Enterprise to Further Expand Delaware Basin Network with New Natural Gas Processing Plant
June 20 2016 - 8:30AM
Business Wire
Enterprise Products Partners L.P. (NYSE: EPD) today announced
plans to build a new cryogenic natural gas processing facility and
associated natural gas and natural gas liquids (“NGL”) pipeline
infrastructure to facilitate continued growth of NGL-rich natural
gas production in the Delaware Basin of West Texas and southeastern
New Mexico. The site for the new processing plant, which will have
a nameplate capacity of 300 million cubic feet per day (“MMcf/d”)
and the capability to extract more than 40,000 barrels per day of
NGL, has yet to be determined. The project is anchored by long-term
commitments from a major producer. The facility is expected to
begin service in the second quarter of 2018.
“This project, which complements our ongoing growth in the
region, is the third cryogenic natural gas processing plant
Enterprise has announced in less than 24 months,” said A.J. “Jim”
Teague, chief executive officer of Enterprise’s general partner.
“The South Eddy facility began operations earlier this year, while
our joint venture processing plant at Waha is expected to begin
service in the third quarter of 2016. Altogether, these initiatives
are expected to increase our processing capacity in the Delaware
Basin to 800 MMcf/d, compared to 40 MMcf/d in 2012.”
In addition to providing new gas processing capabilities, the
scope of the project will include construction of rich natural gas
gathering lines, a residue pipeline to Waha and an NGL pipeline to
Enterprise’s Mid-America Pipeline system. These assets will be
designed to integrate with the rest of the company’s Delaware Basin
infrastructure.
Teague added, “The continued growth of Enterprise’s Delaware
Basin network, and its integration with the rest of our systems,
offers additional value-added options, as well as access to the
most attractive domestic and international markets. For Enterprise,
the expanded Delaware Basin facilities create efficient bolt-on
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 49,000 miles of pipelines; 250 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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160620005178/en/
Enterprise Products Partners L.P.Randy Burkhalter, (713)
381-6812 or (866) 230-0745Investor RelationsorRick Rainey, (713)
381-3635Media Relations
Enterprise Products Part... (NYSE:EPD)
Historical Stock Chart
From Mar 2024 to Apr 2024
Enterprise Products Part... (NYSE:EPD)
Historical Stock Chart
From Apr 2023 to Apr 2024