Enterprise, Anadarko, DCP, MarkWest form Panola NGL pipeline JV in Texas
Enterprise Products, Anadarko Petroleum, DCP Midstream and MarkWest Energy have announced the formation of a joint venture under which Enterprise will assign 45% ownership interest in its wholly-owned Panola Pipeline Company.
The interest will be evenly divided among Anadarko’s affiliate, WGR Asset Holding Company, DCP Midstream Partners and MarkWest. Enterprise will continue to serve as operator of the Panola pipeline and own the remaining 55% interest.
“Developing win-win relationships with strategic partners that bring volume commitments or other contributions to the joint venture is a cornerstone of Enterprise’s growth,” said Michael A. Creel, CEO of Enterprise’s general partner. “We are pleased to form this joint venture that benefits and aligns our partners from the wellhead through the fractionator.”
The Panola pipeline, which transports natural gas liquids (NGL), originates in Carthage, Texas and extends 181 miles to Mont Belvieu, Texas.
Following a successful open season, Enterprise recently announced plans to install 60 miles of new pipeline, as well as pumps and other associated equipment as part of an expansion project designed to increase capacity by 50,000 bpd.
The incremental capacity is expected to be available in the first quarter of 2016.
“With Anadarko’s valuable position in the liquids-rich East Texas area, this joint venture provided an excellent opportunity to expand NGL takeaway incrementally to help facilitate future activity and growth,” said Jacqui Dimpel, Anadarko's midstream vice president.
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