SOURCE: Tallgrass Energy

Tallgrass Energy

July 20, 2016 06:45 ET

Tallgrass Pony Express Pipeline Announces Open Season to Transport Light Crude From Colorado to Oklahoma

LEAWOOD, KS--(Marketwired - July 20, 2016) - Tallgrass Pony Express Pipeline, LLC (Pony Express) today announced a binding open season soliciting shipper commitments for light crude petroleum transportation service from the Buckingham receipt point in Weld County, Colo., on the Northeast Colorado Lateral of Pony Express to delivery points at Ponca City and Cushing, Okla., under a Local Tariff. The light crude petroleum, also known as condensate, will be batched as a fourth common quality stream on the pipeline. Participating shippers will agree to ship API gravity of not less than 48 degrees or more than 55 degrees.

Based on commitments received in this binding open season, Pony Express plans to add new capacity to provide the light crude transportation service from Colorado to Oklahoma. Pony Express expects the open season to end on Aug. 31, 2016.

Interested parties may review the details of the open season after executing a confidentiality agreement that may be obtained by contacting John Eagleton, 303.763.3226; Bob Mishler, 303.763.3319; Max Lawton, 303.763.3339; Melissa Harper, 303.763.3456; or Dean Dick, 307.234.4430.

About Tallgrass Pony Express Pipeline, LLC
Pony Express owns the Pony Express System, which is an approximately 764-mile crude oil pipeline originating in Guernsey, Wyo. and northeast Colorado, and terminating at the oil hub of Cushing, Okla. It is an important link for significant oil plays such as the Bakken, Niobrara and the Powder River Basin to markets across the country. The mainline portion of the Pony Express System was placed in service in October 2014. The Pony Express System also includes the Northeast Colorado Lateral (NECL), which interconnects with the Pony Express System mainline near Sterling, Colo., and provides incremental transportation service from the Niobrara Shale in Northeastern Colorado and Southeastern Wyoming. NECL was placed in service in Q2 2015. Additional detail regarding Pony Express is available at http://pipeline.tallgrassenergylp.com. Tallgrass Energy Partners, LP (NYSE: TEP) owns a 98 percent membership interest in Pony Express and Tallgrass Development, LP owns a 2 percent membership interest. TEP is the managing member of Pony Express.

Forward-Looking Statements

Disclosures in this press release contain forward-looking statements. All statements, other than statements of historical facts included in this press release that address activities, events or developments that management expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include Pony Express' ability to add capacity to its crude oil pipeline system. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Pony Express, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements, and other important factors that could cause actual results to differ materially from those projected. Any forward-looking statement applies only as of the date on which such statement is made and Pony Express does not intend to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

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