Tallgrass Energy Partners, LP To Develop New Terminal

Tallgrass Energy Partners, LP said Monday that, through its subsidiaries Tallgrass Terminals, LLC and Tallgrass Pony Express Pipeline, LLC, it has entered into an agreement with Saddle Butte Pipeline to develop the Tallgrass Grasslands Terminal. The terminal will be located in the heart of the Platteville, Colo., oil terminal complex and will interconnect with Saddle Butte’s Denver-Julesburg Basin crude oil gathering system. Pending the successful conclusion of the Pony Express Pipeline’s recently announced open season, the Tallgrass Grasslands Terminal will serve as a new pipeline origin for the Pony Express Platteville Extension. The Platteville Extension is expected to have an ultimate takeaway capacity of at least 80,000 barrels of crude oil per day and is expected to be in service Q2 2018.

Separately, the partnership said it has entered into a $1.75 billion second amended and restated credit agreement with Wells Fargo Bank, as administrative agent and collateral agent, and a syndicate of lenders. The amended credit agreement amends and restates Tallgrass Energy Partners’ existing revolving credit facility and extends the maturity date from May 13, 2018 to June 2, 2022.

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