Tallgrass Energy, LP (NYSE: TGE), through its affiliate Tallgrass Pony Express Pipeline, LLC (Pony Express), today announced a new project to support crude oil production in northern Weld County, Colorado, near the border between Wyoming and Colorado. The Hereford Project will include approximately 30 miles of new 12-inch pipeline, as well as expanded capacity on the Pony Express system.
Sufficient interest arose during Pony Express existing open season for expansion capacity from origin points in Colorado and Wyoming to destinations along the system to justify the Hereford Project as a stand-alone project.
The new 30-mile pipeline, the Hereford Lateral, will connect crude oil gathering facilities and/or terminal facilities near Hereford, Colorado, with existing Pony Express facilities located near the Pawnee origin facility in Weld County. Pony Express expects the Hereford Lateral to be in-service by July 2019, and the expansion capacity on the existing Pony Express system to be in-service by May 2020 “ both ahead of the larger Pony Express system expansion announced Jan. 22, 2019.
Pony Express is launching a limited open season to allow interested parties the opportunity to commit to the Hereford Project. The Hereford Open Season will run from May 1, 2019, to May 15, 2019. The deadline for bids is May 15, 2019.
Interested parties may review details of the open season after executing a confidentiality agreement obtained by contacting Kyle Quackenbush, 303.763.3319, Andrew DiPaolo, 303.763.3329, or Dean Dick, 307.232.4430.
About Tallgrass Energy
Tallgrass Energy, LP (NYSE: TGE) is a growth-oriented midstream energy infrastructure company operating across 11 states with transportation, storage, terminal, water, gathering and processing assets that serve some of the nations most prolific crude oil and natural gas basins.
To learn more, please visit our website at www.tallgrassenergy.com.
Cautionary Note Concerning 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 the feasibility, cost, execution, in-service timing, capabilities, and expected benefits of the Hereford Lateral and Pony Express expansion projects. Forward-looking statements may also include the expectations of plans, strategies, objectives and growth and anticipated financial and operational performance of TGE and its subsidiaries, including: the ability to pursue expansions and other opportunities for incremental volumes; natural gas and crude oil production growth in TGE’s operating areas; expected future benefits of acquisitions or expansion projects; timing of anticipated spending on planned expenses and maintenance capital projects; and distribution rate and growth, including variability of quarterly distribution coverage. These statements are based on certain assumptions made by TGE based on management’s experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of TGE, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include risks relating to TGE’s financial performance and results, availability of sufficient cash flow to pay dividends and execute its business plan, the demand for natural gas storage, processing and transportation services and for crude oil transportation services, operating hazards, the effects of government regulation, tax position and other risks incidental to transporting, storing and processing natural gas or transporting crude oil and other important factors that could cause actual results to differ materially from those projected, including those set forth in reports filed by TGE with the Securities and Exchange Commission. Any forward-looking statement applies only as of the date on which such statement is made and TGE 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.