Energy Transfer eyes Bakken oil pipeline capacity expansion to 570K bbl/day

|About: Energy Transfer LP (ET)|By:, SA News Editor

Energy Transfer (ET +2%) says it plans to expand capacity on the Dakota Access pipeline system to as much as 570K bbl/day from ~525K bbl/day currently.

"Recent differentials and continued basin growth highlights the need for additional takeaway capacity out of the basin," CFO Thomas Long said during today's earnings conference call.

ET in October launched an open season looking to expand capacity on the vital pipeline that runs from North Dakota to Illinois and eventually to Texas.

ET also said all three Permian Express lines are now operating at full capacity, as the final 50K bbl/day of Permian Express 3 capacity went into service in September to bring the total capacity of Permian Express 3 to 140K bbl/day.

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