Noble, Plains All American Finalize Advantage Pipeline Deal
Noble Midstream Partners and Plains All American Pipeline completed the $133 million acquisition of the Advantage Pipeline through a newly formed 50/50 joint venture.
Noble Midstream serves as the operator of the Advantage system, which includes a 70-mile crude oil pipeline in the southern Delaware Basin, from Reeves County to Crane County, TX. The pipeline has150,000 bpd shipping capacity, expandable to over 200,000 bpd, and 490,000 bbls of storage capacity.
In addition to existing customers, throughput growth is expected from an acreage dedication from Noble Energy and a volume commitment from Plains Marketing. Connections to the Advantage Pipeline from Noble Midstream’s first central gathering facility and Plain’s Wolfbone Ranch Station remain on schedule for completion in the second quarter of this year.
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