Plains All American Announces New Mississippian Lime Pipeline
Plains All American Pipeline, L.P. (NYSE: PAA) today announced it plans to construct a new 170-mile pipeline to service the increasing Mississippian Lime crude oil production in northern Oklahoma and southern Kansas. This pipeline, in conjunction with the previously announced Medford-to-Cushing pipeline conversion, is designed to provide approximately 175,000 barrels-per-day of crude oil transportation capacity to the Cushing market and is expected to be completed in mid-2013. PAA also announced it has entered into a long-term agreement with SandRidge Energy (NYSE: SD) to purchase SandRidge's production from a multi-county area around the new pipeline system.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.