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EPIC Midstream today annouced that Diamondback Energy has signed on as a shipper on the EPIC Crude Oil Pipeline. Diamondback will have 50 thousand barrels of oil per day (MBbl/d) of capacity on the EPIC Crude Oil Pipeline. As a strategic partner, Diamondback, via its subsidiary Rattler Midstream LLC, will also have an option to acquire up to 5% of the equity in the EPIC Crude Oil Pipeline, with the option expiring in the first quarter of 2019.
The company noted that other shippers sign up for some 200 Mbb/d of capacity as well.
EPIC said it has now secured 425 Mbbl/d of capacity originating from Permian basin.
The company previously announced that Apache and Noble have committed to anchor the Crude oil Pipeline with 75 Mbbl/d and 100 Mbbl/d of capacity, respectively.
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