Zydeco Announces Binding Open Season
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Houston, April 15, 2019 (GLOBE NEWSWIRE) — Zydeco Pipeline Company LLC (Zydeco), jointly owned by Shell Midstream Partners, L.P. (NYSE: SHLX) and Shell Pipeline Company LP (SPLC), announced today the start of a binding open season. Zydeco is seeking binding commitments for non-firm capacity transportation service on its 350-mile pipeline which delivers crude to St. James and Clovelly, LA from terminals in Houston and Nederland, TX.
“Zydeco is a strategic pipeline and we expect that it will continue to meet demand in the critical US Gulf Coast region. We believe conducting the open season at this time is the best way to maximize the value of the system to both shippers and the pipeline.” said Kevin Nichols, CEO of Shell Midstream Partners and Executive Vice President US Pipeline.
Zydeco provides a reliable and cost-effective solution to transport crude oil to Louisiana refineries, helping to alleviate bottlenecks of crude in Houston and Nederland from the Eagle Ford, Permian Basin and Bakken. The binding open season began today, April 15, 2019 at 7:30AM CST and will continue until May 31, 2019 at 12:00PM CST. For more information refer to the Information Memorandum available on SPLC’s website at www.shell.us/pipeline.
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About Shell Pipeline Company LP
For 100 years, Shell Pipeline Company LP has helped meet America’s energy needs. SPLC transports more than 1.5 billion barrels of crude oil and refined products annually through thousands of miles of pipelines located in five states. As a wholly-owned subsidiary of Shell Oil Products US, a unit of Shell Oil Company, SPLC is part of one of the world’s leading energy companies, which has been a prominent participant in America’s energy industry for a century. SPLC operates an integrated network of trunk lines, interconnects and terminals safely, efficiently and dependably – key factors in keeping the commodities SPLC carries more affordable for the people who count on them.
About Shell Midstream Partners, L.P.
Shell Midstream Partners, L.P., headquartered in Houston, Texas, is a growth-oriented master limited partnership formed by Royal Dutch Shell plc to own, operate, develop and acquire pipelines and other midstream assets. Shell Midstream Partner, L.P.’s assets include interests in entities that own crude oil and refined products pipelines and terminals that serve as key infrastructure to (i) transport onshore and offshore crude oil production to Gulf Coast and Midwest Refining markets and (ii) deliver refined products from those markets to major demand centers. Our assets also include interests in entities that own natural gas and Refinery gas pipelines that transport offshore natural gas to market hubs and deliver Refinery gas from refineries and plants to chemical sites along the Gulf Coast.
Important Information Relating to Shell Midstream Partners’ Forward Looking Statements
This press release includes various “forward-looking statements.” All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. You can identify our forward-looking statements by words such as “anticipate”, “believe”, “estimate”, “expect”, “forecast”, “goals”, “objectives”, “outlook”, “intend”, “plan”, “predict”, “project”, “risks”, “schedule”, “seek”, “target”, “could”, “may”, “should” or “would” or other similar expressions that convey the uncertainty of future events or outcomes. These statements are accompanied by cautionary language identifying important factors, though not necessarily all such factors, which could cause future outcomes to differ materially from those set forth in forward-looking statements. In particular, expressed or implied statements concerning future actions, conditions, events or performance are forward-looking statements. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future actions, conditions, events or performance may differ materially from those expressed in these forward-looking statements. Forward-looking statements speak only as of the date of this press release, April 15, 2019, and Shell Midstream Partners disclaims any obligation to update such statements for any reason, except as required by law. All forward-looking statements contained in this document are expressly qualified in their entirety by the cautionary statements contained or referred to in this paragraph. Many of the factors that will determine these results are beyond management’s ability to control or predict. These factors include the risk factors described in Part I, Item 1A. “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2018 as updated by the information in other filings with the SEC. If any of those risks occur, it could cause actual results to differ materially from those contained in any forward-looking statement. Because of these risks and uncertainties, you should not place undue reliance on any forward-looking statement.
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