Energy Transfer Announces Multi Basin Strategic Alignment
February 19 2020 - 4:20PM
Business Wire
Energy Transfer LP (NYSE: ET) today announced the
execution of a suite of gathering, processing, transportation and
fractionation agreements with a large, investment- grade integrated
energy company (the “Company”). These agreements increase and
extend long-term commitments between the Company and Energy
Transfer in the Eagle Ford and Delaware Basins through 2034 and
2040, respectively.
The Company will benefit from Energy Transfer’s fully integrated
gas gathering, processing and transportation systems as well as its
extensive natural gas liquids transportation and fractionation
assets. Energy Transfer’s system will provide flow assurance and
reliability for the production from the approximately 255,000 net
acres that the Company has dedicated to Energy Transfer. The
execution of these agreements aligns with Energy Transfer’s focus
on achieving long-term sustainable cash flow, via fixed-fee
contracts, by increasing the utilization of existing assets and
minimizing new capital expenditures.
About Energy Transfer
Energy Transfer LP (NYSE: ET) owns and operates one of the
largest and most diversified portfolios of energy assets in the
United States, with a strategic footprint in all of the major
domestic production basins. ET is a publicly traded limited
partnership with core operations that include complementary natural
gas midstream, intrastate and interstate transportation and storage
assets; crude oil, natural gas liquids (NGL) and refined product
transportation and terminalling assets; NGL fractionation; and
various acquisition and marketing assets. ET, through its ownership
of Energy Transfer Operating, L.P., also owns Lake Charles LNG
Company, as well as the general partner interests, the incentive
distribution rights and 28.5 million common units of Sunoco LP
(NYSE: SUN), and the general partner interests and 46.1 million
common units of USA Compression Partners, LP (NYSE: USAC). For more
information, visit the Energy Transfer website at
www.energytransfer.com.
Forward Looking Statements
This press release may include certain statements concerning
expectations for the future that are forward-looking statements as
defined by federal law. Such forward-looking statements are subject
to a variety of known and unknown risks, uncertainties, and other
factors that are difficult to predict and many of which are beyond
management’s control. An extensive list of factors that can affect
future results are discussed in the Partnership’s Annual Report on
Form 10-K and other documents filed from time to time with the
Securities and Exchange Commission. The Partnership undertakes no
obligation to update or revise any forward-looking statement to
reflect new information or events.
The information contained in this press release is available on
our website at www.energytransfer.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200219005974/en/
Investor Relations: Bill Baerg Brent Ratliff Lyndsay Hannah
214-981-0795 Media Relations: Vicki Granado 214-840-5820
Energy Transfer (NYSE:ET)
Historical Stock Chart
From Mar 2024 to Apr 2024
Energy Transfer (NYSE:ET)
Historical Stock Chart
From Apr 2023 to Apr 2024