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The Dakota Access pipeline consists of approximately 1,172 miles of new 30-inch diameter crude oil pipeline from North Dakota to Patoka, Illinois, and the Energy Transfer Crude Oil Pipeline consists of more than 700 miles of existing pipeline that has been converted to crude oil service from Patoka to Nederland, Texas. The two pipelines (together, the \u201cBakken Pipeline\u201d) are expected to be in service in the second quarter of 2017.<\/p>\n
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With the receipt of the easement, ETP expects to complete approximately $2.6 billion of committed debt financing and equity transactions within the next several days, including access to the remaining $1.4 billion of the previously announced $2.5 billion project financing for Dakota Access and $1.2 billion from the closing of the previously announced sale by ETP of a minority interest in the Bakken Pipeline to MarEn Bakken Company LLC.<\/p>\n
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Energy Transfer Partners, L.P. (NYSE: ETP) is a master limited partnership that owns and operates one of the largest and most diversified portfolios of energy assets in the United States. ETP\u2019s subsidiaries include Panhandle Eastern Pipe Line Company, LP (the successor of Southern Union Company) and Lone Star NGL LLC, which owns and operates natural gas liquids storage, fractionation and transportation assets. In total, ETP currently owns and operates more than 62,500 miles of natural gas and natural gas liquids pipelines. ETP also owns the general partner, 100% of the incentive distribution rights, and approximately 67.1 million common units of Sunoco Logistics Partners L.P. (NYSE: SXL), which operates a geographically diverse portfolio of pipelines, terminalling and acquisition and marketing assets. ETP recently acquired the general partner, 100% of the incentive distribution rights, and an approximate 65% limited partnership interest in PennTex Midstream Partners, LP (Nasdaq: PTXP), which is a growth-oriented master limited partnership that provides natural gas gathering and processing and residue gas and\u00a0natural gas liquids transportation services to producers in northern Louisiana. ETP\u2019s general partner is owned by Energy Transfer Equity, L.P. (NYSE: ETE). For more information, visit the Energy Transfer Partners, L.P. website at www.energytransfer.com.<\/p>\n