Copano Energy provided an update on its Eagle Ford operations in May. Highlights include:

• Copano is investing $1 billion in organic projects
• Has committed volumes of ~1 Bcf/d with 10 year terms from producers
• Houston Central (200 mmcfd)cryogenic plant is performing better than expected
• Lean oil plant at Houston Central realizing lower recoveries than expected
• New 400 mmcfd cryogenic plant at Houston Central will improve margins further Q1 2013. Another 400 mmcfd expansion coming in 2014
• High NGL content in the Eagle Ford creates short-term constraints, but long-term opportunity

Other growth projects and notes

• DK Pipeline extension will reach into McMullen County by Q2 2013 ($120 million)
• Double Eagle Condensate Pipeline JV - Copano will spend $100 million on the 140 mile condensate gathering system. Building system in partnership with Magellan Midstream (100,000 b/d of capacity planned)

Find the full presentation at copanoenergy.com