Copano Energy is adding another 400 mmcf/d processing plant at its Colorado County facility. The cryogenic plant is being built is response to producer demand from the Eagle Ford Shale. The Houston Central complex will have 1.0 Bcf/d of capacity when the project is complete. Copano expects to spend $190 million to construct the facility. The plant is supported by a commitment from a major operator in the Eagle Ford and expected in-service is mid-2014.
"This second cryogenic expansion project reaffirms our commitment to being a leading midstream service provider in the Eagle Ford shale," said R. Bruce Northcutt, President and Chief Executive Officer of Copano Energy. "While we expect to invest capital for this project at a 5-times multiple or better, our producers and customers will also benefit from the expansion through enhanced performance and improved recovery of natural gas liquids."
This is the second major expansion of the facility. The first, is already under construction and will be completed in early 2013.
2012 has been full of midstream announcements. You can read more at our Pipeline and Midstream News page.
Read the full press release at copano.com