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Tallgrass secures oil throughput deal with Continental Resources through 2024

The largest customer of Tallgrass Energy Partners LP subsidiary Tallgrass Pony Express Pipeline LLC has elected to exercise its contractual right to extend its throughput and deficiency agreements to ship crude oil with Pony Express and Belle Fourche Pipeline Co. through Oct. 31, 2024.

The agreements, previously set to expire Oct. 31, 2019, according to a Dec. 28 news release.

"Pony Express is capable of transporting approximately 400,000 bbl/d, and has just over 300,000 bbl/d currently contracted," said David Dehaemers Jr., President and CEO of Tallgrass Energy. "This extension fills a portion of the pipeline’s available capacity from the Bakken and for a term of five years beyond the initial contract term, solidifying Pony Express’s long-term position in the crude oil transportation market."

Beginning Jan. 1, 2018, new uncommitted rates on the joint tariff of Belle Fourche, Pony Express and Bridger Pipeline LLC will be established, resulting in certain committed rates on the joint tariff being adjusted on the same date. These joint tariff committed rates will initially be $3.75 per barrel for Williston basin origin points and $2.86 per barrel for Guernsey, Wyo., origin points on Pony Express.