HOUSTON & THE WOODLANDS, Texas & DENVER--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE: EPD), Western Gas Partners, LP (NYSE: WES) and DCP Midstream, LP (NYSE: DCP) today announced a binding open season for additional capacity on the Front Range Pipeline (“Front Range”), which transports mixed natural gas liquids (“NGL”) from the Denver-Julesburg (“DJ”) Basin in Weld County, Colorado to Skellytown, Texas in Carson County. Subject to customer commitments during the open season, the partners expect to expand Front Range by 100,000 barrels per day (“BPD”) to a total capacity of approximately 250,000 BPD. Enterprise will be responsible for constructing the expansion, which will consist of additional pump stations along the 435-mile route. Service on the expanded Front Range pipeline is expected to begin in the second quarter of 2019.
The expansion of Front Range is designed to facilitate growing production of NGLs from the DJ Basin, which is expected to increase by approximately 40 percent over the next four years as development of oil and natural gas, made possible by the shale revolution, continues. In addition, an incremental 800 million cubic feet per day of natural gas processing capacity is expected to come online by the end of 2019.
Complementing the Front Range expansion is a proposed increase in capacity on the 583-mile Texas Express pipeline that originates in Skellytown, Texas and runs to the NGL fractionation and storage complex in Mont Belvieu, Texas. An expanded Front Range system, which links to the Texas Express pipeline, is a critical component of an integrated solution that provides DJ producers with flow assurance and greater access to the Gulf Coast market.
The Binding Open Season Commitment Period will begin May 4, 2018 at noon CDT and continue until 5 p.m. CDT June 4, 2018. Additional details, including a Notice of Binding Open Season Commitment Period, will be distributed to shippers. Requests for additional information may be directed to Jacob Tripplehorn at (713) 381-3844 or firstname.lastname@example.org, as well as Patrick Tucker at (713) 381-5429 or email@example.com. Enterprise, Western Gas Partners and DCP Midstream each own a 33.33 percent interest in Front Range.
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. Enterprise’s 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 50,000 miles of pipelines; 260 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet of natural gas storage capacity.
Western Gas Partners, LP (“WES”) is a growth-oriented Delaware master limited partnership formed by Anadarko Petroleum Corporation to acquire, own, develop and operate midstream assets. With midstream assets located in the Rocky Mountains, North-central Pennsylvania, Texas and New Mexico, WES is engaged in the business of gathering, compressing, treating, processing and transporting natural gas; gathering, stabilizing and transporting condensate, natural gas liquids and crude oil; and gathering and disposing of produced water for Anadarko, as well as for third-party producers and customers. In addition, in its capacity as a processor and under certain types of contracts, WES also buys and sells gas, NGLs and condensate.
DCP Midstream, LP (NYSE: DCP) is a midstream master limited partnership, with a diversified portfolio of assets, engaged in the business of gathering, compressing, treating, processing, transporting, storing and selling natural gas; and producing, fractionating, transporting, storing and selling NGLs and recovering and selling condensate. DCP owns and operates 60 plants and more than 60,000 miles of natural gas and natural gas liquids pipelines, with operations in 17 states across major producing regions, and leads the midstream segment as one of the largest natural gas liquids producers and marketers and one of the largest natural gas processors in the U.S. Denver, Colorado based DCP is managed by its general partner, DCP Midstream GP, LP, which is managed by its general partner, DCP Midstream GP, LLC, which is 100% owned by DCP Midstream, LLC. DCP Midstream, LLC is a joint venture between Enbridge and Phillips 66. For more information, visit the DCP Midstream, LP website at www.dcpmidstream.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, Western Gas and DCP expect, believe or anticipate 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, Western Gas and DCP. 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, Western Gas and DCP do not intend to update or revise their forward-looking statements, whether as a result of new information, future events or otherwise.