Plains All American and Enterprise Products Announce Eagle Ford Joint Venture Pipeline Expansions, New Terminal
November 04 2014 - 7:52AM
Business Wire
Constructing New Gathering System, Expanding
Mainline between Three Rivers and Corpus Christi and Constructing
New Deep Water Terminal
Plains All American Pipeline, L.P. (NYSE: PAA) and Enterprise
Products Partners L.P. (NYSE: EPD) today announced that they are
constructing a new condensate gathering system into their Three
Rivers terminal and doubling the mainline capacity on the Eagle
Ford Joint Venture (JV) Pipeline from Three Rivers to Corpus
Christi. These expansions are supported by a long-term production
commitment and are expected to be placed into service in the third
quarter of 2015.
The Eagle Ford JV Pipeline system is a 50/50 joint venture
between Plains and Enterprise that delivers crude oil and
condensate via pipeline from Gardendale in La Salle County, Texas
to the Three Rivers and Corpus Christi refineries and to other
markets via marine transport facilities at Corpus Christi.
Furthermore, the pipeline supplies the Houston-area market through
a connection to the Enterprise Crude Pipeline terminal at Lyssy in
Wilson County, Texas.
As part of the expansion, Plains and Enterprise will construct a
new gathering system with approximately 55 miles of gathering and
trunkline pipeline that will connect Karnes County and Live Oak
County production areas to the Three Rivers terminal. The companies
will also construct an additional 70 mile, 20-inch pipeline from
Three Rivers to Corpus Christi as well as expand storage and
pumping capacity at Three Rivers. Combined with the previously
announced expansion, this project effectively loops the Eagle Ford
JV Pipeline from Gardendale to Corpus Christi and increases the JV
system capacity to over 600,000 barrels per day. The Eagle Ford JV
Pipeline will be connected with the Cactus pipeline, which Plains
is constructing from the Permian Basin at McCamey to the Eagle Ford
JV Pipeline at Gardendale.
Plains and Enterprise will also build a new terminal on the
Corpus Christi ship channel to support the increased volumes to be
shipped via pipeline to the region. The dock will have the
capacity to handle a variety of ocean-going vessels and is planned
to be in service by 2017.
Plains All American Pipeline, L.P. is a publicly traded master
limited partnership that owns and operates midstream energy
infrastructure and provides logistics services for crude oil,
natural gas liquids ("NGL"), natural gas and refined products. PAA
owns an extensive network of pipeline transportation, terminalling,
storage and gathering assets in key crude oil and NGL producing
basins and transportation corridors and at major market hubs in the
United States and Canada. On average, PAA handles over 3.9 million
barrels per day of crude oil and NGL on its pipelines. PAA is
headquartered in Houston, Texas.
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.
Enterprise’s services include: natural gas gathering, treating,
processing, transportation and storage; NGL transportation,
fractionation, storage and import and export terminals; crude oil
and refined products transportation, storage and terminals;
offshore production platforms; petrochemical transportation and
services; and a marine transportation business that operates
primarily on the United States inland and Intracoastal Waterway
systems and in the Gulf of Mexico. Additional information regarding
Enterprise can be found on its website,
www.enterpriseproducts.com.
Forward Looking Statements
Certain matters discussed in this release are forward-looking
statements that involve risks and uncertainties that could cause
actual results or outcomes to differ materially from results or
outcomes anticipated in the forward-looking statements. These risks
and uncertainties include, among other things, shortages, cost
increases or delays in receipt of supplies, materials or labor;
inability to obtain, delays in the receipt of, or other issues
associated with necessary licenses, permits, approvals, consents,
rights of way or other governmental or third party requirements;
the impact of current and future laws, rulings, orders,
governmental regulations, accounting standards and statements and
related interpretations; weather interference with business
operations or project construction, including the impact of extreme
weather events or conditions; environmental liabilities, issues or
events that result in construction delays or otherwise impact
targeted in-service dates; interruptions in service on third-party
pipelines or facilities; general economic, market or business
conditions and the amplification of other risks caused by volatile
financial markets, capital constraints and pervasive liquidity
concerns; and other factors and uncertainties inherent in the
transportation, storage, terminalling and marketing of crude oil
and refined products as discussed in PAA's and EPD’s respective
filings with the Securities and Exchange Commission. Except as
required by law, PAA and EPD do not intend to update or revise
their respective forward-looking statements, whether as a result of
new information, future events or otherwise.
Plains All American Pipeline, L.P.Investors:Ryan Smith,
(866) 809-1291Director, Investor RelationsorMedia:Brad
Leone, (866) 809-1290Director, CommunicationsorEnterprise Products
Partners L.P.Investors:Randy Burkhalter, (713)
381-6812—(866) 230-0745Vice President, Investor
RelationsorMedia:Rick Rainey, (713) 381-3635Vice President,
Public Relations
Plains All American Pipe... (NYSE:PAA)
Historical Stock Chart
From Mar 2024 to Apr 2024
Plains All American Pipe... (NYSE:PAA)
Historical Stock Chart
From Apr 2023 to Apr 2024