Energy Transfer Partners, L.P. (NYSE:ETP) announced that:
“Dakota Access, LLC (“Dakota Access”) has received an easement from the U.S. Army Corps of Engineers (“Army Corps”) to construct a pipeline across land owned by the Army Corps on both sides of Lake Oahe in North Dakota. The release of this easement by the Army Corps follows a directive from President Donald Trump to the Department of the Army and the Army Corps to take all necessary and appropriate steps that would permit construction and operation of the Dakota Access Pipeline, including easements to cross federal lands. With this action, Dakota Access now has received all federal authorizations necessary to proceed expeditiously to complete construction of the pipeline.”
The Dakota Access Pipeline consists of approximately 1,172 miles of new 30-inch diameter crude oil pipeline from North Dakota to Patoka, Illinois, and the Energy Transfer Crude Oil Pipeline consists of more than 700 miles of existing pipeline that has been converted to crude oil service from Patoka to Nederland, Texas. The two pipelines (together, the “Bakken Pipeline”) are expected to be in service in the second quarter of 2017. Continue reading "'Bakken Pipeline' Could Ramp-Up U.S. Crude Production Faster-Than-Expected"