HOUSTON--(BUSINESS WIRE)--Apr. 16, 2018--
Enterprise Products Partners L.P. (NYSE:EPD) today announced that its
416-mile Midland-to-Sealy pipeline is now in full service with an
expanded capacity of 540,000 barrels per day ("BPD") and capable of
transporting batched grades of crude oil and condensate. With the
completion of incremental tankage, as well as infrastructure and
operating enhancements, the pipeline has an expected capacity of 575,000
BPD which is expected to come online in May and is fully subscribed
under long-term contracts.
At its terminus in Sealy, Texas, the pipeline connects directly to
Enterprise's 36-inch diameter Rancho II crude oil pipeline, which
extends to the company's 7.4 million barrel ECHO crude oil terminal in
southeast Houston. The completion of the Midland-to-ECHO pipeline system
provides a fully integrated solution allowing Permian Basin producers to
deliver multiple grades of crude oil all the way to the Gulf Coast,
including West Texas Intermediate, Light West Texas Intermediate, West
Texas Sour and Condensate.
Supporting Enterprise's Permian Basin solution is a strategic
aggregation program that includes construction of a 143-mile pipeline
system, which is expected to deliver more than 300,000 BPD of crude oil
and condensate from the Delaware Basin into Enterprise's Midland
Terminal. The project is on schedule for completion in July 2018 and is
supported by long-term commitments with shippers.
"With crude oil production from the Permian Basin projected to grow by
approximately 60 percent to more than 5 million BPD over the next four
years, Enterprise's pipeline system from Midland to Houston provides
customers with much needed flow assurance and market choices," said A.J.
"Jim" Teague, chief executive officer of Enterprise's general partner.
"From our ECHO terminal, customers can access the major Gulf Coast
refineries in the Houston, Texas City and Beaumont/Port Arthur areas,
which represent more than 4 million BPD of capacity, as well as
Enterprise's extensive network of deepwater docks. As crude oil
production continues to grow, access to the water has never been more
important, and Enterprise is well positioned to facilitate the growing
global demand for U.S. production."
Teague added, "In the process of expanding our crude oil services,
maintaining product quality is of paramount importance. In that regard,
both of our newly constructed pipelines are capable of transporting
batched grades of crude oil and condensate, consistent with our quality
assurance program and expectations of our producing and refining
customers, both domestic and international."
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 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
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180416005512/en/
Source: Enterprise Products Partners L.P.
Enterprise Products Partners L.P.
Burkhalter, 713-381-6812 or 866-230-0745
Rick Rainey, 713-381-3635