HOUSTON, Oct. 16, 2020 /PRNewswire/ -- Summit
Midstream Partners, LP (NYSE: SMLP) announced that on October 15, 2020, Double E Pipeline, LLC ("Double
E"), a joint venture in which SMLP owns a 70% equity interest and
serves as operator, received Federal Energy Regulatory Commission
("FERC") approval of its application to construct and operate the
Double E Pipeline Project, pursuant to Section 7(c) of the Natural
Gas Act. Double E is a new interstate natural gas pipeline
that is currently under development and, upon completion, will
provide up to 1.35 million dekatherms of firm transportation
service from the Delaware Basin in southeast New Mexico and west
Texas to delivery points near Waha in Reeves and Pecos Counties,
Texas. Upon fulfilling certain remaining requirements,
including finalizing a right-of-way grant from the Bureau of Land
Management and filing an implementation plan with the FERC, Double
E expects to receive FERC's notice to proceed with
construction. This notice to proceed is expected within the
next 90 days.
Heath Deneke, President, Chief
Executive Officer and Chairman, commented, "I'm pleased that Double
E has received FERC approval, which is an important milestone in
the development of the Double E Pipeline Project. SMLP
continues to focus on developing this world-class project on
schedule and under budget in a safe and efficient manner. Due
to the efforts of the hard-working men and women developing this
project to lock-in costs and capture value, the total cost to
complete Double E is now tracking approximately 15% below original
budget established at FID in June 2019. We are in the process
of finalizing third-party financing for substantially all of SMLP's
remaining Double E capital obligations and we expect to secure
financing concurrently with receipt of FERC's notice to proceed
with construction. I look forward to providing more
commentary on Double E, and the related financing, during our
upcoming third quarter earnings call."
About Summit Midstream Partners, LP
SMLP is a
value-driven limited partnership focused on developing, owning and
operating midstream energy infrastructure assets that are
strategically located in the core producing areas of unconventional
resource basins, primarily shale formations, in the continental
United States. SMLP provides natural gas, crude oil and
produced water gathering, processing and transportation services
pursuant to primarily long-term, fee-based agreements with
customers and counterparties in six unconventional resource basins:
(i) the Appalachian Basin, which includes the Utica and Marcellus shale formations in
Ohio and West Virginia; (ii) the Williston Basin, which includes the Bakken and
Three Forks shale formations in North
Dakota; (iii) the Denver-Julesburg Basin, which includes the
Niobrara and Codell shale
formations in Colorado and
Wyoming; (iv) the Permian Basin,
which includes the Bone Spring and Wolfcamp formations in
New Mexico; (v) the Fort Worth Basin, which includes the Barnett
Shale formation in Texas; and (vi)
the Piceance Basin, which includes the Mesaverde formation as well
as the Mancos and Niobrara shale formations in Colorado.
SMLP has an equity investment in Double E Pipeline, LLC, which is
developing natural gas transmission infrastructure that will
provide transportation service from multiple receipt points in the
Delaware Basin to various delivery
points in and around the Waha Hub in Texas. SMLP also has an
equity investment in Ohio Gathering, which operates extensive
natural gas gathering and condensate stabilization infrastructure
in the Utica Shale in Ohio. SMLP is headquartered in
Houston, Texas.
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SOURCE Summit Midstream Partners, LP