Oklahoma's Cushing Glut Slowly Eases While Awaiting New Pipeline Capacity from the North

SUGAR LAND--May 13, 2014--Researched by Industrial Info Resources (Sugar Land, Texas)--The 450,000-barrel-per-day (BBL/d) Seaway II pipeline, owned and operated by Enterprise Products Partners LP (NYSE:EPD) (Houston) and Enbridge Incorporated (NYSE:ENB) (Calgary, Alberta), was expected to be brought online in February 2014, but it has been pushed back to this summer. TransCanada Corporation's (NYSE:TRP) (Calgary) 500,000-BBL/d Keystone XL (KXL) pipeline, which also would bring oil into Cushing, Oklahoma, has been even further delayed. Cushing's bottleneck may be relieved for far longer than previously expected, as takeaway capacity outstrips incoming capacity for the next several months.

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