DALLAS, June 19, 2017 /PRNewswire/ -- The EnLink
Midstream companies (EnLink), EnLink Midstream Partners, LP (NYSE:
ENLK) (the Partnership or ENLK) and EnLink Midstream, LLC
(NYSE: ENLC) (the General Partner or ENLC), today announced that a
subsidiary of EnLink entered into a long-term, fee-based agreement
with a subsidiary of ONEOK Inc. to move natural gas liquids (NGLs)
from EnLink's premier Central
Oklahoma position to EnLink's Cajun-Sibon platform and the
Mont Belvieu trading and storage
hub.
NGL volumes from EnLink's Chisholm processing complex will
directly connect to EnLink's Louisiana franchise, allowing EnLink to
preferentially fill its Cajun-Sibon platform and providing new
access to the growing Gulf Coast NGL hub. EnLink's Central Oklahoma
NGLs will be transported through ONEOK's Arbuckle and Sterling
systems, which ONEOK plans to expand by the end of 2018 to handle
the incremental volumes. The flexibility built into the agreement
benefits EnLink's long-term strategic growth plan by allowing
EnLink to retain control of volumes and optimize current operations
and future opportunities. The deal is immediately accretive to
EnLink's earnings and requires no incremental capital
expenditures.
"This arrangement provides a solution to move NGLs from EnLink's
premier position in prolific Central
Oklahoma to our demand-driven Louisiana system and other Gulf Coast demand
centers, through a long-term, attractive agreement with ONEOK,"
said Barry E. Davis, EnLink Chairman
and Chief Executive Officer. "The agreement gives us physical
connections from Chisholm directly to Cajun-Sibon via the ONEOK
systems, which will enhance the performance and reliability of our
platform. We evaluated many options to move NGLs to the Gulf Coast,
including building our own pipeline, and this deal was the most
economic, secure, and flexible for EnLink and our customers."
This arrangement provides an immediate NGL transportation
solution that allows EnLink to appropriately plan for processing
capacity expansions to match producer volume growth. Volume
commitments in this agreement scale only as EnLink adds processing
capacity.
About the EnLink Midstream Companies
EnLink provides integrated midstream services across natural
gas, crude oil, condensate, and NGL commodities. EnLink
operates in several top U.S. basins and is strategically focused on
the core growth areas of the Permian's Midland
and Delaware basins, Oklahoma's Midcontinent,
and Louisiana's Gulf Coast. Headquartered in Dallas,
EnLink is publicly traded through EnLink Midstream,
LLC (NYSE: ENLC), the General Partner, and EnLink
Midstream Partners, LP (NYSE: ENLK), the Master Limited
Partnership. Visit www.EnLink.com for more information on how
EnLink connects energy to life.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws. These statements are
based on certain assumptions made by the Partnership and the
General Partner based upon management's experience and perception
of historical trends, current conditions, expected future
developments, and other factors that the Partnership and the
General Partner believe are appropriate in the circumstances. These
statements include, but are not limited to, statements with respect
to the arrangement's expected financial results, the arrangement's
characteristics, the arrangement's expected impact on the
Partnership's other assets, and timing for the arrangement
discussed above, as well as the Partnership's future growth and
results of operations. Such statements are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the
control of the Partnership and the General Partner, which may cause
the Partnership's and the General Partner's actual results to
differ materially from those implied or expressed by the
forward-looking statements. These risks include, but are not
limited to, risks discussed in the Partnership's and the General
Partner's filings with the Securities and Exchange Commission. The
Partnership and the General Partner have no obligation to publicly
update or revise any forward-looking statement, whether as a result
of new information, future events or otherwise.
Investor Relations: Kate
Walsh, Vice President of Investor Relations, 214-721-9696,
kate.walsh@enlink.com
Media Relations: Jill
McMillan, Vice President of Public & Industry
Affairs, 214-721-9271, jill.mcmillan@enlink.com
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SOURCE EnLink Midstream