Phillips 66 and Bridger Pipeline to Construct Liberty Pipeline
Phillips 66 (NYSE: PSX ) and Bridger Pipeline LLC (Bridger) announced that they have formed a 50/50 joint venture, Liberty Pipeline LLC, and are proceeding with construction of the Liberty Pipeline (Liberty). The 24-inch pipeline will provide crude oil transportation service from the Rockies and Bakken production areas to Cushing, Oklahoma. From Cushing, shippers can access multiple Gulf Coast destinations, including Corpus Christi, Ingleside, and Houston, Texas. Liberty is underpinned with long-term shipper volume commitments. Initial service on the pipeline is targeted to commence as early as the first quarter of 2021, subject to receipt of applicable permits and regulatory approvals.
The Liberty Pipeline presents us with a great opportunity to serve producers in the growing Bakken and Rockies production areas, said Greg Garland, chairman and CEO of Phillips 66. The pipeline adds to our integrated infrastructure network that serves the key shale oil producing regions with connectivity to major Gulf Coast market centers. Our pipeline network has strategic alignment with our Central Corridor and Gulf Coast refineries, further enhancing value across our assets.
The Liberty Pipeline is an important undertaking on the part of our company to ensure that oil from Wyoming, the Rockies and the Bakken can get to markets in the U.S. and around the world, said Hank True, president of Bridger Pipeline LLC. Our commitment to the Liberty Pipeline will give producers confidence to grow oil production in these important regions.
Phillips 66 will lead project construction on behalf of the joint venture and will operate the pipeline. Where feasible, Liberty will utilize existing pipeline and utility corridors and advanced construction techniques to limit environmental and community impact. The project is expected to cost approximately $1.6 billion.
The joint venture plans to hold a supplemental binding open season to be announced at a later date that will enable additional shippers to enter into long-term transportation services agreements.
About Phillips 66
Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the companys master limited partnership, is integral to the portfolio. Headquartered in Houston, the company has 14,300 employees committed to safety and operating excellence. Phillips 66 had $58 billion of assets as of March 31, 2019. For more information, visit http://www.phillips66.com or follow us on Twitter @Phillips66Co. CAUTIONARY STATEMENT FOR THE PURPOSES OF THE “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Words and phrases such as is anticipated, is estimated, is expected, is planned, is scheduled, is targeted, believes, continues, intends, will, would, objectives, goals, projects, efforts, strategies and similar expressions are used to identify such forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements relating to Phillips 66s operations (including joint venture operations) are based on managements expectations, estimates and projections about the company, its interests and the energy industry in general on the date this news release was prepared. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include fluctuations in NGL, crude oil, and natural gas prices, and petrochemical and refining margins; unexpected changes in costs for constructing, modifying or operating our facilities; unexpected difficulties in manufacturing, refining or transporting our products; lack of, or disruptions in, adequate and reliable transportation for our NGL, crude oil, natural gas, and refined products; potential liability from litigation or for remedial actions, including removal and reclamation obligations under environmental regulations; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets; the impact of adverse market conditions or other similar risks to those identified herein affecting PSXP, as well as the ability of PSXP to successfully execute its growth plans; and other economic, business, competitive and/or regulatory factors affecting Phillips 66s businesses generally as set forth in our filings with the Securities and Exchange Commission. Phillips 66 is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
About Bridger Pipeline LLC and its affiliated pipeline companies
Bridger Pipeline LLC, Belle Fourche Pipeline Company, and Butte Pipe Line Company are part of True companies and are based in Casper, WY. Bridger Pipeline LLC owns and operates the Poplar System in eastern Montana, the Four Bears Pipeline System in North Dakota, the Parshall Gathering System and the Powder River System in Wyoming. Belle Fourche Pipeline Company gathers and transports crude oil in the Williston Basin of western North Dakota and the Powder River Basin of Wyoming, and Butte Pipe Line Company owns the transmission line from Baker, Montana to Guernsey, Wyoming. For more information visit www.truecos.com .
Wacom and Icron Jointly Announce Video and USB Product Interoper
Wacom’s Cintiq Pro creative pen displays achieve extended reach of DisplayPort 4Kp60 4:4:4 and USB 3-2-1 connections up to 100m over a single CAT 6a/7 cable using Icron’s ExtremeUSB-C Maverick extension platform
SAN JOSE, Calif. – June 11,
Icron, the developer of ExtremeUSB-C extension technology, and Wacom Co. LTD., providers of industry-leading creative pen tables and pen displays, today jointly announced product interoperability between Wacom’s Cintiq Pro 4K creative pen display, including the Wacom Pro Pen 2, and Icron’s Maverick 63104 extender system.
The Cintiq Pro delivers a 24-inch or 32-inch 4Kp60 touch display with world-class color performance and no parallax on an etched glass screen, mimicking the feel of a pen on paper. The Pro Pen 2 provides 4x more accurate and pressure-sensitive pen technology compared to previous generations, with no batteries, recharging, and virtually no perceptible lag, through a USB 3-2-1 interface.
Icron’s Maverick 63104 is the world’s only backward-compatible USB 3.1 and DisplayPort 4Kp60 4:4:4 real-time video and USB extender system supporting distances up to 100m over a single CAT 6a/7 cable, making it ideal for use with Wacom Cintiq products when standard cable distances are not enough. It includes the ExtremeUSB-C suite of features such as transparent USB extension, true plug-and-play operation with no software drivers required and compatibility with all major operating systems, including Windows, macOS, Linux and Chrome OS.
“The Cintiq Pro product line pairs the most natural, accurate, creative pen experience with superb color accuracy and a natural feel,” said Joe Sliger, senior technical solutions manager at Wacom. “Real-time performance is also required for a good user experience, and interoperability with Icron’s Maverick 63104 technology ensures our users get desktop performance while maintaining pen precision, even if they are located a significant distance away from the computing platform.”
“Wacom has always been at the forefront of creative pen technologies, and the new Cintiq Pro product line elevates the standard once again,” said Thomas Schultz, senior business manager at Icron. “Icron is pleased to announce interoperability with the Wacom Cintiq Pro so that 4Kp60 video and USB 3.1 distance limitations won’t get in the way of deployment.”
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Visit Icron booth #4361 in West Hall Level 2 at InfoComm 2019 (June 12-14, 2019, in Orlando, Florida) to view demos and experience the latest in reliable, high-performance ExtremeUSB technology with Icron’s new USB 3-2-1 and 4Kp60 DisplayPort video extension solutions. For more information, visit Icron.com/Infocomm-2019 .
Icron is a Maxim Integrated brand, as well as the leading developer and manufacturer of high-performance USB and video extension solutions for commercial and industrial markets worldwide. Icron’s patented extension technology extends USB and video devices over many media types including CAT 5e/6/7, fiber, wireless, DisplayPort and over a corporate LAN while featuring the ExtremeUSB and ExtremeUSB-C suite of features such as transparent USB extension, true plug-and-play (no software drivers required) and compatibility with Windows, macOS, Linux and Chrome OS operating systems. Icron’s video and USB extension products are deployed in a wide range of applications including proAV, industrial automation, machine vision, medical imaging, aerospace, interactive whiteboards, digital signage, remote desktop extension, security, enterprise computing and isolated USB, or anywhere a computer needs to be remotely located from a display or peripheral device. Learn more at www.icron.com and www.maximintegrated.com .
Founded in 1983, Wacom is a global company based in Japan with subsidiaries and affiliate offices around the world to support marketing and distribution in over 150 countries and areas. It is the world’s leading manufacturer of pen tablets, interactive pen displays and digital interface solutions. The advanced technology of Wacom’s intuitive input devices has been used to create some of the most exciting digital art, films, special effects, fashion and designs around the world and provides business and home users with their leading interface technology to express their personality. The company also offers its products as OEM solutions to leading manufacturers serving incremental markets. Wacom’s interface technology, called Wacom Feel IT technologies, is also offered as an integrated solution to strategic partners. Most tablet device and PC manufacturers count on their advanced features and reliability to deliver a superior user interface experience. For further information about the products of Wacom, see www.wacom.com .
Wacom and Icron Jointly Announce Video and USB Product Interoperability