MarkWest Energy Partners, L.P. (NYSE: MWE) (“MarkWest or “the Partnership”) and The Energy & Minerals Group (“EMG”), today announced plans to add additional capacity at their Hopedale fractionation and marketing complex (“Hopedale complex”) in Harrison County, Ohio in order to meet growing natural gas liquids (NGLs) production in the Utica and Marcellus Shales under new contracted commitments from numerous producer customers. The Hopedale complex is jointly owned by a subsidiary of MarkWest and MarkWest Utica EMG, L.L.C. (“MarkWest Utica EMG”) a joint venture between the Partnership and EMG. The expansion will double the propane and heavier fractionation capacity at the Hopedale complex to 120,000 barrels per day (Bbl/d) and is expected to be operational in the first quarter of 2015. MarkWest and MarkWest Utica EMG are committed to developing world-class fractionation capacity in the Northeast, as these facilities are critical for producers achieving the highest price for their valuable NGLs. Once the Hopedale expansion is complete, MarkWest will operate 300,000 Bbl/d of ethane and heavier fractionation capacity at four complexes in the Northeast. The Partnership also has an NGL gathering pipeline connecting its Hopedale complex to its industry-leading NGL infrastructure in the Marcellus Shale. NGL takeaway solutions to the Gulf Coast and international markets will be complementary to existing fractionation infrastructure and will provide producers with additional market outlets that are crucial to the long-term development of the region. “Together with EMG, our expansion of fractionation capacity in Ohio is a resounding commitment to deliver exceptional midstream services and NGL solutions in the Northeast,” stated Frank Semple, Chairman, President, and Chief Executive Officer of MarkWest. “As Northeast NGL production continues to grow, in-basin fractionation will be essential to support the ongoing development plans of our producers in the Utica and Marcellus.” 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.Source: MarkWest Energy Partners, L.P. EMG is the management company for a series of specialized private equity funds. The Firm was founded by John Raymond (majority owner and CEO) and John Calvert in 2006. EMG focuses on investing across various facets of the global natural resource industry including the upstream and midstream segments of the energy complex. EMG has approximately $13.9 billion of regulatory assets under management (RAUM) and approximately $6.5 billion in commitments have been allocated across the energy sector since inception. For additional information on EMG, please contact Alexandra Coolidge at 713-579-5029.