Plains All American Pipeline LP (NYSE: PAA) and Delek Logistics Partners LP (NYSE: DKL) formed a joint venture (JV) through Caddo Pipeline LLC, Plains said March 23. The company will develop the 80-mile, 12-inch Caddo Pipeline.
The pipeline will move up to 80,000 barrels of crude oil from Longview, Texas, to Shreveport, La. It will begin in Longview at Plains’ Atlas terminal, taking crude to Shreveport-area refineries and Delek’s pipeline system supplying the Delek US Holdings (NYSE: DK) El Dorado, Ark., refinery.
Houston-based Plains will construct and operate the pipeline, and each company is 50/50 in the JV.
The project is expected to cost about $100 million, and the pipeline is scheduled to be completed in mid-2016.
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