Enterprise Products Partners cancels plans for oil pipeline from Bakken to Cushing – HBJ

Amid falling oil prices, Enterprise Products Partners LP (NYSE: EPD) has decided not to move forward with a proposed pipeline.The 1,200-mile pipeline would have carried crude from the Bakken shale formation from North Dakota to Cushing, Oklahoma.”Commitments received from potential shippers during the recent open season were not sufficient to support the project,” Enterprise stated on Dec. 12. Oil prices sank below $60 a barrel this week.

via Enterprise Products Partners cancels plans for oil pipeline from Bakken in North Dakota to Cushing, Oklahoma – Houston Business Journal.

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