A subsidiary of MPLX LP (NYSE: MPLX) has agreed to buy the Enbridge Ozark Pipeline for about $220 million.
MPLX said in a Feb. 13 statement that its subsidiary MPLX Pipe Line Holdings LLC planned an expansion to the 433-mile pipeline as a result of long-term volume commitments obtained during Enbridge Pipelines (Ozark) LLC’s open season. The expansion will increase the line’s capacity from 230,000 (Mbbl/d) to about 345 Mbbl/d.
The Ozark pipeline is a 22-inch crude oil pipeline originating in Cushing, Okla., and terminating in Wood River, Ill. The expansion project design includes increasing the horsepower at pump stations along the pipeline and adding drag-reducing agents to the crude oil. The expansion project is expected to be complete in second-quarter 2018.
“We believe MPLX is extremely well-positioned to grow through a combination of organic projects, dropdowns from our sponsor Marathon Petroleum Corp., and third-party acquisitions,” said Don Templin, president of MPLX. “Ozark Pipeline will expand the footprint of our logistics and storage segment by connecting Cushing-sourced volumes to our extensive Midwest pipeline network.”
The purchase transaction is expected to close in first-quarter 2017.
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