DALLAS--(BUSINESS WIRE)--Nov. 5, 2014--
Energy Transfer Partners, L.P. (NYSE: ETP) today announced that
it has entered into additional long-term gas gathering and processing
agreements with producers in the growing Eagle Ford and Eaglebine
production areas of south and southeast Texas. To facilitate these
agreements, ETP has begun construction on two new cryogenic gas
processing plants and additional gas gathering pipelines.
East Texas Plant
The East Texas Plant, a 200 million cubic feet per day cryogenic gas
processing plant, will be constructed and installed east of the
Partnership’s La Grange Plant. The new plant is expected to be
constructed and placed in-service by the fourth quarter of 2015. The
Volunteer Pipeline, as further detailed below, will deliver rich gas to
the East Texas Plant for processing with the resulting natural gas
liquids and residue gas delivered to Lone Star NGL LLC’s pipeline and
ETP’s Southeast Bossier 42-inch gas pipeline, respectively.
The approximate 70-mile, 24-inch Volunteer Pipeline will have an initial
capacity of 200 million cubic feet per day that will be expandable to
over 400 million cubic feet per day with the addition of compression.
The Volunteer Pipeline will originate in eastern Brazos County, Texas at
an interconnect with ETP’s Southeast Texas Pipeline System, a gas
gathering system consisting of over 5,000 miles of pipe and over 80,000
horsepower of compression, and will extend to the Partnership’s new East
Texas Plant. The pipeline is expected to be constructed and placed
in-service by the fourth quarter of 2015.
REM Eagle Ford Plant II
Also in light of ETP’s continuing success in securing long-term,
fee-based gathering and processing agreements along ETP’s REM system,
the Partnership has started construction of a new 200 million cubic feet
per day cryogenic gas processing plant in the Eagle Ford production area
that is expected to be online by June of 2015. This plant will be fully
subscribed once it is on line and will deliver the residue gas into
ETP’s HPL intrastate pipeline system and the natural gas liquids into
Lone Star NGL LLC’s pipeline system. By the end of 2015, ETP expects to
have in service approximately 1.8 billion cubic feet per day of
cryogenic processing capacity in the Eagle Ford and Eaglebine plays in
south and southeast Texas with expected NGL barrels recovered reaching
250,000 barrels per day.
The East Texas Plant, REM Eagle Ford Plant II and Volunteer Pipeline
projects, estimated to cost between $375 and $410 million in aggregate,
will add to ETP’s ever-growing presence in south and southeast Texas
where ETP has already spent in excess of $3 billion on pipelines, plants
and associated infrastructure in the last several years, resulting in
strong distributable cash flow to the Partnership.
Energy Transfer Partners, L.P. (NYSE: ETP) is a master limited
partnership owning and operating one of the largest and most diversified
portfolios of energy assets in the United States. ETP currently owns and
operates approximately 35,000 miles of natural gas and natural gas
liquids pipelines. ETP also owns 100% of Panhandle Eastern Pipe Line
Company, LP (the successor of Southern Union Company) and a 70% interest
in Lone Star NGL LLC, a joint venture that owns and operates natural gas
liquids storage, fractionation and transportation assets. ETP also owns
the general partner, 100% of the incentive distribution rights, and
approximately 67.1 million common units in Sunoco Logistics Partners
L.P. (NYSE: SXL), which operates a geographically diverse portfolio of
crude oil and refined products pipelines, terminalling and crude oil
acquisition and marketing assets. ETP owns 100% of Sunoco, Inc. and 100%
of Susser Holdings Corporation. Additionally ETP owns the general
partner, 100% of the incentive distribution rights and approximately 44%
of the limited partnership interests in Sunoco LP (formerly Susser
Petroleum Partners LP) (NYSE: SUN), a wholesale fuel distributor and
convenience store operator. ETP’s general partner is owned by ETE. For
more information, visit the Energy Transfer Partners, L.P. web site at www.energytransfer.com.
This press release may include certain statements concerning
expectations for the future that are forward-looking statements as
defined by federal law. Such forward-looking statements are subject to a
variety of known and unknown risks, uncertainties, and other factors
that are difficult to predict and many of which are beyond management’s
control. An extensive list of factors that can affect future results are
discussed in the Partnership’s Annual Reports on Form 10-K and other
documents filed from time to time with the Securities and Exchange
Commission. The Partnership undertakes no obligation to update or revise
any forward-looking statement to reflect new information or events.
The information contained in this press release is available on our
website at www.energytransfer.com.
Source: Energy Transfer Partners, L.P.
Vicki Granado, 214-599-8785