Crestwood Announces Commercial Operations at Bear Den II Processing Plant, Record Arrow Production Volumes in August 2019 & L...
August 14 2019 - 8:00AM
Business Wire
Crestwood Equity Partners LP (NYSE: CEQP) (“Crestwood” or
“CEQP”) today announced that it has begun commercial operations at
the Bear Den II processing plant in Watford City, North Dakota.
Concurrently, Crestwood brought online the Station 8 Compression
Facility, a 27,500 HP electric driven trunkline compression
station, and expanded the Bear Den West and Bear Den Loop
pipelines, 36-miles of 20-inch high pressure lines that connect the
Bear Den processing complex to the Arrow gathering system.
New gathering records are being set on the Arrow system as a
result of debottlenecking projects, increasing initial production
rates and reservoir productivity. In August 2019, daily gathering
volumes have exceeded 124 MBbls/d of crude oil, 96 MMcf/d of
natural gas, and 84 MBbls/d of produced water. Crestwood now
expects Arrow producers to connect 110 new wells in 2019. Further,
Crestwood has successfully negotiated contract extensions with
active producers on the Arrow system resulting in an average
remaining term of 9.3 years.
Robert G. Phillips, Chairman, President, and Chief Executive
Officer, commented, “Today is an important day for Crestwood as the
start-up of the Bear Den II plant is a key milestone in our
long-term Bakken growth strategy to provide our producers with
exceptional customer service and flow assurance for their growing
production on the Arrow gathering system. Our project management,
operations, safety, environmental and technical services teams did
a tremendous job to place these vital infrastructure projects into
service with excellent safety records during construction. Bear Den
II and the associated infrastructure further contribute to
Crestwood’s ESG Sustainability initiatives and highlight our
commitments to both North Dakota and the MHA Nation by achieving
higher gas capture percentages across the Arrow system and reducing
emissions on the Fort Berthold Indian Reservation and in the state
of North Dakota. Crestwood’s Bakken team, which includes our Arrow,
COLT and MS&L assets and operations, continues to focus on
providing its customers with timely well connects, flow assurance,
connectivity to premium downstream markets and higher net-backs
while meeting the new operating standards established by our ESG
Sustainability program.”
The Bear Den II plant is a 120 MMcf/d cryogenic processing plant
located adjacent to Crestwood’s 30 MMcf/d Bear Den I plant which
was placed into service in 2018. During its start-up phase, Bear
Den II is currently processing approximately 65 MMcf/d of natural
gas with the expectation to ramp up to 100% of Arrow’s gas
gathering volumes during the third quarter 2019. The Bear Den
processing complex has downstream connections to Northern Border
Pipeline Company for residue gas and upon its completion, will
connect to ONEOK’s Elk Creek pipeline for NGL takeaway.
Additionally, Crestwood utilizes its MS&L team to provide NGL
flow assurance and optimize net-backs for producers via the COLT
Hub and its extensive network of trucking and storage assets.
The Arrow gathering and processing system gathers crude oil,
natural gas, and produced water on the Fort Berthold Indian
Reservation in McKenzie and Dunn counties, North Dakota. The Arrow
system consists of approximately 740 miles of pipe, 150 MMcf/d of
processing capacity, and over 75,000 HP of compression, that is
supported by a 150,000 acre dedication and long-term contracts with
WPX Energy, XTO Energy, Bruin E&P Partners, Rimrock Oil &
Gas, Enerplus Resources, PetroShale and QEP Resources.
About Crestwood Equity Partners LP
Houston, Texas, based Crestwood Equity Partners LP (NYSE: CEQP)
is a master limited partnership that owns and operates midstream
businesses in multiple shale resource plays across the United
States. Crestwood Equity is engaged in the gathering, processing,
treating, compression, storage and transportation of natural gas;
storage, transportation, terminalling, and marketing of NGLs;
gathering, storage, terminalling and marketing of crude oil; and
gathering and disposal of produced water. Visit Crestwood Equity
Partners LP at www.crestwoodlp.com; and to learn more about
Crestwood’s sustainability efforts, please visit
https://esg.crestwoodlp.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 securities 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. These risks and assumptions are
described in Crestwood’s annual reports on Form 10-K and other
reports that are available from the United States Securities and
Exchange Commission. Readers are cautioned not to place undue
reliance on forward-looking statements, which reflect management’s
view only as of the date made. We undertake no obligation to update
any forward-looking statement, except as otherwise required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20190814005132/en/
Crestwood Equity Partners LP Investor Contact Josh
Wannarka, 713-380-3081 josh.wannarka@crestwoodlp.com Vice
President, Investor Relations
Crestwood Equity Partners (NYSE:CEQP)
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