Sunoco Logistics plans hydrotest work on Permian pipeline in Q3

• Sunoco Logistics Partners (SXL -0.6%) will execute the final phase of integrity hydrotest work on its 280K bbl/day Mid-Valley pipeline system during Q3 to restore the crude line to full capability, the company says in its earnings conference call.
• The pipeline, which originates in Longview, Tex., passes through Louisiana and terminates in the midwest, had the first phase of work on Mid-Valley, along with the 300K bbl/day West Texas Gulf pipeline, in mid May.
• SXL also says West Texas crude delivered to Midland, Tex., was trading at a $1/bbl premium to WTI at Cushing, Okla., a "market anomaly" that will increase pressure on its lease business in Q3.
• Earlier: Sunoco Logistics EPS of $0.83