Energy Transfer LP (NYSE: ET) today announced the execution of a suite of gathering, processing, transportation and fractionation agreements with a large, investment- grade integrated energy company (the “Company”). These agreements increase and extend long-term commitments between the Company and Energy Transfer in the Eagle Ford and Delaware Basins through 2034 and 2040, respectively.
The Company will benefit from Energy Transfer’s fully integrated gas gathering, processing and transportation systems as well as its extensive natural gas liquids transportation and fractionation assets. Energy Transfer’s system will provide flow assurance and reliability for the production from the approximately 255,000 net acres that the Company has dedicated to Energy Transfer. The execution of these agreements aligns with Energy Transfer’s focus on achieving long-term sustainable cash flow, via fixed-fee contracts, by increasing the utilization of existing assets and minimizing new capital expenditures.
About Energy Transfer
Energy Transfer LP (NYSE: ET) owns and operates one of the largest and most diversified portfolios of energy assets in the United States, with a strategic footprint in all of the major domestic production basins. ET is a publicly traded limited partnership with core operations that include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (NGL) and refined product transportation and terminalling assets; NGL fractionation; and various acquisition and marketing assets. ET, through its ownership of Energy Transfer Operating, L.P., also owns Lake Charles LNG Company, as well as the general partner interests, the incentive distribution rights and 28.5 million common units of Sunoco LP (NYSE: SUN), and the general partner interests and 46.1 million common units of USA Compression Partners, LP (NYSE: USAC). For more information, visit the Energy Transfer website at www.energytransfer.com.
Forward Looking Statements
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 Report 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.
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Copyright Business Wire 2020
Source: Business Wire
(February 19, 2020 - 4:20 PM EST)
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