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Anadarko Joins Magellan Midstream and Plains All American to Build Saddlehorn Pipeline

Magellan Midstream Partners, March 23, 2015

Magellan Midstream Partners  and Plains All American Pipeline, L.P. have announced that a wholly owned subsidiary of Anadarko Petroleum Corporation has exercised its option to purchase a 20% equity interest in Saddlehorn Pipeline Company. As a result of today’s announcement, the equity ownership in Saddlehorn will be 40% Magellan, 40% Plains and 20% Anadarko. 

Saddlehorn is a limited liability company that will construct, own and operate the Saddlehorn pipeline, an approximately 550-mile pipeline that will transport various grades of crude oil from the DJ Basin, and potentially the broader Rocky Mountain area resource plays, to storage facilities in Cushing, OK owned by Magellan and Plains. The 20-inch pipeline will have an ultimate capacity to transport up to 400,000 barrels per day (bpd), but the initial capacity of the Saddlehorn pipeline is expected to be closer to 200,000 bpd.  

The project is currently estimated to cost between $800 million and $850 million. Magellan will serve as construction manager and pipeline operator of the Saddlehorn system. Subject to receipt of necessary permits and regulatory approvals, the Saddlehorn pipeline is expected to be operational during mid-2016.  

 

Click here to read the full article from Magellan Midstream Partners.


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