Magellan Midstream Partners, L.P. and Occidental Petroleum Corporation reported a one-week extension of their binding open season initiated on June 11, 2012 to solicit capacity commitments from shippers to transport crude oil from Colorado City, Texas to the Houston Gulf Coast area on the proposed BridgeTex Pipeline. Binding commitments are now due on July 18, 2012.

As previously announced, Magellan and Occidental are jointly assessing customer interest to transport up to 278,000 barrels per day of crude oil from Colorado City to Texas City. The project includes approximately 400 miles of newly-constructed pipeline from Colorado City to Houston and an expansion by Magellan of its distribution system between East Houston and Texas City. Subject to sufficient commitments from shippers and necessary permits and regulatory approvals, the proposed BridgeTex Pipeline is expected to begin service by mid-2014.

Tags: Magellan Midstream Partners, Occidental Petroleum Corporation