A Houston-based pipeline partnership said Tuesday it will build a 130-mile pipeline to transport crude oil from the western region of the Eagle Ford shale to Corpus Christi and other Gulf Coast markets.
Plains All American Pipeline LP said it also will build a marine terminal and 11/2 million barrels of storage capacity to service growing Eagle Ford production.
The project is expected to cost $330 million and be completed in the fourth quarter of 2012. The pipeline will be capable of handling 300,000 barrels of oil a day from the Eagle Ford shale, the vast play that underlies 24 counties from East Texas to the border. Plains also said it has signed a long-term agreement with a subsidiary of Chesapeake Energy Corp. to transport its oil to the Gulf Coast. It said Chesapeake Midstream Development LP will have the opportunity to acquire as much as a 25 percent interest in the project.
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