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MarkWest Energy Partners Announces Additional Expansion Of Mobley Processing Complex

Stocks in this article: MWE

MarkWest Energy Partners (NYSE: MWE) (MarkWest) announced today the development of additional processing infrastructure at its Mobley complex located in Wetzel County, West Virginia. MarkWest will construct Mobley III, a 200 million cubic feet per day (MMcf/d) gas processing facility, to support the development of rich-gas acreage in the Marcellus Shale by EQT Corporation (NYSE: EQT) and other producers. The additional Mobley plant is supported by long-term, fee-based contracts.

MarkWest expects to complete construction of its first 200 MMcf/d Mobley facility during November 2012. This 200 MMcf/d plant is supported by rich-gas development of EQT, Magnum Hunter Resources Corporation (NYSE: MHR) and other producers. EQT gas will be delivered to the processing complex by pipelines owned and operated by subsidiaries of EQT. Magnum Hunter Resources gas will be delivered to Mobley by pipelines owned and operated by Eureka Hunter Pipeline, LLC, a subsidiary of Magnum Hunter Resources. Both pipeline systems will also deliver third-party gas to the Mobley complex. The second facility, a 120 MMcf/d plant, will be operational by the first quarter of 2013 and is primarily supported by growing rich-gas development of Magnum Hunter Resources and third parties. MarkWest’s planned construction of Mobley III is expected to be complete by the fourth quarter of 2013. Once the announced projects are operational, the Mobley complex will have approximately 520 MMcf/d of processing capacity.

The natural gas liquids (NGLs) recovered at Mobley will be fractionated and marketed at MarkWest’s 60,000 barrels per day (Bbl/d) Houston complex in Washington County, Pennsylvania. The Mobley NGLs will be transported to the Houston complex through MarkWest’s extensive Marcellus NGL gathering system. By the middle of 2013, MarkWest will add the ability to extract ethane with the completion of 78,000 Bbl/d of combined de-ethanization facilities at its Majorsville and Houston complexes. Ethane recovered by MarkWest will have access to all of the planned ethane pipeline projects that will originate from its Houston complex.

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