Houston, May 24, 2019 (GLOBE NEWSWIRE) — Shell Midstream Partners, L.P. (NYSE: SHLX) announced today that the systems owned by Proteus Oil Pipeline Company LLC (“Proteus”) and Endymion Oil Pipeline Company LLC (“Endymion”) increased volumes of crude oil from the startup of the Shell-operated Appomattox floating production system via the newly commissioned Mattox Pipeline (“Mattox”), which is majority owned and operated by Shell Pipeline Company LP (“SPLC”). Shell Midstream Partners owns a 10% interest in each of Proteus and Endymion.
“The Gulf of Mexico remains an important part of the US production story – as evidenced by these new volumes,” said Kevin Nichols, CEO, Shell Midstream Partners. “Over the last three years, most of the 19 sanctioned projects across the Gulf of Mexico flow through our systems, giving us the ideal position to capture growth. Our offshore corridor strategy is working – and we are pleased with the resilience and growth that the Gulf of Mexico provides.”
Appomattox, which currently has an expected production of 175,000 boe/d, achieved first oil on May 23, 2019. The Mattox Pipeline is transporting oil from Appomattox into the Proteus and Endymion systems which ultimately connect to onshore markets via the Clovelly, LA storage hub.
# # #
Shell Midstream Partners, L.P. owns a 10.0% interest in Proteus, which owns the Proteus pipeline system. Other owners in Proteus are BP Midstream Partners, L.P. (42.25%) and an affiliate of BP Plc (22.75%) through their joint ownership of Mardi Gras Transportation System Company LLC and ExxonMobil Pipeline Company (25.00%). SPLC is the operator of Proteus. The Proteus pipeline system provides transportation for multiple oil producers in the eastern Gulf of Mexico. The pipeline provides access to the Mississippi Canyon area of the Gulf of Mexico.
Shell Midstream Partners, L.P. owns a 10.0% interest in Endymion, which owns the Endymion pipeline system. Other owners in Endymion are BP Midstream Partners, L.P. (42.25%) and an affiliate of BP Plc (22.75%) through their joint ownership of Mardi Gras Transportation System Company LLC and ExxonMobil Pipeline Company (25.00%). SPLC is the operator of Endymion.
About Mattox Pipeline:
Mattox is a 90-mile, 24-inch system with a 300,000 barrels per day capacity that will move the produced crude oil from Appomattox westward to the Proteus and Endymion pipeline systems then onshore. Mattox is jointly owned by SPLC and CNOOC Petroleum Sales U.S.A. Inc., an indirectly wholly-owned subsidiary of CNOOC Limited.
About Shell Midstream Partners, L.P.
Shell Midstream Partners, L.P., headquartered in Houston, Texas, is a growth-oriented master limited partnership that owns, operates, develops and acquires pipelines and other midstream assets. Our assets include interests in entities that own crude oil and refined products pipelines and terminals that serve as key infrastructure to (i) transport onshore and offshore crude oil production to Gulf Coast and Midwest refining markets and (ii) deliver refined products from those markets to major demand centers. Our assets also include interests in entities that own natural gas and refinery gas pipelines which transport offshore natural gas to market hubs and deliver refinery gas from refineries and plants to chemical sites along the Gulf Coast.
FORWARD LOOKING STATEMENTS
This press release includes various “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. You can identify our forward-looking statements by words such as “anticipate”, “believe”, “estimate”, “expect”, “forecast”, “goals”, “objectives”, “outlook”, “intend”, “plan”, “predict”, “project”, “risks”, “schedule”, “seek”, “target”, “could”, “may”, “should” or “would” or other similar expressions that convey the uncertainty of future events or outcomes. In accordance with “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, these statements are accompanied by cautionary language identifying important factors, though not necessarily all such factors, which could cause future outcomes to differ materially from those set forth in forward-looking statements. In particular, expressed or implied statements concerning future growth, future actions, closing and funding of the acquisitions, volumes, capital requirements, conditions or events, future impact of prior acquisitions, future operating results or the ability to generate sales, income or cash flow or the amount of distributions are forward-looking statements. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future actions, conditions or events and future results of operations may differ materially from those expressed in these forward-looking statements. Forward-looking statements speak only as of the date of this press release, May 24, 2019, and we disclaim any obligation to update such statements for any reason, except as required by law. All forward-looking statements contained in this document are expressly qualified in their entirety by the cautionary statements contained or referred to in this paragraph. More information on these risks and other potential factors that could affect the Partnership’s financial results is included in the Partnership’s filings with the U.S. Securities and Exchange Commission, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Partnership’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filing. If any of those risks occur, it could cause our actual results to differ materially from those contained in any forward-looking statement. Because of these risks and uncertainties, you should not place undue reliance on any forward-looking statement. The Partnership undertakes no obligation to update publicly or to revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Shell Media Relations: +1 832 337 4355
Shell Investor Relations North America: +1 832 337 2034
* SHELL and the SHELL Pecten are registered trademarks of Shell Trademark Management, B.V. used under license.
Latest posts by GlobeNewswire (see all)
- Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Verb Technology Company, CannTrust Holdings, Realogy Holdings, and Reckitt Benckiser and Encourages Investors to Contact the Firm - July 17, 2019
- Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Floor & Decor Holdings, PriceSmart, RCI Hospitality Holdings, and Livent Corporation and Encourages Investors to Contact the Firm - July 17, 2019
- Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Beazer Homes USA, Ascena Retail Group, Ra Medical Systems, and Kingstone Companies and Encourages Investors to Contact the Firm - July 17, 2019