Enterprise Products Partners L.P. (NYSE:EPD) today announced that its Mentone cryogenic natural gas processing plant in Loving County, Texas was recently placed in service. The facility has the capacity to process 300 million cubic feet per day ("MMcf/d") of natural gas, and extract more than 40,000 barrels per day ("BPD") of natural gas liquids ("NGL"). Supported by a long-term acreage dedication agreement, the new plant facilitates the continued growth of natural gas and NGLs from the Delaware Basin.
"Mentone is our seventh natural gas processing plant in the Delaware Basin and increases our total capacity in the Permian Basin to more than 1.6 MMcf/d of natural gas processing and more than 250,000 BPD of NGL extraction," said Brent Secrest, executive vice president and chief commercial officer of Enterprise’s general partner. "These assets provide critical infrastructure to facilitate growing natural gas and NGL production in the region, which is expected to increase by more than 60 percent over the next five years. The addition of Mentone also enhances access to our fully integrated midstream network of assets linking producers in the Delaware Basin to domestic and international demand."
Enterprise has also constructed 66 miles of large-diameter gathering and residue pipelines and expanded compression capabilities that link Mentone to the partnership’s NGL and Texas Intrastate natural gas pipeline networks. To accommodate the increase in NGLs, Enterprise is in the process of constructing 300,000 BPD of fractionation capacity at its Mont Belvieu, Texas complex.
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 export and import terminals; crude oil gathering, transportation, storage and export and import terminals; petrochemical and refined products transportation, storage, export and import terminals and related services; 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 Bcf 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.
Randy Burkhalter, Investor Relations, (713) 381-6812 or (866) 230-0745
Rick Rainey, Media Relations (713) 381-3635