Enterprise to Begin Open Season for Proposed Expansion of Panola NGL
HOUSTON -- December 27, 2012
Enterprise Products Partners L.P. (NYSE:EPD) affiliate Panola Pipeline
Company, LLC (“Panola”) today announced the start of a binding open season to
seek shipper support for a proposed expansion of the Carthage to Lufkin
segment of its natural gas liquids (“NGL”) pipeline system. The Panola
Pipeline is a 181-mile pipeline that originates near Carthage in Panola
County, Texas and supports the Haynesville and Cotton Valley oil and gas
production areas. The pipeline extends to destination points at Mont Belvieu
in Chambers County, Texas, enabling shippers to access the world’s largest NGL
fractionation complex, including facilities owned and operated by Enterprise.
Depending on shipper response to the open season, the Panola expansion project
will be designed to accommodate approximately 15,000 barrels per day (“BPD”)
of incremental capacity. Achieving the additional capacity would involve
installing pumps and related equipment. The additional capacity would be
available mid to late second quarter of 2013.
The open commitment period begins today at 9 a.m. CST and will close on
Friday, January 11, 2013 at 5 p.m. CST. For commercial inquiries or additional
information related to the open commitment period, please contact Chad Aldrich
at (713) 381-6427 or firstname.lastname@example.org.
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. The partnership’s assets include approximately
50,700 miles of onshore and offshore pipelines; 190 million barrels of storage
capacity for NGLs, petrochemicals, refined products and crude oil; and 14
billion cubic feet of natural gas storage capacity. Services include: natural
gas gathering, treating, processing, transportation and storage; NGL
transportation, fractionation, storage, and import and export terminals; crude
oil and refined products transportation, storage and terminals; offshore
production platforms; petrochemical transportation and services; and a marine
transportation business that operates primarily on the United States inland
and Intracoastal Waterway systems and in the Gulf of Mexico. For additional
information, visit www.enterpriseproducts.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 expects, believes or anticipates 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. 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.
Enterprise Products Partners L.P.
Randy Burkhalter, (713) 381-6812 or (866) 230-0745
Rick Rainey, (713) 381-3635
Press spacebar to pause and continue. Press esc to stop.