“We’re constantly evaluating how we can make best use of our assets and put them into crude oil service if possible,” Rogers said. “We’ve been repurposing assets, expanding storage, getting increased capacity and reversing pipelines. It’s a great time to be in the midstream business. These challenges for moving crude oil are a great opportunity for us on the midstream side.”
The rich supply of oil, natural gas and natural gas liquids also has led to renewed interest from chemical companies — and the pipeline companies that serve them.
Denver-based DCP Midstream over the past three years has invested $6 billion in infrastructure upgrades.
“Five years ago, if you had asked petrochemical companies where they would invest, the U.S. would not have been on their radar,” said Richard Bradsby, vice president of DCP’s mid-continent business unit. “Today, five world-scale crackers (chemical plants) are under construction along the Gulf Coast, and another dozen facilities are also being enhanced.”