HOUSTON, TX--(Marketwired - Dec 15, 2016) - Enbridge Pipelines (Ozark) L.L.C., a subsidiary of Enbridge Energy Partners, L.P. (NYSE: EEP) ("the Partnership"), announces a binding open season that begins today for its proposed expansion of the Enbridge Ozark Pipeline (Enbridge Ozark).
Enbridge Ozark, which runs from Cushing, Oklahoma, to Wood River, Illinois, proposes to expand the capacity of the pipeline by increasing horsepower at pump stations and adding drag reducing agents (DRAs) to the crude petroleum. The in-service date of the expansion is expected to be during the second quarter of 2018.
The open season provides an opportunity for interested shippers to support the expansion by making firm commitments for a minimum ten-year term. Subject to regulatory approval by the Federal Energy Regulatory Commission (FERC), committed volumes will not be subject to pro-rationing to accommodate uncommitted volumes under ordinary operating conditions. In order to provide financial support for the expansion, the volume commitment of any existing historical shipper on Enbridge Ozark would be in addition to the shipper's historical shipments of crude petroleum on Enbridge Ozark.
Open Season Process
The binding open season period will begin at 4 p.m. Central Time on December 15, 2016, and will end at 1 p.m. Central Time on January 19, 2017.
Bona fide potential shippers that wish to receive access to the Open Season documents, including the Transportation Services Agreement, are required to execute a Confidentiality Agreement. No edits or amendments to the Confidentiality Agreement will be accepted.
For details about the open season please visit Ozark.enbridge.com
About Enbridge Energy Partners, L.P.
Enbridge Energy Partners, L.P. owns and operates a diversified portfolio of crude oil and, through its interests in Midcoast Energy Partners, L.P. ("Midcoast Partners"), natural gas transportation systems in the United States. Its principal crude oil system is the largest pipeline transporter of growing oil production from western Canada and the North Dakota Bakken formation. The system's deliveries to refining centers and connected carriers in the United States account for approximately 23 percent of total U.S. oil imports. Midcoast Partners' natural gas gathering, treating, processing and transmission assets, which are principally located onshore in the active U.S. Mid-Continent and Gulf Coast areas, deliver approximately 2.0 billion cubic feet of natural gas daily.
This news release includes forward-looking statements and projections, which are statements that do not relate strictly to historical or current facts. These statements frequently use the following words, variations thereon or comparable terminology: "anticipate," "believe," "consider," "continue," "could," "estimate," "expect," "explore," "evaluate," "forecast," "intend," "may," "opportunity," "plan," "position," "projection," "should," "strategy," "target," "will" and similar words. Although the Partnership believes that such forward-looking statements are reasonable based on currently available information, such statements involve risks, uncertainties and assumptions and are not guarantees of performance. Future actions, conditions or events and future results of operations may differ materially from those expressed in these forward-looking statements. Many of the factors that will determine these results are beyond the Partnership's ability to control or predict. Specific factors that could cause actual results to differ from those in the forward-looking statements include: (1) changes in the demand for or the supply of, forecast data for, and price trends related to crude oil, liquid petroleum, natural gas and NGLs, including the rate of development of the Alberta Oil Sands; (2) the ability of the Partnership or its joint venture partners, as applicable, to successfully complete and finance projects, including the Bakken Pipeline transaction; (3) the effects of competition, in particular, by other pipeline systems; (4) shut-downs or cutbacks at the Partnership's facilities or refineries, petrochemical plants, utilities or other businesses for which the Partnership transports products or to whom the Partnership sells products; (5) hazards and operating risks that may not be covered fully by insurance, including those related to Line 6B and any additional fines and penalties assessed in connection with the crude oil release on that line; (6) costs in connection with complying with the settlement consent decree related to Line 6B and Line 6A, which is still subject to court approval, and/or the failure to receive court approval of, or material modifications to, such decree; (7) changes in or challenges to the Partnership's tariff rates; (8) changes in laws or regulations to which the Partnership is subject, including compliance with environmental and operational safety regulations that may increase costs of system integrity testing and maintenance; and (9) permitting at federal, state and local levels in regards to the construction of new assets.
"Enbridge" refers collectively to Enbridge Inc. and its subsidiaries other than the Partnership and our subsidiaries.
Except to the extent required by law, we assume no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Reference should also be made to the Partnership's filings with the U.S. Securities and Exchange Commission (the "SEC"), including its Annual Report on Form 10-K for the year ended December 31, 2015 and any subsequently filed Quarterly Report on Form 10-Q for additional factors that may affect results. These filings are available to the public over the Internet at the SEC's web site (www.sec.gov) and at the Partnership's web site.