MarkWest Utica Announces Letter of Intent to Develop Significant Midstream Infrastructure in the Utica Shale
MarkWest Utica EMG, L.L.C., a joint venture between MarkWest Energy Partners, L.P. (NYSE: MWE) and The Energy and Minerals Group focused on the development of significant natural gas gathering, transportation, and processing and natural gas liquid transportation, fractionation, and marketing infrastructure in the Utica shale in eastern Ohio, today announced the execution of a letter of intent with Gulfport Energy Corporation (NASDAQ: GPOR) to provide gathering, processing, fractionation, and marketing services in the liquids-rich corridor of the Utica.
Under the terms of the LOI, which requires the execution of definitive agreements, MarkWest Utica will develop extensive natural gas gathering infrastructure with Gulfport and other producers primarily in Harrison, Guernsey, and Belmont counties that is expected to come online beginning in 2012. MarkWest Utica will process the gas at its Harrison County processing complex, and will provide NGL fractionation and marketing services at the Harrison County fractionator, where NGL purity products will be marketed by truck, rail, and pipeline.
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