FERC clears EPIC pipeline rates, three others caught in backlog

|About: Buckeye Partners, L.P. (BPL)|By:, SA News Editor

The 550K bbl/day EPIC pipeline wins approval of its initial rates for shippers from the Federal Energy Regulatory Commission, which also approves three other oil pipeline cases, bringing the backlog of uncontested petitions for Permian Basin pipelines down to six.

EPIC is backed by Ares Management (NYSE:ARES) with stakes owned by Noble Midstream Partners (NYSE:NBLX), Altus Midstream (NASDAQ:ALTM) and Diamondback Energy (NASDAQ:FANG).

FERC also conditionally approves initial rates for EnLink's (NYSE:ENLC) 54K bbl/day natural gas liquids expansion from Mont Belvieu, Tex., to central Louisiana and Plantation Pipe Line's 21K bbl/day refined products expansion into Roanoke, Va., and gives outright approval to the 100K bbl/day Iron Horse pipeline in Wyoming's Powder River Basin, owned by Tallgrass Energy (NYSE:TGE) and Silver Creek Midstream.

Plains All American Pipeline's (PAA, PAGP) 585K bbl/day Cactus II pipeline is among the projects that are still waiting.

Buckeye Pipeline's (NYSE:BPL) petition to partially reverse its Laurel refined products pipeline in Pennsylvania has waited since April 2018 for a decision.

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