MarkWest Energy Partners, L.P. (NYSE: MWE) (“MarkWest and “the Partnership”) today announced an expansion of rich-gas processing capacity in the Marcellus Shale. The Partnership will continue developing its leading presence in America’s most productive natural gas resource play with the addition of two new cryogenic processing plants at its Sherwood complex in Doddridge County, West Virginia and its Mobley Complex in Wetzel County, West Virginia. At the Sherwood complex, MarkWest will construct an additional 200 million cubic feet per day (MMcf/d) processing plant at the request of Antero Resources Corporation (NYSE: AR) (Antero). The new plant is anchored by a long-term, fee-based contract and will expand total capacity at the Sherwood complex to 1.2 billion cubic feet (Bcf/d) by the second quarter of 2015. Antero continues to develop its prolific rich-gas acreage position in northern West Virginia and is the anchor producer supporting the Sherwood complex. At the Mobley complex, MarkWest will increase total processing capacity to 920 MMcf/d with the construction of an additional 200 million cubic feet per day processing plant at the request of EQT Corporation (NYSE: EQT). The new plant is anchored by a long-term, fee-based contract and is expected to be in service by the second quarter of 2015. The Mobley complex currently consists of three plants with 520 MMcf/d of total processing capacity and during the fourth quarter of this year, MarkWest will begin operations of a fourth plant at the complex, increasing capacity to 720 MMcf/d. The Mobley complex supports growing Marcellus rich-gas production from EQT, Magnum Hunter Resources Corporation (NYSE: MHR), Stone Energy Corporation (NYSE: SGY), CONSOL Energy Inc. (NYSE: CNX), and Noble Energy, Inc. (NYSE: NBL). MarkWest continues to develop its leading midstream position in the Marcellus and Utica shales with 17 major processing and fractionation projects currently under development. In 2014, MarkWest expects to complete 11 of these projects, bringing total Northeast processing and fractionation capacity to 4 Bcf/d and 250,000 barrels per day, respectively.
“We are very excited to continue developing critical midstream infrastructure on behalf of Antero and EQT,” commented Frank Semple, Chairman, President and Chief Executive Officer. “The ongoing success of our producer customers is truly impressive and our Sherwood and Mobley complexes are two of our premier assets in the rich-gas areas of the Marcellus Shale.”MarkWest Energy Partners, L.P. is a master limited partnership engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of natural gas liquids; and the gathering and transportation of crude oil. MarkWest has a leading presence in many unconventional gas plays including the Marcellus Shale, Utica Shale, Huron/Berea Shale, Haynesville Shale, Woodford Shale and Granite Wash formation. 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, 2013. 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.