Bloomberg News

Enbridge Spearhead, Ozark Oil Lines Oversubscribed in July

June 27, 2012

Enbridge Inc. (ENB)’s Spearhead pipeline was oversubscribed by 93.5 percent for July oil shipments, the company said in an e-mail.

Calculated capacity on the line is 184,481 barrels a day and nominations totaled 2.67 million, Larry Springer, a Houston- based company spokesman, said in an e-mailed statement. The company’s Ozark pipeline is apportioned by 95.1 percent for the same period.

New shippers on Spearhead will have their nominations cut to 10 percent of line capacity, according to a new rule, the company said in the e-mail. Under application of the new rule, the pipeline is apportioned 59.2 percent for July.

August Spearhead shipments are oversubscribed by 96.8 percent based on nominations of 5.57 million barrels a day, for calculated capacity of 182,682 barrels a day the company said. Under the new rule, the pipe is apportioned 80.3 percent for the month.

Calculated capacity on the Ozark pipeline for July shipments is 232,258 barrels a day and nominations were 4.51 million barrels a day, the company said.

The Ozark pipeline carries oil from Cushing, Oklahoma, to Wood River, Illinois. The Spearhead line transports crude from Flanagan, Illinois, to Cushing.

To contact the reporter on this story: Aaron Clark in New York at aclark27@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net


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