GEL Pipeline Texas LLC, an affiliate of Genesis Energy LP, will conduct a binding open season to solicit shipper interest in making commitments to a crude oil transportation pipeline system originating at new receipt points at the Department of Energy Pipeline and Cameron Highway Offshore Pipeline System (CHOPS) and deliver barrels to Webster Terminal, Marathon Petroleum Corp.’s (NYSE: MPC) Texas City refinery or a Genesis affiliate’s brown water barge dock in Texas City.
The pipeline will include terminalling infrastructure capable of receiving, segregating and batching multiple Gulf of Mexico crude oil grades originating from the Hoover Offshore Oil Pipeline System (the HOOPS System) and the CHOPS System. GPT is constructing approximately 4 miles of new pipeline connecting to its existing Texas pipeline system in Texas City to access the delivery points.
“Our Texas pipeline system will provide Gulf of Mexico shippers a northbound delivery option beyond the Texas City refining market,” Ryan Sims, Genesis vice president of finance and corporate development, said in a written statement. “Given our existing asset base in Texas and the Gulf of Mexico, Genesis was a logical fit to provide this service. We remain focused on providing maximum optionality for our offshore and refining customers through our pipeline portfolio.”
The open season began on Feb. 21 and will end on March 8.
Recommended Reading
CEO: Coterra ‘Deeply Curious’ on M&A Amid E&P Consolidation Wave
2024-02-26 - Coterra Energy has yet to get in on the large-scale M&A wave sweeping across the Lower 48—but CEO Tom Jorden said Coterra is keeping an eye on acquisition opportunities.
Battalion in Compliance with NYSE American after 2023 Meeting
2024-02-13 - Previously, Battalion Oil was not in compliance with the NYSE after failing to hold an annual meeting of stockholders during the fiscal year ending Dec. 31.
JMR Services, A-Plus P&A to Merge Companies
2024-03-05 - The combined organization will operate under JMR Services and aims to become the largest pure-play plug and abandonment company in the nation.
New Fortress Energy Sells Two Power Plants to Puerto Rico
2024-03-18 - New Fortress Energy sold two power plants to the Puerto Rico Electric Power Authority to provide cleaner and lower cost energy to the island.
Tellurian Executive Chairman ‘Encouraged’ by Progress
2024-03-18 - Tellurian announced new personnel assignments as the company continues to recover from a turbulent 2023.