Enterprise Completes Sixth Fractionator at Mont Belvieu, Texas Complex
Enterprise Products Partners L.P. (NYSE: EPD) today announced that the partnership's sixth natural gas liquids (“NGL”) fractionator at its Mont Belvieu, Texas complex is now operational. Expected capacity of the unit is 85,000 barrels per day (“BPD”), increasing total fractionation capacity at Enterprise's Mont Belvieu facility to 485,000 BPD. The sixth fractionator will facilitate the increasing NGL production from domestic shale plays, including the Eagle Ford and other basins in the Rocky Mountain and Mid-continent regions. Rising NGL production from the shale plays continues to provide a cost advantage for the U.S. petrochemical industry which favors natural gas-derived feedstocks over imported crude oil-based derivatives.
The sixth fractionator, which is supported by long-term contracts, will reduce the volumes Enterprise has been diverting to its Louisiana fractionators and accommodate incremental volumes from the partnership's new Yoakum natural gas processing facility in Lavaca County, Texas. The first two trains of the Yoakum facility have exceeded expectations and are processing 700 million cubic feet per day of inlet natural gas and extracting 90,000 BPD of mixed NGLs.
“We are very pleased with the addition of our newest fractionator and proud of the engineering, construction and operating groups who continue to complete these projects in a timely, safe and efficient manner,” said Michael A. Creel, president and chief executive officer of Enterprise's general partner. “This latest expansion of our Mont Belvieu infrastructure, which was completed on budget and ahead of schedule, offers shippers access to the largest NGL markets to maximize the value of their production and provides end users with reliable sources of domestic feedstock.”
A.J. “Jim” Teague, executive vice president and chief operating officer of Enterprise's general partner stated, “Production growth from domestic shale play basins continues to impress and create growth opportunities for Enterprise. Fractionators seven and eight are already under construction at Mont Belvieu and are expected to increase total capacity at the facility to approximately 650,000 barrels per day when completed in the fourth quarter of 2013. At that time, our system-wide fractionation capacity is expected to exceed 1 million barrels per day.”
Enterprise is also benefiting from the increased demand for propane as a domestic feedstock, in addition to export.
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. The partnership's assets include approximately 50,700 miles of onshore and offshore pipelines; 190 million barrels of storage capacity for NGLs, petrochemicals, refined products and crude oil; and 14 billion cubic feet of natural gas storage capacity. Services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage, and import and export terminals; crude oil and refined products transportation, storage and terminals; offshore production platforms; petrochemical transportation and services; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems and in the Gulf of Mexico. Additional information about Enterprise is available online at www.enterpriseproducts.com.
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 expects, believes or anticipates will or may occur in the future, including anticipated benefits and other aspects of such activities, events, developments or transactions, are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, 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 the reports filed with the Securities and Exchange Commission by Enterprise. 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.
Enterprise Products Partners L.P.
Randy Burkhalter, (713) 381-6812 or (866) 230-0745
Rick Rainey, (713) 381-3635