Matterhorn Express Pipeline Reaches Final Investment Decision
May 19 2022 - 4:15PM
Business Wire
WhiteWater, EnLink Midstream, LLC (NYSE: ENLC), Devon Energy
Corp. (NYSE: DVN), and MPLX LP (NYSE: MPLX) have reached a final
investment decision to move forward with the construction of the
Matterhorn Express Pipeline after having secured sufficient firm
transportation agreements with shippers.
The Matterhorn Express Pipeline has been designed to transport
up to 2.5 billion cubic feet per day (Bcf/d) of natural gas through
approximately 490 miles of 42-inch pipeline from Waha, Texas, to
the Katy area near Houston, Texas. Supply for the Matterhorn
Express Pipeline will be sourced from multiple upstream connections
in the Permian Basin, including direct connections to processing
facilities in the Midland Basin through an approximately 75-mile
lateral, as well as a direct connection to the 3.2 Bcf/d Agua
Blanca Pipeline, a joint venture between WhiteWater and MPLX.
“WhiteWater is excited to partner with EnLink, Devon, and MPLX
to develop incremental gas transportation out of the Permian Basin
as production continues to grow in West Texas,” said Christer
Rundlof, CEO of WhiteWater. “Matterhorn will provide premium market
access with superior flexibility for Permian Basin shippers while
playing a critical role in minimizing flared volumes.”
The Matterhorn Express Pipeline is expected to be in service in
the third quarter of 2024, pending the receipt of customary
regulatory and other approvals.
About WhiteWater
WhiteWater, an Austin, Texas based infrastructure company, has
partnered with Ridgemont Equity Partners and First Infrastructure
Capital on the Matterhorn Express Pipeline. For more information
about WhiteWater, visit www.wwdev.com.
About EnLink Midstream
EnLink Midstream reliably operates a differentiated midstream
platform that is built for long-term, sustainable value creation.
EnLink's best-in-class services span the midstream value chain,
providing natural gas, crude oil, condensate, and NGL capabilities,
and carbon capture, transportation, and sequestration services.
EnLink’s purposely built, integrated asset platforms are in premier
production basins and core demand centers, including the Permian
Basin, Oklahoma, North Texas, and the Gulf Coast. EnLink's strong
financial foundation and commitment to execution excellence drive
competitive returns and value for its employees, customers, and
investors. Headquartered in Dallas, EnLink is publicly traded
through EnLink Midstream, LLC (NYSE: ENLC). Visit www.EnLink.com to
learn how EnLink connects energy to life.
About Devon Energy
Devon Energy is a leading oil and gas producer in the U.S. with
a premier multi-basin portfolio headlined by a world-class acreage
position in the Delaware Basin. Devon’s disciplined cash-return
business model is designed to achieve strong returns, generate free
cash flow and return capital to shareholders, while focusing on
safe and sustainable operations. For more information, please visit
www.devonenergy.com.
About MPLX LP
MPLX is a diversified, large-cap master limited partnership that
owns and operates midstream energy infrastructure and logistics
assets and provides fuels distribution services. MPLX's assets
include a network of crude oil and refined product pipelines; an
inland marine business; light-product terminals; storage caverns;
refinery tanks, docks, loading racks, and associated piping; and
crude and light-product marine terminals. MPLX also owns crude oil
and natural gas gathering systems and pipelines as well as natural
gas and NGL processing and fractionation facilities in key U.S.
supply basins. More information is available at www.MPLX.com.
About First Infrastructure Capital
First Infrastructure Capital Advisors, LLC is a Houston-based
investment firm specializing in greenfield projects and companies
operating in the midstream, downstream, electric power,
telecommunications, and renewable energy industries. First
Infrastructure Capital Advisors, LLC is an SEC-registered
investment adviser, which manages funds affiliated with First
Infrastructure Capital, L.P. For more information about First
Infrastructure Capital, visit www.firstinfracap.com.
About Ridgemont Equity Partners
Ridgemont Equity Partners is a Charlotte-based middle market
buyout and growth equity investor. Since 1993, the principals of
Ridgemont have invested over $6.0 billion. The firm focuses on
equity investments up to $250 million and utilizes a proven,
industry-focused investment approach and repeatable value creation
strategies. For more information about Ridgemont, visit
www.ridgemontep.com.
Some of the above statements constitute forward-looking
statements. Forward-looking statements are not guarantees of future
performance and are subject to risks, uncertainties and other
factors, some of which are beyond the control of the companies
named herein and are difficult to predict. Factors that could
impact the opportunities described above include but are not
limited to general domestic and international economic and
political conditions and the factors described in the filings with
the Securities and Exchange Commission of the companies named
herein. Any forward-looking statement speaks only as of the date of
the applicable communication and the companies named herein
undertake no obligation to update any forward-looking statement
except to the extent required by applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20220519005711/en/
WhiteWater Investor Relations: www.wwdev.com EnLink Midstream
Partners Investor Relations: Brian Brungardt (214) 721-9353 Devon
Energy Investor Relations: Scott Coody (405) 552-4735 MPLX LP
Investor Relations: Kristina Kazarian (419) 421-2071
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