THE WOODLANDS, Texas
WIRE)--May 3, 2018-- Enterprise Products Partners L.P.
(NYSE: EPD), Western Gas Partners, LP (NYSE: WES)
Midstream, LP (NYSE: DCP) today announced a binding open season for
additional capacity on the Front Range Pipeline ("Front Range"), which
transports mixed natural gas liquids ("NGL") from the Denver-Julesburg ("DJ") Basin in
Weld County, Colorado to
Texas in Carson County. Subject to
customer commitments during the open season, the partners expect to expand
Front Range by 100,000 barrels per day ("BPD")
to a total capacity of approximately 250,000 BPD. Enterprise will be
responsible for constructing the expansion, which will consist of additional
pump stations along the 435-mile route. Service on the expanded
Front Range pipeline is expected to begin in
the second quarter of 2019.
The expansion of
Front Range is designed to facilitate growing
production of NGLs from the DJ Basin, which is
expected to increase by approximately 40 percent over the next four years as
development of oil and natural gas, made possible by the shale revolution,
continues. In addition, an incremental 800 million cubic feet per day of
natural gas processing capacity is expected to come online by the end of 2019.
Complementing the Front
Range expansion is a proposed increase in capacity on the
583-mile Texas Express pipeline that originates in Skellytown,
Texas and runs to the NGL fractionation and storage complex in
Mont Belvieu, Texas. An
expanded Front Range system, which links to
the Texas Express pipeline, is a critical component of an integrated solution
that provides DJ producers with flow assurance and greater access to the
Gulf Coast market.
Binding Open Season Commitment Period will begin May 4,
2018 at noon CDT and continue until
5 p.m. CDT June 4, 2018.
Additional details, including a Notice of Binding Open Season Commitment
Period, will be distributed to shippers. Requests for additional information
may be directed to Jacob Tripplehorn at (713)
381-3844 or firstname.lastname@example.org,
as well as Patrick Tucker at (713) 381-5429 or
Enterprise, Western Gas Partners and DCP
Midstream each own a 33.33 percent interest in
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 gathering, transportation, storage
and terminals; petrochemical and refined products transportation, storage and
terminals; and a marine transportation business that operates primarily on
United States inland and Intracoastal Waterway systems. The
partnership's assets include approximately 50,000 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.
Western Gas Partners, LP ("WES") is a
growth-oriented Delaware master limited partnership formed by
Anadarko Petroleum Corporation to acquire, own, develop
and operate midstream assets. With midstream assets located in the
North-central Pennsylvania, Texas and New
Mexico, WES is engaged in
the business of gathering, compressing, treating, processing and transporting
natural gas; gathering, stabilizing and transporting condensate, natural gas
liquids and crude oil; and gathering and disposing of produced water for
Anadarko, as well as for third-party producers and customers. In addition, in
its capacity as a processor and under certain types of contracts, WES also buys
and sells gas, NGLs and condensate.
LP (NYSE: DCP) is a midstream master limited partnership, with a
diversified portfolio of assets, engaged in the business of gathering,
compressing, treating, processing, transporting, storing and selling natural
gas; and producing, fractionating, transporting, storing and selling NGLs and
recovering and selling condensate. DCP owns and operates 60 plants and more
than 60,000 miles of natural gas and natural gas liquids pipelines, with
operations in 17 states across major producing regions, and leads the midstream
segment as one of the largest natural gas liquids producers and marketers and
one of the largest natural gas processors in the U.S. Denver,
Colorado based DCP is managed by its general partner, DCP
Midstream GP, LP, which is managed by its general partner,
DCP Midstream GP, LLC, which is 100% owned by
DCP Midstream, LLC. DCP Midstream,
LLC is a joint venture between Enbridge and
Phillips 66. For more information, visit the DCP Midstream,
LP website at www.dcpmidstream.com.
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 DCP expect, believe or anticipate will or may occur in the future,
including anticipated benefits and other aspects of such activities, events,
developments or transactions, are forward-looking statements.
These forward-looking statements are subject to risks and uncertainties
that may cause actual results to differ materially, 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 the reports filed with the Securities and Exchange
Commission by Enterprise, Western Gas and DCP.
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, Western Gas and DCP do not intend to
update or revise their forward-looking statements, whether as a result of new
information, future events or otherwise.
View source version on businesswire.com:
Products Partners L.P.
Burkhalter, 713-381-6812 or 866-230-0745
Western Gas Partners,
Jonathon E. VandenBrand,
Irene Lofland, 303-605-1822
Sarah Sandberg, 303-605-1626