|TEPPCO Partners, L.P. Announces $122 Million Phase IV Expansion of Jonah Gas Gathering System|
HOUSTON, Feb. 9 /PRNewswire-FirstCall/ -- TEPPCO Partners, L.P. (NYSE: TPP) announced today a Phase IV Expansion on the Jonah Gas Gathering System in southwestern Wyoming. The project will expand system capacity to approximately 1.5 billion cubic feet per day (Bcf/day) and is expected to cost approximately $122 million. The expansion should be fully operational by December 2005.
"This project demonstrates the continuing growth opportunities in the Jonah Gas Gathering System and our ongoing commitment to providing quality services to the producers of both the Jonah and Pinedale fields," said Barry R. Pearl, president and chief executive officer of the general partner of TEPPCO.
The expansion will include construction of approximately 45 miles of pipeline that will loop Jonah's gathering system, as well as adding compression at three stations for a total increase of 33,300 horsepower of compression. This will enable lower operating pressures in the Jonah and Pinedale fields, allowing for increased throughput.
In 2003, TEPPCO completed the Phase III expansion of Jonah, which included the construction of 80 miles of pipeline to loop Jonah's gathering system in both the Pinedale and Jonah Fields, as well as the mainline system to Opal, Wyo., installation of 3,200 horsepower of compression to the system, and construction of the 250 million cubic feet per day (MMcf/day) Pioneer gas plant near Opal. In December 2004, TEPPCO completed a project to add 100 MMcf/day of capacity on the Jonah system by installing compression facilities. In fourth quarter 2004, the Jonah system averaged over 1 Bcf/day of throughput, nearing existing system capacity.
The Jonah system gathers natural gas from the Green River Basin in southwestern Wyoming, one of the most prolific and active basins in the United States. Gas gathered on the system is primarily processed by others and delivered to several interstate pipeline systems that provide access to a number of West Coast, Rocky Mountain and Midwest markets. The Jonah system is commercially managed and operated by Duke Energy Field Services, LP (DEFS), one of the nation's leading natural gas gathering and processing companies.
TEPPCO Partners, L.P. is a publicly traded master limited partnership, which conducts business through various subsidiary operating companies. TEPPCO owns and operates one of the largest common carrier pipelines of refined petroleum products and liquefied petroleum gases in the United States; owns and operates petrochemical and natural gas liquid pipelines; is engaged in crude oil transportation, storage, gathering and marketing; owns and operates natural gas gathering systems; and owns 50-percent interests in Seaway Crude Pipeline Company, Centennial Pipeline LLC, and Mont Belvieu Storage Partners, L.P., and an undivided ownership interest in the Basin Pipeline. Texas Eastern Products Pipeline Company, LLC, an indirect wholly owned subsidiary of Duke Energy Field Services, LLC, is the general partner of TEPPCO Partners, L.P. For more information, visit TEPPCO's Web site at www.teppco.com .
Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve certain risks and uncertainties. These risks and uncertainties include, among other things, market conditions, governmental regulations and factors discussed in TEPPCO Partners, L.P. filings with the Securities and Exchange Commission.
CONTACTS: Kathleen A. Sauve - Media Relations
Brenda J. Peters - Investor Relations
SOURCE TEPPCO Partners, L.P.