Noble Midstream and Greenfield Midstream buy 20% of Saddlehorn Pipeline project in Oklahoma
Noble Midstream Partners LP and Greenfield Midstream LLC have exercised the option to acquire a 20% interest in the Saddlehorn Pipeline through its Black Diamond Gathering LLC joint venture.
The Saddlehorn Pipeline, which is jointly owned by affiliates of Magellan Midstream Partners, L.P., Plains All American Pipeline, L.P. and Western Midstream Partners, LP, is currently capable of transporting approximately 190,000 barrels per day (Bbl/d) of crude oil and condensate from the DJ and Powder River Basins to storage facilities in Cushing, Oklahoma. Magellan serves as operator of the Saddlehorn pipeline.
Following a successful open season, the Saddlehorn Pipeline is expanding by 100,000 Bbl/d, to a new total capacity of 290,000 Bbl/d. The incremental capacity is expected to be available in late 2020 following the addition of incremental pumping and storage capabilities. There will be no additional capital required by Black Diamond in 2020 for the expansion of the pipeline.
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