DALLAS, Nov. 14, 2014 /PRNewswire/ -- Sacagawea Pipeline Company, LLC ("SPC"), an affiliate of Paradigm Energy Partners, LLC ("Paradigm") today announced the extension of the Open Season for its Sacagawea Pipeline Project.
I. Extension Of Open Season
On October 14, 2014, Sacagawea Pipeline Company, LLC ("Sacagawea"), an affiliate of Paradigm Energy Partners, LLC ("Paradigm"), announced a Binding Open Season process to assess interest in transportation service on the Sacagawea Pipeline. The Open Season was scheduled to conclude at 5:00 p.m. Central Time on Friday November 14th, 2014.
In response to the Open Season Notice, Paradigm has received substantial expressions of interest in the Project. Pursuant to the invitation in the Open Season Notice, Paradigm has also received positive requests for additional and different services related to the Project, some of which could entail modifications to the Project itself and/or, modification of the proposed rate structure for the Project, as well as requests for modifications of certain of the proposed contractual terms and proposed Tariff provisions.
In order to afford Paradigm and interested shippers additional time to address these issues and to execute binding commitments, Paradigm is announcing the extension of the Open Season for an additional thirty-one (31) days, until 5:00 p.m. Central Time on Monday, December 15, 2014.
II. Future Postings
Should Paradigm make substantial or material changes to the Project, or material modifications of the proposed terms of the TSA, the proposed Tariff, the proposed rates, or offer different or additional services, including additional Origination and/or Destination Points, Paradigm will provide a further Notice of such changes and service offerings, will post the relevant documents, and provide a further extension of the Open Season to enable all potential shippers and interested parties an opportunity to assess the changes and additional services. Potential shippers and interested parties are encouraged to monitor future postings on the Project website, http://www.paradigmmidstream.com/openseason, for communications respecting the Project.
III. Additional Information
Potential shippers and interested parties desiring additional information regarding the Project or this Open Season Extension Notice are encouraged to contact:
The issuance of this Notice of Open Season Extension does not constitute a commitment on the part of Sacagawea to proceed with any transaction. This Notice is not intended to form the basis of any investment decision by a potential shipper and should not be considered as a recommendation by Sacagawea or any affiliate of Sacagawea with respect to the Project. In furnishing this Notice, Sacagawea shall not be obliged to provide the recipients of this Notice with any additional information, to update this Notice, or to correct any inaccuracies herein which may become apparent. Sacagawea reserves the right to amend or replace this Notice at any time, and the information contained in this Notice is subject to change or amendment without notice.
Sacagawea may at any time conduct discussions and negotiations with any number of prospective shippers and on any basis with any prospective shippers as it or they consider appropriate, including different classes of service, terms and conditions, rates and volumes for different prospective shippers, provided that any final service offerings, terms and conditions of service and rates are made available to all similarly situated shippers on a not unduly discriminatory basis. Any changes to the terms of this Notice will be reflected on the Open Season webpage (accessed via the link found on Sacagawea's website), without prior notice, and interested parties are solely responsible for following such changes without further notification by Sacagawea. Negotiations may be withdrawn and discontinued with respect to any or all prospective shippers at any time, and any or all proposals or offers may be rejected at any time without any obligation or liability by Sacagawea or any affiliate of Sacagawea.
In each case above Sacagawea may act in its sole and absolute discretion without giving any reasons and without any liability or obligation of any kind. In no circumstance shall Sacagawea or any affiliate of Sacagawea, or any of their respective directors, officers, employees, agents, attorneys, advisers and representatives be responsible for any costs or expenses incurred by any recipient of this Notice, or for any other liability, howsoever arising, incurred by any recipient, in each case, in connection with any investigation or evaluation of the Project or this Open Season Notice.
The Project, including the pipeline configuration, is subject to revision after the conclusion of the extended Open Season Period. Prior to the time that all TSAs are returned to Sacagawea by prospective Committed Shippers and have been fully executed by both the Committed Shippers and Sacagawea, Sacagawea further reserves the right, in its sole discretion, to (1) modify any of the Open Season terms, including the applicable rates, if necessary, as indicated by economic, engineering design, environmental, legal, or other factors, or (2) decide not to proceed with the transportation service commitment terms offered in the TSA and the Open Season. In such an event, Sacagawea will notify all interested shippers as soon as reasonably practicable.
The Open Season procedures, this Notice and the Open Season Documents are informal marketing documents, and they establish no contractual relationship between or among Sacagawea or any of its affiliates and any party who receives them. The Open Season procedures are intended to be used solely for the Project and are not intended to be in lieu of the requirements of FERC or any applicable federal or state laws.
About Sacagawea Pipeline Company, LLC
Sacagawea Pipeline Company, LLC ("SPC") is an affiliate of Paradigm Energy Partners, LLC. SPC is a joint venture between Paradigm and Grey Wolf Midstream LLC, an affiliate of Missouri River Resources. Paradigm and Grey Wolf entered into a partnership to pursue the development, construction and ownership of the Sacagawea Pipeline Company, LLC and related facilities to transport crude oil and natural gas from the area in and around Johnson's Corner and Keene, N.D., to Palermo and Stanley.
About Paradigm Energy Partners, LLC
Dallas-based Paradigm Energy Partners, LLC ("Paradigm") is a midstream services company formed to develop and operate oil and gas infrastructure and related facilities. Paradigm is focused on the development of midstream assets in the Bakken Shale in North Dakota and Eagle Ford Shale in South Texas. Paradigm's business philosophy is focused on finding creative solutions for its customers and excellence in project execution. Visit www.paradigmmidstream.com for more information.
SOURCE Paradigm Energy Partners, LLC