Oil Pipeline

March 13, 2017 Comments Off on $1B Raise Geared Toward EPIC Pipeline Views: 450 Texas News, Top Texas

$1B Raise Geared Toward EPIC Pipeline

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Three companies have combined forces to raise $1 billion to build a 730-mile oil pipeline. Dubbed EPIC, the pipeline will carry crude oil and condensate from the Permian Basin in West Texas to the Port of Corpus Christi and other drop-off points in the area. Once completed, the pipeline would have a maximum capacity of 440,000 barrels a day of crude and condensates, which is a form of ultralight crude oil.

EPIC, which stands for Eagle Ford, Permian, Ingleside and Corpus (Christi), is being built by TexStar Midstream Logistics, Castleton Commodities International and Ironwood Midstream Energy Partners. Once complete, it will be Texas’ longest pipeline in operation in close to a decade.

The companies are currently bidding out the first 200,000 barrels of pipeline capacity, but have not said when construction will start. EPIC should be operational by 2019.

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