Plains announced plans to build 45 miles of new crude oil pipeline to complement its existing pipeline infrastructure for the Mississippian Lime reserve area. The project, which includes the construction of 150,000 barrels of new storage capacity, will extend to an oil terminal in Cushing, Okla.
The new pipeline should go into service during the first quarter of 2014.
In a separate statement Tuesday, the company said it planned a series of pipeline projects for the Permian shale area in western Texas. The company said it would invest as much as $500 million in infrastructure designed to keep pace with rising production volumes for the area.
The U.S. Energy Department said the Permian Basin in West Texas holds more than 20 of the 100 largest oil fields in the United States.
Combined, the four projects planned by Plains could transport more than 1 million barrels of crude oil per day. The projects will be completed in stages and last through early 2015.