EnLink Midstream Plans Delaware Basin Crude Gathering System
June 27 2018 - 08:23AM
Dow Jones News
By Colin Kellaher
EnLink Midstream Partners LP (ENLK) and EnLink Midstream LLC
(ENLC) on Wednesday said the partnership will invest $35 million to
$40 million this year to build a new crude-oil gathering system in
the Northern Delaware Basin.
EnLink said the system, dubbed "Avenger," is anchored by a
10-year contract with Devon Energy Corp. (DVN) and is supported by
dedications from Devon's Todd and Potato Basin development areas in
New Mexico. Devon previously said it plans to direct a significant
portion of its capital budget into Delaware Basin development.
EnLink said it expects initial Avenger operations to begin
during the third quarter, with full-service operations starting in
the first quarter of 2019. The partnership said it expects further
capital expenditures in future years as Devon continues to develop
its acreage in the region.
Devon earlier this month said it agreed to sell its stakes in
EnLink Midstream Partners and EnLink Midstream to Global
Infrastructure Partners for $3.125 billion.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
June 27, 2018 08:08 ET (12:08 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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