Phillips 66 Partners LP proposed cutting tariff rates to $3.90 a barrel to ship crude on its new 900,000-barrel-per-day (bbl/d) Gray Oak crude pipeline within points in Texas, according to filings on Nov. 20.
The company proposed both spot rates and committed rates of $3.90 a barrel to transport crude within Texas, down from the $4.75 rate it had set last month.
The rates, set to come into effect by Dec. 1, would apply only to accelerated commissioning service and are pending approval with Texas state regulators. Phillips 66 did not immediately respond to a request for comment.
The filings included a new origin point at Santa Rita, Texas, in Reagan County. It was not immediately clear what rates were for transport to delivery points in the Houston and Corpus Christi, Texas, areas.
The Gray Oak pipeline is the biggest of about three new pipelines connecting the Permian Basin, the nation's largest oil field, to the U.S. Gulf Coast.
Additionally, EQT decided to temporarily curtail approximately 1.4 Bcfe/d of gross production, equivalent to roughly 1 Bcfe/d of net production.
The letter addresses concerns that the COVID-19 crisis may push oil and gas companies and governments around the world to delay action on climate change.
An emphasis on relationships backed by operational expertise and experience has helped these two private-equity-backed midstream operators continue to perform.