Spectra Energy Corporation
) has announced an open season, which started on Jun 5, 2013 and
will continue till Aug 9, 2013, for the shipment of crude oil on
the Express pipeline from Hardisty, Alberta with the termination
point in Wood River, Illinois.
The open season will serve at all points along the Express
pipeline system, including a new planned interconnection to a
rail terminal under development in Casper, Wyoming. The service
is expected to commence as early as Oct 1, 2013.
The open season on the recently acquired Express pipeline will
continue to meet the demands of its refinery customers as well as
help in developing its customer base. With the rising oil
shipment requirement in the region, the Express pipeline is
advantageously positioned to secure this growth opportunity.
The Express-Platte system extends up to 1,717 mile. The system
consists of the Express and Platte crude oil pipelines. It is one
of the three key pipeline systems that transfer crude oil from
western Canada to Rockies and Midwest refineries and markets.
Spectra purchased the Express-Platte system in Mar 2013 and
proposed to transfer the asset to Spectra Energy Partners - its
master limited partnership.
Spectra Energy, through its subsidiaries and equity
affiliates, engages in the ownership and operation of a portfolio
of complementary natural gas-related energy assets. The company
operates in four segments: U.S. Transmission, Distribution,
Western Canada Transmission & Processing, and Field Services.
The company also has 50% ownership in DCP Midstream, one of the
largest natural gas gatherers and processors in the
Spectra carries a Zacks Rank #3 (Hold). However, Zacks Ranked
#1 (Strong Buy) stocks -
Gulfmark Offshore, Inc.
) - are expected to perform impressively over the short term.
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