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Agreement with Southwestern Energy expands DTE's gathering system into new, productive acreage in the Marcellus shale
DETROIT, Nov. 19, 2014 /PRNewswire/ -- DTE Energy and Southwestern Energy Co. signed an agreement today to significantly expand their relationship centered on the Bluestone Pipeline and in-field gathering system.
The new gathering agreement increases the infrastructure footprint associated with DTE Energy's gathering assets by approximately 50 percent in Susquehanna County, Pa. This agreement also increases Southwestern's transportation capacity on the Bluestone Pipeline.
"Our expectation was to continue to enhance our relationship with Southwestern and this agreement further reinforces that intention while firming up the five-year outlook in our gathering business," said Dick Redmond, executive vice president of DTE Gathering and Processing. "We are confident in the Southwestern Energy resource. The performance in the core Susquehanna area has been strong and improving."
The 44.5-mile Bluestone Pipeline can deliver approximately 0.8 Bcf/day of gas to both the Millennium Pipeline in Broome County, N.Y., and the Tennessee Gas Pipeline in Susquehanna County, and is currently increasing its capacity to 1.0 Bcf/d by mid-2016.
About DTE Energy
DTE Energy (NYSE: DTE) is a Detroit -based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric utility serving 2.1 million customers in Southeastern Michigan and a natural gas utility serving 1.2 million customers in Michigan. The DTE Energy portfolio also includes non-utility energy businesses focused on power and industrial projects, natural gas pipelines, gathering and storage, and energy marketing and trading. Information about DTE Energy is available at dteenergy.com, twitter.com/dte_energy and facebook.com/dteenergy.
About Southwestern Energy
Southwestern Energy Company (NYSE: SWN) is an independent energy company whose wholly-owned subsidiaries are engaged in oil and gas exploration and production, natural gas gathering and marketing. Additional information on the company can be found on the Internet at http://www.swn.com.
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SOURCE DTE Energy
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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