Saddle Butte Pipeline: Oil company withdraws application for New Mexico pipeline

FARMINGTON, N.M. (AP) - The Bureau of Land Management says an oil company with plans to build a pipeline in New Mexico capable of moving 50,000 barrels of crude oil a day has withdrawn its application for the project.Saddle Butte San Juan, LLC, sent a letter to the agency saying that market conditions led to the decision to withdraw the right of way application for the Pinon pipeline system.The project would have been be made up of smaller pipelines that would gather oil at well pads and other points.Read more on NewsOK.com