This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Pennant Midstream, LLC, Announces Construction Of New Natural Gas Liquids Pipeline

NEW MIDDLETOWN, Ohio, Sept. 30, 2013 /PRNewswire/ -- Pennant Midstream, LLC, today announced the construction of a 12-inch, 38-mile natural gas liquids (NGL) pipeline, an approximately $60 million investment. The line will connect the Hickory Bend Cryogenic Processing Plant in New Middletown, Ohio, to the UEO Kensington facility near Kensington, Columbiana County and will have the capacity to initially deliver approximately 90,000 barrels a day. NiSource Midstream Services, LLC, operates Pennant Midstream, which is jointly owned by Harvest Pipeline (an affiliate of Hilcorp Energy Company) and NiSource Midstream Services.

"The construction of new infrastructure is critical to unlocking the potential of the Utica Shale play in Ohio," said Jimmy D. Staton, Columbia Pipeline Group and NiSource Midstream Services CEO. "This partnership will not only provide a key link in that infrastructure, it will provide economic-related benefits for companies and residents of Ohio and the Appalachian Basin."

Steve Jacobs, President of Harvest Pipeline said, "We are delighted to be a part of this critical project in the development of the Utica Shale, particularly with our partners at NiSource Midstream Services, who have a proven track record in midstream operations. This project is an important milestone in advancing the development of the Utica Shale formation in Ohio."

The construction of this line enhances the Pennant gathering and processing facility to become a full-service solution for providers in the northern Utica, offering access to wet gas gathering and processing, as well as residue gas and NGL takeaway to attractive market destinations.

The pipeline is under construction and is expected to be completed by July 2014. The initial NGLs will be delivered to the UEO NGL pipeline originating in Columbiana County, Ohio, and transported via the existing UEO NGL infrastructure to the fractionator at UEO Harrison Hub in Harrison County, Ohio.

About NiSource Midstream Services

NiSource Midstream Services (NMS), part of the Columbia Pipeline Group (CPG), is a wholly-owned entity of NiSource Inc. (NYSE:NI), a Fortune 500 energy utility company. NiSource Midstream Services was formed to provide specific natural gas producer services, including gathering, treatment, conditioning, processing and liquids handling with a focus on the Appalachian Basin. NiSource Midstream Services is focused on meeting the infrastructure needs of both conventional and shale gas producers in a cost-effective, safe and reliable manner.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,098.22 +11.59 0.07%
S&P 500 1,990.86 +3.85 0.19%
NASDAQ 4,484.6520 +10.9550 0.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs