CENTURION PIPELINE L.P. LAUNCHES BINDING OPEN SEASON FOR AUGUSTUS PIPELINE, PROVIDING SERVICE FROM MIDLAND TO CRANE
HOUSTON - November 5, 2019 - Centurion Pipeline L.P. ("Centurion") today announced that it will launch a binding open season to solicit shipper commitments for a proposed crude oil pipeline from Midland, Texas to Crane, Texas. The Augustus Pipeline will connect Centurion's existing Midland Terminal, which currently has approximately two million barrels of storage capacity, to multiple long haul pipelines originating at Crane. The project will include a combination of new and existing pipeline assets and will have an initial throughput capacity of approximately 150,000 barrels per day (BPD). The pipeline is expected to be in service in the fourth quarter of 2020.
The binding open season will commence on Tuesday, November 5, 2019 at 8:00 a.m. Central Time and is scheduled to conclude at 5:00 p.m. Central Time on Monday, December 9, 2019.
Open Season Information The binding open season process provides potential shippers with the opportunity to obtain capacity on the Augustus Pipeline. A copy of this press release can be found on Centurion's public website at www.centurionpipeline.com. A copy of the transportation services agreement, as well as a copy of Centurion's open season information memorandum, which provides a more detailed summary of the key terms in the transportation services agreement, will be available to interested shippers upon the execution of a confidentiality agreement. A copy of the confidentiality agreement will be provided upon request. All requests should be directed to Jen Fontenot at Jen_Fontenot@centurionpl.com. All binding commitments must be received by 5:00 p.m. Central Time on December 9, 2019.
About Centurion Pipeline L.P. Centurion Pipeline L.P. is a crude oil pipeline operator that owns and operates approximately 3,000 miles of pipeline extending from southeast New Mexico across the Permian Basin of West Texas to Cushing, Oklahoma. With a significant crude oil storage facility in Midland, TX that has the capability to store approximately two million barrels of multiple qualities of crude oil, the company is well positioned to accommodate customer demand. Centurion is a wholly owned subsidiary of Lotus Midstream, LLC.