HOUSTON--(BUSINESS WIRE)--Feb. 23, 2017--
Enterprise Products Partners L.P. (NYSE: EPD) today announced it has
renegotiated and extended an agreement with Ultra Petroleum Corp. to
process natural gas from Ultra’s production in the Pinedale Field in
southwestern Wyoming. The agreement secures a 20-year supply of natural
gas for Enterprise’s Pioneer cryogenic processing facility in Sublette
The Pioneer cryogenic natural gas processing facility has a total
capacity of 750 million cubic feet per day (“MMcf/d”) and can extract up
to 36,000 barrels per day (“BPD”) of natural gas liquids (“NGL”). The
Pioneer complex also includes a silica gel unit that can process 600
MMcf/d of natural gas and extract up to 1,800 BPD of NGLs, sold as a
condensate in the local market. Enterprise’s Mid-America Pipeline
provides takeaway capacity for the NGLs extracted and offers access to
the most attractive markets along the Gulf Coast.
“We are pleased to enter into this agreement with Ultra, which continues
our relationship with one of the region’s top producers,” said A.J.
“Jim” Teague, chief executive officer of Enterprise’s general partner.
“We expect our Pioneer facility to operate at near full capacity for the
next five to ten years. In addition to providing Enterprise with a
long-term supply of NGLs for our integrated assets, the agreement
further illustrates our commitment and capability to provide our
customers with flow assurance and reliability from the wellhead to
The Ultra agreement is the second long-term contract Enterprise has
executed with a Green River Basin producer in the past three months to
supply incremental natural gas to the company’s Pioneer processing
plant. In December 2016, Enterprise began processing Linn Energy’s Jonah
Field production. Teague added that Enterprise’s continued investment in
Gulf Coast infrastructure is allowing producers to increase the value of
their production by providing access to growing demand for NGL
feedstocks by petrochemical plants, as well as export opportunities.
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 49,300 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: http://www.businesswire.com/news/home/20170223006575/en/
Source: Enterprise Products Partners L.P.
Enterprise Products Partners L.P.
713-381-6812 or 866-230-0745