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Tallgrass (TEP) Declares Open Season for Cheyenne Connector
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Midstream oil firm, Tallgrass Energy Partners, LP recently declared an open season for its Cheyenne Connector pipeline that links Denver-Julesburg ("DJ") Basin to Rockies Express Pipeline’s Cheyenne Hub, which is located south of the Colorado-Wyoming border.
Previously, Tallgrass Energy had inked agreements with subsidiaries of Anadarko Petroleum Corporation and DCP Midstream, LP to transport 600 million cubic feet of gas per day (MMcf/d) through the pipeline, which is expected to come online in the third quarter of 2019.
Importance of the Pipeline
Gas production in the DJ basin is expected to rise substantially by 2020, which will increase the demand for pipelines.
Previously, Kinder Morgan, Inc. (KMI - Free Report) unit, Colorado Interstate Gas Company enjoyed the maximum share of DJ Basin's production. Production from the basin could get affected by capacity constraints of Colorado Interstate. We believe that The Cheyenne Connector can use the situation to its advantage by providing shippers more outlets to reach their target markets.
About the Pipeline
The Cheyenne Connector will be 70 miles long with a large diameter and significant expansion capability. The pipeline is being developed by Tallgrass with the help of Western Gas Partners and DCP Midstream. Both Tallgrass’ partners have the right to invest in the pipeline at a later date. The Federal Energy Regulatory Commission is yet to approve the project.
About Tallgrass and Zacks Rank
Tallgrass owns, operates, acquires and develops midstream energy assets primarily in North America. It provides natural gas transportation and storage services for customers in the Rocky Mountain and Midwest regions of the United States through pipelines and natural gas processing assets. The partnership is based in Overland Park, KS.
Tallgrass has gained 1.3% year to date compared with 3.5% growth of its industry.
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Tallgrass (TEP) Declares Open Season for Cheyenne Connector
Midstream oil firm, Tallgrass Energy Partners, LP recently declared an open season for its Cheyenne Connector pipeline that links Denver-Julesburg ("DJ") Basin to Rockies Express Pipeline’s Cheyenne Hub, which is located south of the Colorado-Wyoming border.
Previously, Tallgrass Energy had inked agreements with subsidiaries of Anadarko Petroleum Corporation and DCP Midstream, LP to transport 600 million cubic feet of gas per day (MMcf/d) through the pipeline, which is expected to come online in the third quarter of 2019.
Importance of the Pipeline
Gas production in the DJ basin is expected to rise substantially by 2020, which will increase the demand for pipelines.
Previously, Kinder Morgan, Inc. (KMI - Free Report) unit, Colorado Interstate Gas Company enjoyed the maximum share of DJ Basin's production. Production from the basin could get affected by capacity constraints of Colorado Interstate. We believe that The Cheyenne Connector can use the situation to its advantage by providing shippers more outlets to reach their target markets.
About the Pipeline
The Cheyenne Connector will be 70 miles long with a large diameter and significant expansion capability. The pipeline is being developed by Tallgrass with the help of Western Gas Partners and DCP Midstream. Both Tallgrass’ partners have the right to invest in the pipeline at a later date. The Federal Energy Regulatory Commission is yet to approve the project.
About Tallgrass and Zacks Rank
Tallgrass owns, operates, acquires and develops midstream energy assets primarily in North America. It provides natural gas transportation and storage services for customers in the Rocky Mountain and Midwest regions of the United States through pipelines and natural gas processing assets. The partnership is based in Overland Park, KS.
The partnership has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Price Performance
Tallgrass has gained 1.3% year to date compared with 3.5% growth of its industry.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>