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NuStar Energy L.P. Message Board

  • moneyonomics moneyonomics Mar 4, 2013 8:53 PM Flag

    NS indicated not material to operations, was "a purported withdrawal, appears to be over take or pay terms being negotiated-part 3

    From 4th quarter earnings presentation

    " ...In 2013, the transportation segment continues to integrate some of the crude oil assets purchased from TexStar. By the end of 2013, we planned to finish the construction of a crude oil terminal located along the 12 inch line acquired from TexStar in the Eagle Ford and complete the construction of two additional crude oil gathering line of our supply crude to the 12 inch line also in the Eagle Ford.

    After the anticipated first quarter 2013, closing on the NGL phase of the TexStar midstream services transaction. We expect to spend around $330 million in 2013 and early in ‘14 connecting Y-grade pipelines and constructing two fractionators...."

    " ...Brian Zarahn - Barclays Capital

    You’ve only had the asset for a little while, but can you talk about the performance maybe in terms of volumes of the Eagle Ford crude pipe.
    Curt Anastasio - President & CEO

    Yes, it’s going even better than expected and I will turn it over to Danny Oliver, our Senior VP for Business Development to expand on that.
    Danny Oliver - SVP, Marketing & Business Development

    Sure, well as you may remember this TexStar line and the lines that we've contributed to that project are really the third line that we have going into Eagle Ford service. But that one in particular running about $70,000 barrels a day on that line alone today. That's just ahead of expectations. We expect to be near $100,000 barrels a day some time here in the next month or two, probably March.
    Brian Zarahn - Barclays Capital

    Okay and then on the NGL assets, can you give a little more color as to where discussions are with shippers on contracts.
    Danny Oliver - SVP, Marketing & Business Development

    Yeah, we are completing final negotiations on many of those agreements. It entails both the supply of the Y-grade also the off take of the purity grades and then of course we have to finish constructing the fractionators, the two fractionators exist are being refurbished and reconstructe

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