Eagle Ford Shale Midstream Sold

$2.15 Billion Price Tag for Pipelines & Plants
EFS Midstream Operating Area

EFS Midstream Operating Area

Enterprise Products Partners (EPD) will acquire Eagle Ford Shale (EFS) Midstream for a total price of $2.15 billion.

The deal announced this week includes an agreement with Pioneer Natural Resources and Reliance Industries who each own shares in EFS and is expected to be closed in the third quarter this year. The purchase price will be split into two installments, with $1.15 billion to be paid at the transaction closure. The balance of $1 billion will be paid within 12 months of the closing date.

Related: Pioneer Resources Reveals Q4 & 2015 Capex 

Michael A. Creel, chief executive officer of Enterprise said “This ‘bolt on’ acquisition extends our integrated system deeper into the NGL and condensate rich areas of the Eagle Ford, which will provide us with the ability to offer services to additional producers and increase volumes on our system.”

EFS Midstream designs, constructs, owns and operates facilities that provide gas gathering, treating, condensate stabilization, and transportation services for operations in the Eagle Ford Shale and offers nearly 460 miles of natural gas gathering pipelines and ten central gathering plants. The firm maintains 119 thousand barrels of condensate stabilization capacity per day and can treat 780 million ft3 of natural gas daily.

Read more at enterpriseproducts.com

Enterprise Completes 7th NGL Fractionator at Mont Belvieu

Fractionation Capacity Ensures the Value of Eagle Ford NGLs Is Realized
Mont Belvieu Fractionator

Mont Belvieu Fractionator | Click to Enlarge

Enterprise Products brought its seventh fractionator online at the company’s Mont Belvieu Complex earlier in September.

The new unit adds 85,000 b/d of fractionation capacity and expands the company’s capacity at Mont Belvieu to 570,000 b/d.  An eighth plant will be online at the end of the year and will add another 85,000 b/d of capacity. [Read more…]

Plains & Enterprise Announce Eagle Ford JV Pipeline Expansion

Partners Will Spend $120 Million to Increase Capacity to 470,000 b/d
Plains All American Eagle Ford Assets

Plains All American Eagle Ford Assets | Click to Enlarge

Plains All American and Enterprise Products are planning a $120 million expansion of the Eagle Ford JV Pipeline system. The expansion will increase the pipeline’s capacity to 470,000 b/d of light and medium crude grades, as well as increase storage capacity in Corpus Christi, Gardendale, and Tilden by 2.3 million barrels. [Read more…]

The Eagle Ford Is Making Winners Out of Many – Video

Record Production Driving Growth In Midstream Companies

The Eagle Ford is making winners out of several companies. Aimee Duffy, from Motley Fool, notes three companies with even more growth ahead. EOG plans to drill more this year than initially planned and both Enterprise Product Partners and Kinder Morgan will benefit from growing production. [Read more…]

Enterprise Products Third Yoakum Processing Plant Online, Volumes Up

NGL Production Up 532% Over The Past Year
Enterprise Eagle Ford Project Map

Enterprise Products Eagle Ford Shale Projects | Click to Enlarge

Enterprise Product Partners brought its third cryogenic processing plant in Yoakum, TX, online in March and is reaping the benefits. Natural gas processing volumes are up 38% and NGL production is up 532% from one year ago in South Texas. [Read more…]

Natural Gasoline From The Eagle Ford Headed North?

EPD Open Season For Natural Gasoline Pipeline To Chicago
Mont Belvieu Factionator

Mont Belvieu Fractionator | Click to Enlarge

In response to growing production of light crudes and NGLs, Enterprise Product Partners (EPD) is proposing a diluent-quality natural gasoline pipeline from Mont Belvieu to delivery points in and around Chicago. [Read more…]