Page 12 - NorthAmOil Week 09 2021

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mmcf/d of temporarily shut-in production
at the end of the third quarter, and seven
new well connections in September, partially
offset by modest volume throughput declines
in other reportable segments. Throughput
volumes for the Ohio Gathering segment
increased by 42 mmcf/d, net to Summit, or
21.3% over the third quarter of 2020, due to
the return of substantially all temporarily
shut-in production and higher volumes from
15 new wells that were connected late in
the third quarter. Quarterly liquids volume
throughput increased by 2.9% over the third
quarter of 2020, primarily due to eight new
wells that were turned in line during the
quarter.
SUMMIT MIDSTREAM PARTNERS, March 04,
2021
capacity will be determined based upon idled pump station on its Colorado Springs
the results of the open season, with service Pipeline system. This effectively increased Blueknight closes sale
anticipated to commence by June 1, 2021. the pipeline’s transportation capacity by
BRIDGER PIPELINE AND SEAHORSE PIPELINE, approximately 6,000 bpd of refined products, of crude oil terminalling
March 04, 2021 including gasoline, diesel and jet fuel into
the Colorado Springs and Denver markets, business and completes
NuStar announces pipeline both of which had lost supply due to a recent transition to pure-play
refinery closure in Wyoming.
capacity expansion project NUSTAR ENERGY, March 03, 2021 infrastructure terminalling

for Albuquerque Market Summit Midstream Partners

NuStar Energy today announced a plan to reports fourth-quarter 2020 company
develop incremental pipeline capacity that will Blueknight Energy Partners announced today
allow for the delivery of approximately 6,000 financial and operating that it has closed its previously-announced
barrels per day (BPD) of additional refined sale of its crude oil terminalling segment to
products, including gasoline, diesel and jet results and confirms 2021 Enbridge for a purchase price of $132mn,
fuel, into the Albuquerque, NM region. subject to customary post-closing adjustments
NuStar will upgrade pump stations on a financial guidance and excluding crude oil linefill and inventory.
pipeline system it jointly owns with Phillips 66 Including the previously-announced
Partners that transports refined products from Summit Midstream Partners announced today sale of its crude oil pipeline and trucking
Amarillo, Texas to Albuquerque. In addition its financial and operating results for the three segments, both of which closed in February
to increasing capacity on the system, the months ended December 31, 2020, including 2021, Blueknight has successfully completed
project will install larger and more efficient net income of $103.0mn, adjusted EBITDA of an exit of its crude oil business, strategically
electric pumps and a modern, efficient, diesel- $61.8mn and DCF of $44.8mn. Net income positioning the Partnership as a pure-
driven pump, providing for higher flow while for the quarter included a $124.1mn gain from play terminalling company focused on
reducing emissions by eliminating two diesel- early extinguishment of debt related to the infrastructure and transportation end-
driven pump stations. The project is expected open market repurchase of senior unsecured markets.
to be completed by mid-2022. notes and the consensual debt discharge and “Exiting our crude oil businesses has
“The Albuquerque Pipeline upgrades will restructuring of a subsidiary’s $155.2mn term been a top priority for Blueknight since
help ensure ample refined product supply loan, partially offset by non-cash charges for early 2020,” said Andrew Woodward, chief
for the market which has lost production a $17.0mn loss contingency and a $5.1mn executive officer. “Now with a more focused
due to a recent refinery closure in the state,” asset impairment related to an $8.0mn sale strategy and business model, coupled with
said NuStar President and CEO Brad Barron. of compressor equipment, which closed in an improved leverage profile and available
“Working with Phillips 66 Partners, we are January 2021. liquidity, we believe we are well-positioned to
excited that we can provide this additional Fourth quarter 2020 operated natural gas identify and capture growth opportunities and
capacity for our shippers and the region while volume throughput averaged 1,436mn cubic benefit from long-term positive investment
also achieving the environmental benefits this feet per day (mmcf/d) and liquids volume trends in US infrastructure.”
project provides.” throughput averaged 71,000 barrels per day. Total cash consideration for the combined
Barron also noted that this project Operated natural gas volumes increased crude oil terminalling, pipeline, and trucking
announcement comes on the heels of another by 3.2% relative to the third quarter of transactions was approximately $164mn,
project in a neighbouring region that resulted 2020, largely due to a volume increase of 91 including estimated crude oil linefill and
in increased supply for Colorado. In August mmcf/d in the Utica Shale segment from inventory and is subject to customary post-
2020, NuStar completed the reactivation of an a combination of a customer returning 22 closing adjustments. Net proceeds, after

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