American Midstream Partners, LP (AMID) (“American Midstream” or “Partnership”) announced today that one of its subsidiaries has received approval from the Federal Energy Regulatory Commission to place the Midla Natchez Pipeline (“Pipeline”) into service. Approval to construct the Pipeline was granted in December 2015. The 55-mile, 12-inch Pipeline extends from Winnsboro, Louisiana to Natchez, Mississippi with capacity to deliver 50,000 dekatherms/day. The Pipeline is supported by multiple, long-term firm transportation agreements with key customers. The Pipeline has three receipt points from Locust Ridge Gas Company, Columbia Gas Transmission and Tennessee Gas Pipeline. There are twelve delivery points to local distribution and manufacturing facilities including Louisiana Municipal Gas Authority, BASF Corporation and ATMOS Energy Corporation. The project was financed with $60 million of 3.77% senior secured notes due June 30, 2031 that were issued by subsidiaries of the Partnership in September 2016 and are non-recourse to the Partnership.
“This $60 million project was undertaken as a commitment to provide safe and reliable energy transportation service to our customers and to the communities we operate,” said Lynn Bourdon, President and Chief Executive Officer of American Midstream. “Additionally, this project will provide the ability to deliver new and incremental volumes to existing and future customers, developing a foundation for further growth in the region. With line fill underway, we are excited to commence service and begin deliveries to our customers in the near future.”
About American Midstream Partners, LP
American Midstream Partners, LP is a growth-oriented limited partnership formed to provide critical midstream infrastructure that links producers of natural gas, crude oil, NGLs, condensate and specialty chemicals to end-use markets. American Midstream’s assets are strategically located in some of the most prolific onshore and offshore basins in the Permian, Eagle Ford, East Texas, Bakken and Gulf Coast. American Midstream owns or has an ownership interest in approximately 4,000 miles of interstate and intrastate pipelines, as well as ownership in gas processing plants, fractionation facilities, an offshore semisubmersible floating production system with nameplate processing capacity of 80 MBbl/d of crude oil and 400 MMcf/d of natural gas; and terminal sites with approximately 6.7 MMBbls of storage capacity.
For more information about American Midstream Partners, LP, visit www.americanmidstream.com.
Forward Looking Statements
This press release includes forward-looking statements. These statements relate to, among other things, projections of operational volumetrics and improvements, growth projects, cash flows and capital expenditures. We have used the words "anticipate,” "believe," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "should," "will," "potential," and similar terms and phrases to identify forward-looking statements in this press release. Although we believe the assumptions upon which these forward-looking statements are based are reasonable, any of these assumptions could prove to be inaccurate and the forward-looking statements based on these assumptions could be incorrect.
Actual results and trends in the future may differ materially from those suggested or implied by the forward-looking statements depending on a variety of factors, which are described in greater detail in our filings with the SEC. Please see “Risk Factors” and other disclosures included in our Annual Report on Form 10-K for the year ended December 31, 2016 filed on March 29, 2016 and our other filings with the SEC. All future written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the previous statements. The forward-looking statements herein speak as of the date of this press release. We undertake no obligation to update any information contained herein or to publicly release the results of any revisions to any forward-looking statements that may be made to reflect events or circumstances that occur, or that we become aware of, after the date of this press release.