Company Website:
http://www.americanmidstream.com/
DENVER -- (Business Wire)
American Midstream Partners, LP (NYSE:AMID) (the “Partnership”)
announced today that American Midstream Bakken, LLC, a wholly-owned
subsidiary of the Partnership, is conducting a binding open season for a
proposed approximately 50-mile Bakken crude oil gathering and
transportation system in the core of McKenzie County, North Dakota (the
“Bakken System”) to transport up to 40,000 barrels per day (Bbl/d) of
crude oil for delivery to major intrastate and interstate pipeline
systems beginning in June 2015. As proposed, the Bakken System will have
initial transportation capacity up to approximately 15,000 Bbl/d with
the ability to expand up to approximately 40,000 Bbl/d.
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During the binding open season, potential shippers have the opportunity
to obtain crude oil transportation service on the Bakken System on a
committed or uncommitted basis at various tier-based rates according to
volumes transported. Parties interested in becoming Committed Shippers
can do so by making long-term acreage or volumetric dedications for
crude oil gathering and transportation service on the Bakken System. The
open season will also provide potential shippers with the opportunity to
deliver volumes into the system via a truck rack. The open season will
last approximately 30 days, closing on June 22, 2015.
Shipper Inquiries
Bona fide potential shippers that would like to receive copies of the
open season documents and proposed tariff(s) must first sign a
confidentiality agreement. During the binding open season, comments,
questions, or changes to the general terms and conditions of the
proposed tariffs, services and/or routes are due in writing by noon
Central Time on June 22, 2015. Interested parties will have the
opportunity to execute committed agreements for crude oil transportation
service on the proposed gathering pipeline system.
For more information about the open season, or to obtain copies of the
open season documents and proposed tariff(s), please contact Rod
Donovan, Vice President of Business Development at rdonovan@americanmidstream.com
or (713) 815-3970.
About American Midstream Partners, LP
Denver-based American Midstream Partners, LP is a growth-oriented
limited partnership formed to own, operate, develop and acquire a
diversified portfolio of midstream energy assets. The Partnership
provides midstream services in the Texas, North Dakota, and the Gulf
Coast and Southeast regions of the United States. For more information
about American Midstream Partners, LP, visit www.americanmidstream.com.
Forward-Looking Statements
This press release includes forward-looking statements. These statements
relate to, among other things, projections of operational volumetrics
and improvements, growth projects, cash flows and capital expenditures.
We have used the words "anticipate," "believe," "could," "estimate,"
"expect," "intend," "may," "plan," "predict," "project," "should,"
"will," "potential," and similar terms and phrases to identify
forward-looking statements in this press release. Although we believe
the assumptions upon which these forward-looking statements are based
are reasonable, any of these assumptions could prove to be inaccurate
and the forward-looking statements based on these assumptions could be
incorrect. Our operations and future growth involve risks and
uncertainties, many of which are outside our control, and any one of
which, or a combination of which, could materially affect our results of
operations and whether the forward-looking statements ultimately prove
to be correct. Actual results and trends in the future may differ
materially from those suggested or implied by the forward-looking
statements depending on a variety of factors which are described in
greater detail in our filings with the SEC. The completion of the Bakken
System in this press release is subject to land acquisition needs and
other conditions beyond our control. Construction of the projects
described in this press release is subject to risks beyond our control
including cost overruns and delays resulting from numerous factors. In
addition, we face risks associated with completion of this project
including decreased liquidity, increased interest and other expenses,
assumption of potential liabilities, diversion of management’s
attention, and other risks associated with construction and growth.
Please see our Risk Factor disclosures included in our Annual Report on
Form 10-K for the year ended December 31, 2014 filed on March 10, 2015
and our Quarterly Report on Form 10-Q for the quarter ended March 31,
2015 filed on May 11, 2015. All future written and oral forward-looking
statements attributable to us or persons acting on our behalf are
expressly qualified in their entirety by the previous statements. The
forward-looking statements herein speak as of the date of this press
release. We undertake no obligation to update any information contained
herein or to publicly release the results of any revisions to any
forward-looking statements that may be made to reflect events or
circumstances that occur, or that we become aware of, after the date of
this press release.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150522005968/en/
Contacts:
American Midstream Partners, LP.
Investor Contact:
Allysa
Howell, 303-942-2359
Investor Relations Manager
AHowell@AmericanMidstream.com
Source: American Midstream Partners, LP
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