Enterprise Begins Full Service on Midland-to-Sealy Pipeline
April 16 2018 - 8:00AM
Business Wire
Enterprise Products Partners L.P. (NYSE:EPD) today announced
that its 416-mile Midland-to-Sealy pipeline is now in full service
with an expanded capacity of 540,000 barrels per day ("BPD") and
capable of transporting batched grades of crude oil and condensate.
With the completion of incremental tankage, as well as
infrastructure and operating enhancements, the pipeline has an
expected capacity of 575,000 BPD which is expected to come online
in May and is fully subscribed under long-term contracts.
At its terminus in Sealy, Texas, the pipeline connects directly
to Enterprise's 36-inch diameter Rancho II crude oil pipeline,
which extends to the company's 7.4 million barrel ECHO crude oil
terminal in southeast Houston. The completion of the
Midland-to-ECHO pipeline system provides a fully integrated
solution allowing Permian Basin producers to deliver multiple
grades of crude oil all the way to the Gulf Coast, including West
Texas Intermediate, Light West Texas Intermediate, West Texas Sour
and Condensate.
Supporting Enterprise's Permian Basin solution is a strategic
aggregation program that includes construction of a 143-mile
pipeline system, which is expected to deliver more than 300,000 BPD
of crude oil and condensate from the Delaware Basin into
Enterprise's Midland Terminal. The project is on schedule for
completion in July 2018 and is supported by long-term commitments
with shippers.
"With crude oil production from the Permian Basin projected to
grow by approximately 60 percent to more than 5 million BPD over
the next four years, Enterprise's pipeline system from Midland to
Houston provides customers with much needed flow assurance and
market choices," said A.J. "Jim" Teague, chief executive officer of
Enterprise's general partner. "From our ECHO terminal, customers
can access the major Gulf Coast refineries in the Houston, Texas
City and Beaumont/Port Arthur areas, which represent more than 4
million BPD of capacity, as well as Enterprise's extensive network
of deepwater docks. As crude oil production continues to grow,
access to the water has never been more important, and Enterprise
is well positioned to facilitate the growing global demand for U.S.
production."
Teague added, "In the process of expanding our crude oil
services, maintaining product quality is of paramount importance.
In that regard, both of our newly constructed pipelines are capable
of transporting batched grades of crude oil and condensate,
consistent with our quality assurance program and expectations of
our producing and refining customers, both domestic and
international."
Enterprise Products Partners L.P. is one of the largest publicly
traded partnerships and a leading North American provider of
midstream energy services to producers and consumers of natural
gas, NGLs, crude oil, refined products and petrochemicals. Our
services include: natural gas gathering, treating, processing,
transportation and storage; NGL transportation, fractionation,
storage and import and export terminals; crude oil gathering,
transportation, storage and terminals; petrochemical and refined
products transportation, storage and terminals; and a marine
transportation business that operates primarily on the United
States inland and Intracoastal Waterway systems. The partnership's
assets include approximately 50,000 miles of pipelines; 260 million
barrels of storage capacity for NGLs, crude oil, refined products
and petrochemicals; and 14 billion cubic feet of natural gas
storage capacity.
This press release includes "forward-looking statements" as
defined by the Securities and Exchange Commission. All statements,
other than statements of historical fact, included herein that
address activities, events, developments or transactions that
Enterprise and its general partner expect, believe or anticipate
will or may occur in the future are forward-looking statements.
These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially
from expectations, including required approvals by regulatory
agencies, the possibility that the anticipated benefits from such
activities, events, developments or transactions cannot be fully
realized, the possibility that costs or difficulties related
thereto will be greater than expected, the impact of competition,
and other risk factors included in Enterprise's reports filed with
the Securities and Exchange Commission. Readers are cautioned not
to place undue reliance on these forward-looking statements, which
speak only as of their dates. Except as required by law, Enterprise
does not intend to update or revise its forward-looking statements,
whether as a result of new information, future events or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20180416005512/en/
Enterprise Products Partners L.P.Investor RelationsRandy
Burkhalter, 713-381-6812 or 866-230-0745orMedia RelationsRick
Rainey, 713-381-3635
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