ExxonMobil and Plains All American Pipeline have agreed to form a joint venture to construct a pipeline to transport crude oil and condensate from multiple locations in the Permian basin to the Texas Gulf Coast

Pipeline sunset.

Image: A pipeline project. Photo: courtesy of outgunned21/Freeimages.com.

The proposed common carrier pipeline would be designed to ship more than 1 million barrels of crude oil and condensate per day, providing a safe, efficient and cost-effective option to transport ExxonMobil and other third-party production to market destinations in Texas.

The pipeline would originate in both Wink and Midland, Texas with delivery points in Webster, Baytown and Beaumont, Texas. A priority would be placed on using existing pipeline corridors to help limit potential community and environmental disruptions.

Source: Company Press Release