HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE:EPD) today announced that operations have begun at a new cryogenic natural gas processing plant in Reeves County, Texas jointly developed with an affiliate of Occidental Petroleum Corporation (NYSE:OXY). The plant is owned by Delaware Basin Gas Processing LLC (“DBGP”), a company in which Enterprise and Occidental each hold a 50-percent interest. Enterprise will serve as the operator of the new facility.
The new DBGP plant has a capacity of 150 million cubic feet per day (“MMcf/d”) and can extract in excess of 22,000 barrels per day of natural gas liquids (“NGL”). Supported by long-term contracts, the plant is designed to accommodate the growing production of NGL-rich natural gas from the Delaware Basin.
In conjunction with the DBGP plant, Enterprise has completed construction of an 82-mile, 12-inch diameter NGL pipeline that connects to its Chaparral Pipeline, providing customers with access to the company’s fractionation and storage complex in Mont Belvieu, Texas. The partnership’s Texas Intrastate pipeline system will provide natural gas transportation services at the tailgate of the plant with access to multiple markets.
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 import and export terminals; crude oil gathering, transportation, storage and terminals; petrochemical and refined products transportation, storage and terminals; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems. The partnership’s assets include approximately 49,000 miles of pipelines; 250 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet 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.