Enterprise to Begin Open Season for Proposed Expansion of Panola NGL Pipeline System
Enterprise Products Partners L.P. (NYSE: EPD) affiliate Panola Pipeline Company, LLC (“Panola”) today announced the start of a binding open season to seek shipper support for a proposed expansion of the Carthage to Lufkin segment of its natural gas liquids (“NGL”) pipeline system. The Panola Pipeline is a 181-mile pipeline that originates near Carthage in Panola County, Texas and supports the Haynesville and Cotton Valley oil and gas production areas. The pipeline extends to destination points at Mont Belvieu in Chambers County, Texas, enabling shippers to access the world's largest NGL fractionation complex, including facilities owned and operated by Enterprise.
Depending on shipper response to the open season, the Panola expansion project will be designed to accommodate approximately 15,000 barrels per day (“BPD”) of incremental capacity. Achieving the additional capacity would involve installing pumps and related equipment. The additional capacity would be available mid to late second quarter of 2013.
The open commitment period begins today at 9 a.m. CST and will close on Friday, January 11, 2013 at 5 p.m. CST. For commercial inquiries or additional information related to the open commitment period, please contact Chad Aldrich at (713) 381-6427 or firstname.lastname@example.org.
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. For additional information, visit 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