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BP MIDSTREAM PARTNERS LP

(BPMP)
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BP MIDSTREAM PARTNERS LP : Other Events, Financial Statements and Exhibits (form 8-K)

09/20/2021 | 09:01am EST

Item 8.01 Other Events.

Operators of Gulf of Mexico pipelines in which BP Midstream Partners ("BPMP" or the "Partnership") has interests, as well as operators of production facilities connected to these pipelines, including BPMP's sponsor, bp, continue to assess the impacts of Hurricane Ida.


bp provides updates on its website at
https://www.bp.com/en_us/united-states/home/news/storm-center.html.

On September 20, 2021, Shell Pipeline Company, L.P., the operator of the Mars, Proteus and Endymion pipelines, in which BPMP owns interests, issued the following update relevant to BPMP:

"Shell Midstream Partners, L.P. (NYSE:SHLX) ("Shell Midstream Partners" or the "Partnership") and Shell Pipeline Company LP ("SPLC") have substantially completed Hurricane Ida impact assessments on most of their owned or operated assets in the Gulf of Mexico and onshore Louisiana. The Partnership can report the following at this time:

•The Partnership's operated pipelines, including ... Proteus, Endymion, ... have been returned to normal operating service after successfully completing all needed safety and stand-up tests.

•Mars: Shell Offshore Inc. and SPLC have conducted a comprehensive damage assessment on the West Delta-143 ("WD-143") offshore facilities.

•Due to the damage discovered, it is estimated that some parts of the WD-143 facilities will be offline for repairs into Q4 2021 and other parts until the end of Q4 2021. This damage will impact the Partnership's ability to provide service to shippers until such repairs are completed.

•Given the timeline for repairs to WD-143, the Partnership expects throughput to resume from the Olympus platform at some point in Q4 2021 and from the Mars and Ursa facilities at some point in Q1 2022.

Shell Midstream Partners carries several insurance policies in kinds and amounts customary to the industry, which may offset some costs of any asset damage and business losses. The Partnership's business interruption insurance related to lost revenue is expected to begin after sixty days of downtime. The Partnership intends to file all appropriate claims.

The Partnership will continue to provide updates on the company website, www.shellmidstreampartners.com, as information becomes available.

Shell Midstream Partners' primary focus continues to be the safety of its affiliates' employees and the protection of the environment."

BPMP owns a 28.5% interest in Mars and a 65.0% interest in the Mardi Gras Transportation System Company, LLC, which holds a 65% interest in each of Proteus and Endymion. BPMP also owns 22.7% of the Ursa pipeline, which feeds into the Mars pipeline. The Partnership will make additional public disclosures when appropriate to do so.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.
Number              Description
                    Cover Page Interactive Data File - the cover page interactive data file
                    does not appear in the Interactive Data File because its XBRL tags are
104                 embedded within the Inline XBRL document













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© Edgar Online, source Glimpses

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