Posted: February 1, 2019 |
Long Beach, February 1, 2019 – Crimson Midstream, LLC (Crimson), today confirmed it has signed a Sale and Purchase Agreement (SPA) with Shell Pipeline Company LP (Shell) to buy its California crude pipeline systems. Approximately 600 miles of active, idled and abandoned pipelines including the San Pablo Bay Pipeline Company and the proprietary crude lines in California are included in this transaction. The sale of the company is subject to regulatory approval and is expected to be completed in 2019.
Crimson Midstream and MPLX Announce Extension of Binding Open Season for Swordfish Pipeline to Align with Capline Reversal Open Season
Posted: January 31, 2019 | Press Release
LONG BEACH, California, Jan. 31, 2019 – Crimson Midstream, LLC and MPLX LP (NYSE: MPLX) today announced an extension to the binding open season on the Swordfish Pipeline to align with the recently announced binding open season by Capline Pipeline Company LLC. Additionally, the Louisiana Offshore Oil Port (LOOP) recently confirmed the loading of three VLCCs in seven days from the deepwater port and stated the number of vessels loaded can be scaled to meet increasing market demand.
The Carlyle Group Makes a Strategic Investment in Crimson Midstream, a Provider of Crude Oil Transportation and Storage Services
Posted: January 14, 2019 | Press Release
Investment to Accelerate Crimson’s Growth and Increase U.S. Crude Producers’ Access to Global Markets
WASHINGTON, DC – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announces it has made a strategic equity investment in Crimson Midstream Holdings, LLC (Crimson), a provider of crude oil transportation and storage services that operates more than 2,000 miles of pipeline in the U.S. transporting approximately 400,000 barrels of crude oil per day. This strategic partnership will help enhance Crimson’s support of shippers on its Gulf of Mexico, Louisiana and California pipeline systems and grow its presence in these regions and beyond as demand for U.S. crude export infrastructure increases. Carlyle’s Global Infrastructure Opportunity Fund provided the equity for this investment.
Posted: November 29, 2018 | Press Release
LONG BEACH, California, Nov. 29, 2018 – Since the Swordfish Pipeline binding open season was announced on Oct. 17 by Crimson Midstream, LLC and MPLX LP (NYSE: MPLX), the Louisiana Offshore Oil Port LLC (LOOP) terminal facility in Clovelly, Louisiana reports that customer requests concerning its deepwater port export capabilities have risen sharply. In addition, LOOP has stated that the number of vessels loaded can be scaled to meet increasing market demand. To allow prospective shippers sufficient time to evaluate this new information and to account for the holiday season, Crimson and MPLX today announced an extension to a binding open season to continue to assess interest and solicit commitments from prospective shippers for transportation service on the Swordfish Pipeline.
Posted: October 17, 2018 | Press Release
LONG BEACH, California, Oct. 17, 2018 – Crimson Midstream, LLC, and MPLX LP (NYSE: MPLX), today announced the commencement of a binding open season to assess interest and solicit commitments from prospective shippers for transportation service on the Swordfish Pipeline.
The Swordfish Pipeline is being jointly developed by Crimson and MPLX to provide connectivity from existing terminal facilities in St. James, Louisiana, and Raceland, Louisiana, to the Louisiana Offshore Oil Port LLC (LOOP) terminal facility in Clovelly, Louisiana. The proposed pipeline would be a multi-diameter batched system with the ability to transport up to 600,000 barrels of crude oil per day and provide shippers with access to storage services, vessel loading, as well as connectivity to other carriers at the Clovelly Hub. The in-service date for the Swordfish Pipeline is anticipated to be in the first half of 2020.