Oil giant Exxon Mobil Corp. and Plains All American Pipeline have agreed to build a pipeline to transport crude from the Permian Basin to the Texas Gulf Coast.

by Irving-based Exxon Mobil and Plains All American, with headquarters in Houston, did not include financial details.

Both companies have signed a letter of intent to transport crude oil and condensate from sites in West Texas. The pipeline would originate in both Wink and Midland, with delivery points in Webster, Baytown and Beaumont.

The companies say the goal would be to ship more than 1 million barrels per day. Officials plan to use existing pipeline corridors to help limit potential community and environmental disruptions.

Further details weren't immediately released.