logo
Share SHARE
FONT-SIZE Plus   Neg

Enterprise Products, Anadarko, And DCP Midstream To Jointly Develop NGL Pipeline

Enterprise Products Partners L.P. (EPD), Anadarko Petroleum Corp. (APC) and DCP Midstream, LLC announced an agreement to design and construct a new natural gas liquids or "NGL" pipeline that will originate in the Denver-Julesburg Basin or "DJ Basin" in Weld County, Colorado and extend approximately 435 miles to Skellytown, Texas in Carson County.

Enterprise Products stated that each party will hold a one-third interest. The company noted that the new Front Range Pipeline, with connections to the Mid-America Pipeline system and the recently announced Texas Express Pipeline, will help producers in the DJ Basin maximize the value of their NGL production by providing reliable takeaway capacity and market access to the Gulf Coast, the largest NGL market in the United States.

Initial capacity on Front Range is expected to be approximately 150,000 barrels per day or "BPD", which can be readily expanded to approximately 230,000 BPD. Enterprise stated that it will construct and operate the pipeline, which is expected to begin service in the fourth quarter of 2013.

In a separte press release, DCP Midstream Partners LP (DPM) announced that it has acquired a 10 percent ownership interest in the Texas Express Pipeline or TEP from Enterprise Products Partners L.P., representing an approximate investment of $85 million in the joint venture.

DCP Midstream stated that Enterprise and Enbridge Energy Partners, L.P. will each own a 35 percent interest in the joint venture, while Anadarko Petroleum will have a 20 percent stake. Additionally, DCP Midstream Partners affiliate, DCP NGL Services, LLC, has committed 20,000 barrels per day or "BPD" to TEP, increasing total long term shipper commitments on TEP from 232,000 BPD to 252,000 BPD.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
American Express Co. (AXP) Thursday reported a drop in fourth-quarter profit, as revenues declined 4 percent due to absence of Costco portfolio while provisions for bad loans and marketing costs increased. Earnings fell short of Wall Street estimates, while revenues trumped expectations. New York-based... Home improvement retailer Lowe's Companies Inc. (LOW) has reportedly informed about 2,400 employees that they will be laid off. The majority of the lay offs are at the store level, while other affected positions are at distribution centers, contact centers and at the company's corporate office in... The U.S. Department of Defense and Lockheed Martin Corp. are reportedly nearing a deal worth $9 billion for F-35 fighter planes. President-elect Donald Trump had earlier heavily criticized the Pentagon for overspending on defense contracts. He had specifically noted the F-35 as an example on how Lockheed...
comments powered by Disqus
RELATED NEWS
Trade DPM now with 
Follow RTT