HOUSTON, Jan. 3, 2018 /PRNewswire/ -- American
Midstream Partners, LP (NYSE: AMID) ("AMID") announced today the
completion and commencement of deliveries on the previously
announced Cayenne Pipeline joint venture ("Cayenne") between AMID
and Targa Resources Corp. (NYSE: TRGP) ("Targa"). Cayenne will
initially have 40,000 barrels per day of Y-grade NGL transport
capacity with the ability to expand to more than 50,000 barrels per
day. Cayenne will originate from the Targa-operated Venice gas processing plant and deliver to
fractionation in Southern
Louisiana.
The commencement of Cayenne provides AMID with strategic
transport capabilities for the majority of all NGL volume out of
Gulf of Mexico's deep-water
Mississippi Canyon region where AMID has developed an integrated
gathering and transportation network. Cayenne is supported by a
15-year dedication for all NGL production from Targa's 750 MMcf/d
Venice plant with inlet from six
offshore Gulf of Mexico
pipelines.
"The commencement of Cayenne demonstrates AMID's ability
to react to market demand and simultaneously execute on highly
attractive commercial opportunities. Cayenne not only benefits
offshore producers with a substantial increase in NGL take away
capacity, but also creates meaningful value to AMID by taking an
underutilized pipeline and altering its services into a strategic
project," stated Lynn Bourdon III,
President and Chief Executive Officer.
About American Midstream Partners, LP
American Midstream Partners, LP is a growth-oriented limited
partnership formed to provide critical midstream infrastructure
that links producers of natural gas, crude oil, NGLs, condensate
and specialty chemicals to end-use markets. American Midstream's
assets are strategically located in some of the most prolific
offshore and onshore basins in the Permian, Eagle Ford,
East Texas, Bakken and Gulf Coast.
American Midstream owns or has an ownership interest in
approximately 5,100 miles of interstate and intrastate pipelines,
as well as ownership in gas processing plants, fractionation
facilities, an offshore semisubmersible floating production system
with nameplate processing capacity of 100 MBbl/d of crude oil and
240 MMcf/d of natural gas; and terminal sites with approximately
6.7 MMBbls of storage capacity.
For more information about American Midstream Partners, LP,
visit: www.americanmidstream.com. The content of our website is not
part of this release.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements
related to Cayenne's benefits, operating results and any capacity
expansion. We have used the words "could," "expect," "intend,"
"may," "will," "would" and similar terms and phrases to identify
forward-looking statements in this press release. Although we
believe the assumptions upon which these forward-looking statements
are based are reasonable, any of these assumptions could prove to
be inaccurate and the forward-looking statements based on these
assumptions could be incorrect. Many of the factors that will
determine these results are beyond our ability to control or
predict. These factors include the risk factors described in Part
I, Item 1A. in our Annual Report on Form 10-K for the year ended
December 31, 2016, filed with the SEC
on March 28, 2017, our Form 10-Q for
the quarter ended September 30, 2017,
filed with the SEC on November 9,
2017, and our other filings with the SEC. All future written
and oral forward-looking statements attributable to us or persons
acting on our behalf are expressly qualified in their entirety by
the previous statements. The forward-looking statements herein
speak as of the date of this press release. We undertake no
obligation to update such statements for any reason, except as
required by law.
Investor Contact
American Midstream Partners, LP
Mark Schuck
Director of Investor Relations
(346) 241-3497
mschuck@americanmidstream.com
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SOURCE American Midstream Partners, LP