Enterprise Products Partners L.P. (NYSE: EPD) today announced that the eighth natural gas liquids (“NGL”) fractionator at the partnership’s Mont Belvieu, Texas complex is now operational. The new unit, which has the capability to fractionate up to 85,000 barrels per day (“BPD”) of NGL, increases total NGL fractionation capacity at Enterprise’s Mont Belvieu facility to approximately 655,000 BPD. The partnership’s eighth fractionator will accommodate increasing NGL production from domestic shale plays, including the Eagle Ford in South Texas, and other basins in the Rocky Mountain and Mid-continent regions. Rising NGL production from the shale plays continues to provide a low-cost feedstock advantage for the global petrochemical industry, which currently favors natural gas-derived feedstocks over more expensive crude oil-based derivatives.
“Our eighth NGL fractionator is the second unit Enterprise has placed into service at Mont Belvieu in the last two months, both of which were completed ahead of schedule and within budget,” said Michael A. Creel, chief executive officer of Enterprise’s general partner. “In just three years, total NGL fractionation capacity at the partnership’s Mont Belvieu complex has increased, from 400,000 BPD to 655,000 BPD, demonstrating our ability to respond quickly, efficiently and safely to the demand for midstream infrastructure that meets the country’s evolving energy landscape. System wide, Enterprise now has more than 1 million BPD of NGL fractionation capacity.”
Fractionators seven and eight were constructed as part of a joint venture (“JV”) with Western Gas Partners, LP (NYSE: WES), an affiliate of Anadarko Petroleum Corporation. Enterprise operates the two new units and owns a 75 percent equity interest in the JV, with Western Gas Partners owning the remaining 25 percent interest.
Enterprise Products 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. Our services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and import and export terminals (including liquefied petroleum gas or LPG); crude oil and refined products transportation, storage and terminals; offshore production platforms; petrochemical transportation and services; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems and in the Gulf of Mexico. The partnership’s assets include approximately 51,000 miles of onshore and offshore pipelines; 200 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet of natural gas storage capacity. Additional information regarding Enterprise can be found on its website, www.enterpriseproducts.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 expects, believes or anticipates 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. 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 does not intend to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
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