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.
“We are pleased to announce the expansion of our Mobley complex in support of our producer customers’ success in their liquids-rich Marcellus acreage,” said Frank Semple, Chairman, President and Chief Executive Officer of MarkWest. “Our full service midstream solutions help maximize the value of our producers’ natural gas and natural gas liquids and this significant resource play continues to provide great opportunities for future organic growth projects for MarkWest.”MarkWest Energy Partners, L.P. is a master limited partnership engaged in the gathering, transportation, and processing of natural gas; the transportation, fractionation, marketing, and storage of natural gas liquids; and the gathering and transportation of crude oil. MarkWest has extensive natural gas gathering, processing, and transmission operations in the southwest, Gulf Coast, and northeast regions of the United States, including the Marcellus Shale, and is the largest natural gas processor and fractionator in the Appalachian region. This press release includes “forward-looking statements.” All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements. Actual results could vary significantly from those expressed or implied in such statements and are subject to a number of risks and uncertainties. Although MarkWest believes that the expectations reflected in the forward-looking statements are reasonable, MarkWest can give no assurance that such expectations will prove to be correct. The forward-looking statements involve risks and uncertainties that affect operations, financial performance, and other factors as discussed in filings with the Securities and Exchange Commission (SEC). Among the factors that could cause results to differ materially are those risks discussed in the periodic reports filed with the SEC, including MarkWest’s Annual Report on Form 10-K for the year ended December 31, 2011 and its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2012 and June 30, 2012. You are urged to carefully review and consider the cautionary statements and other disclosures made in those filings, specifically those under the heading “Risk Factors.” MarkWest does not undertake any duty to update any forward-looking statement except as required by law.