Enterprise Signs Natural Gas Processing Agreements with Producers from Wyoming’s Green River Basin
February 23 2017 - 4:15PM
Business Wire
Enterprise Products Partners L.P. (NYSE: EPD) today announced it
has renegotiated and extended an agreement with Ultra Petroleum
Corp. to process natural gas from Ultra’s production in the
Pinedale Field in southwestern Wyoming. The agreement secures a
20-year supply of natural gas for Enterprise’s Pioneer cryogenic
processing facility in Sublette County, Wyoming.
The Pioneer cryogenic natural gas processing facility has a
total capacity of 750 million cubic feet per day (“MMcf/d”) and can
extract up to 36,000 barrels per day (“BPD”) of natural gas liquids
(“NGL”). The Pioneer complex also includes a silica gel unit that
can process 600 MMcf/d of natural gas and extract up to 1,800 BPD
of NGLs, sold as a condensate in the local market. Enterprise’s
Mid-America Pipeline provides takeaway capacity for the NGLs
extracted and offers access to the most attractive markets along
the Gulf Coast.
“We are pleased to enter into this agreement with Ultra, which
continues our relationship with one of the region’s top producers,”
said A.J. “Jim” Teague, chief executive officer of Enterprise’s
general partner. “We expect our Pioneer facility to operate at near
full capacity for the next five to ten years. In addition to
providing Enterprise with a long-term supply of NGLs for our
integrated assets, the agreement further illustrates our commitment
and capability to provide our customers with flow assurance and
reliability from the wellhead to markets.”
The Ultra agreement is the second long-term contract Enterprise
has executed with a Green River Basin producer in the past three
months to supply incremental natural gas to the company’s Pioneer
processing plant. In December 2016, Enterprise began processing
Linn Energy’s Jonah Field production. Teague added that
Enterprise’s continued investment in Gulf Coast infrastructure is
allowing producers to increase the value of their production by
providing access to growing demand for NGL feedstocks by
petrochemical plants, as well as export opportunities.
Enterprise Products Partners L.P. is one of the largest publicly
traded partnerships and a leading North American provider of
midstream energy services to producers and consumers of natural
gas, NGLs, crude oil, refined products and petrochemicals. Our
services include: natural gas gathering, treating, processing,
transportation and storage; NGL transportation, fractionation,
storage and import and export terminals; crude oil gathering,
transportation, storage and terminals; petrochemical and refined
products transportation, storage and terminals; and a marine
transportation business that operates primarily on the United
States inland and Intracoastal Waterway systems. The partnership’s
assets include approximately 49,300 miles of pipelines; 260 million
barrels of storage capacity for NGLs, crude oil, refined products
and petrochemicals; and 14 billion cubic feet of natural gas
storage capacity.
This press release includes “forward-looking statements” as
defined by the Securities and Exchange Commission. All statements,
other than statements of historical fact, included herein that
address activities, events, developments or transactions that
Enterprise and its general partner expect, believe or anticipate
will or may occur in the future are forward-looking statements.
These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially
from expectations, including required approvals by regulatory
agencies, the possibility that the anticipated benefits from such
activities, events, developments or transactions cannot be fully
realized, the possibility that costs or difficulties related
thereto will be greater than expected, the impact of competition,
and other risk factors included in Enterprise’s reports filed with
the Securities and Exchange Commission. Readers are cautioned not
to place undue reliance on these forward-looking statements, which
speak only as of their dates. Except as required by law, Enterprise
does not intend to update or revise its forward-looking statements,
whether as a result of new information, future events or
otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20170223006575/en/
Enterprise Products Partners L.P.Randy Burkhalter, 713-381-6812
or 866-230-0745Investor RelationsorRick Rainey, 713-381-3635Media
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