Houston, June 05, 2019 (GLOBE NEWSWIRE) -- Zydeco Pipeline Company LLC (Zydeco), jointly owned by Shell Midstream Partners, L.P. (NYSE: SHLX) and Shell Pipeline Company LP (SPLC), announced the successful conclusion of its binding open season, which resulted in the pipeline being fully subscribed, with contracts ranging from 18 to 60 months.
“We are pleased with the response to Zydeco’s open season,” said Kevin Nichols, CEO of Shell Midstream Partners. “Zydeco is strategically positioned to meet the demand in the U.S. Gulf Coast region, and is the only pipeline connecting Houston to St. James with export capability out of LOOP. These new contracts speak to the competitiveness of the pipeline and the value that it provides to shippers, owners, and unitholders.”
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About Shell Midstream Partners, L.P.
Shell Midstream Partners, headquartered in Houston, Texas, is a growth-oriented master limited partnership that owns, operates, develops and acquires pipelines and other midstream assets. Our assets include interests in entities that own crude oil and refined products pipelines and terminals that serve as key infrastructure to (i) transport onshore and offshore crude oil production to Gulf Coast and Midwest refining markets and (ii) deliver refined products from those markets to major demand centers. Our assets also include interests in entities that own natural gas and refinery gas pipelines which transport offshore natural gas to market hubs and deliver refinery gas from refineries and plants to chemical sites along the Gulf Coast.
About Shell Pipeline Company LP
For 100 years, Shell Pipeline Company LP has helped meet America’s energy needs. SPLC transports more than 1.5 billion barrels of crude oil and refined products annually through thousands of miles of pipelines located in five states. As a wholly-owned subsidiary of Shell Oil Products US, a unit of Shell Oil Company, SPLC is part of one of the world’s leading energy companies, which has been a prominent participant in America’s energy industry for a century. SPLC operates an integrated network of trunk lines, interconnects and terminals safely, efficiently and dependably – key factors in keeping the commodities SPLC carries more affordable for the people who count on them.
Important Information Relating to Shell Midstream Partners’ Forward-Looking Statements
This press release includes various “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. You can identify our forward-looking statements by words such as “anticipate”, “believe”, “estimate”, “expect”, “forecast”, “goals”, “objectives”, “outlook”, “intend”, “plan”, “predict”, “project”, “risks”, “schedule”, “seek”, “target”, “could”, “may”, “should” or “would” or other similar expressions that convey the uncertainty of future events or outcomes. In accordance with “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, these statements are accompanied by cautionary language identifying important factors, though not necessarily all such factors, which could cause future outcomes to differ materially from those set forth in forward-looking statements. In particular, expressed or implied statements concerning future growth, future actions, volumes, capital requirements, conditions or events, future operating results or the ability to generate sales, income or cash flow or the amount of distributions are forward-looking statements. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future actions, conditions or events and future results of operations may differ materially from those expressed in these forward-looking statements. Forward-looking statements speak only as of the date of this press release, June 5, 2019, and we disclaim any obligation to update such statements for any reason, except as required by law. All forward-looking statements contained in this document are expressly qualified in their entirety by the cautionary statements contained or referred to in this paragraph. More information on these risks and other potential factors that could affect the Partnership’s financial results is included in the Partnership’s filings with the U.S. Securities and Exchange Commission, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Partnership’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filing. If any of those risks occur, it could cause our actual results to differ materially from those contained in any forward-looking statement. Because of these risks and uncertainties, you should not place undue reliance on any forward-looking statement. The Partnership undertakes no obligation to update publicly or to revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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Source: Shell Midstream Partners, L.P.