Louisville KY - (GLOBE NEWSWIRE) - On February 6, 2019, Genscape, the world’s leading provider of real-time data and intelligence for commodity and energy markets, captured the first evidence showing the Seminole-Red pipeline was operable for crude oil transportation. Genscape’s proprietary images showed one of the two turbines associated with the Coupland, TX, pumping station were active, confirming the pipeline was functional, at least under limited capacity. In January 2019, the pipeline operator, Enterprise Products, announced plans to convert part of the 280,000 barrel per day (bpd) natural gas liquids (NGL) pipeline to help address growing bottlenecks in the nation’s biggest oil patch, the Permian Basin. Once fully operational, tentatively scheduled for the April 2019, the Seminole-Red pipeline will serve as critical crude transport down to Houston.
Understanding the transportation landscape out of the Permian Basin is especially important as Genscape expects Permian crude production to grow by 450,000 bpd by August 2019. "The Permian Basin continues to dominate U.S. oil market discussions as the differentials to Cushing, OK, and Houston have actually narrowed in recent weeks despite increasing supply, said Oil Transportation Manager, Ryan Saxton. "The utilization of this newly converted pipeline will be of significant interest to the U.S. crude market."
Genscape’s oil team provides periodic activity updates on the Seminole-Red pipeline and captures infrastructure changes in real-time. For trial requests and expanded product information, click here.
Founded in 1999, Genscape is a pioneer in real-time data delivery driven to improve market transparency and efficiency. Today, Genscape operates the world’s largest private network of in-field monitors and distributes industry-leading alternative data. Genscape delivers unsurpassed market intelligence across the commodity and energy spectrum including power, oil, natural gas, petrochemical and natural gas liquids, agriculture, biofuels, and maritime freight.
© 2019 GlobeNewswire, Inc. All Rights Reserved.