,800 barrels per day.
Expected availability of expanded capacity in Q2 2023, enhancing product delivery capabilities.
Negative
None.
HOUSTON--(BUSINESS WIRE)--
Phillips 66 (NYSE: PSX) announces that its subsidiary, Phillips 66 Carrier, LLC, is launching a binding expansion open season on its Seminoe Pipeline system to solicit shipper commitments for services from Billings, Montana, to Casper, Wyoming. The expansion open season will provide an opportunity for interested shippers to secure long-term refined product transportation with Seminoe Pipeline under binding transportation services agreements.
The expansion includes new takeaway capacity of 5,800 barrels per day on Seminoe Pipeline with origination stations in Billings to destination at Casper. The higher capacity is expected to be available during the second quarter of 2023.
The expansion open season will commence at 8 a.m. CDT on August 12, 2022. Prior to participating in the open season, interested parties must execute a confidentiality agreement to govern the receipt of the open season documentation. For a form of confidentiality agreement and additional information regarding the expansion of Seminoe Pipeline, please contact Tarek Saad at Resource.SeminoeExpansion@p66.com.
About Phillips 66
Phillips 66 (NYSE: PSX) manufactures, transports and markets products that drive the global economy. The diversified energy company’s portfolio includes Midstream, Chemicals, Refining, and Marketing and Specialties businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn or Twitter.
What is Phillips 66's expansion announcement regarding the Seminoe Pipeline?
Phillips 66 announced a binding expansion open season for the Seminoe Pipeline to increase capacity by 5,800 barrels per day, starting on August 12, 2022.
When will the expanded capacity on the Seminoe Pipeline be available?
The expanded capacity is expected to be available in the second quarter of 2023.
What are the requirements to participate in the Seminoe Pipeline open season?
Interested parties must execute a confidentiality agreement to access open season documentation for the Seminoe Pipeline.
Where does the Seminoe Pipeline transport products from and to?
The Seminoe Pipeline transports refined products from Billings, Montana, to Casper, Wyoming.
