Enterprise Conducts Open Season for West Texas Crude Oil System Expansion

Enterprise Products Partners L.P. (NYSE: EPD) today announced a binding
open season for expansion capacity on its Enterprise Crude Pipeline LLC
(“ECPL”) West Texas System, which transports crude oil from points in
New Mexico to the company’s terminal in Midland, Texas. The expansion of
the West Texas System is designed to facilitate growing production of
crude oil from the Delaware Basin in New Mexico by providing much-needed
pipeline takeaway capacity.

The open season is seeking customer commitments for incremental capacity
on the West Texas System from ECPL’s Lynch, Hobbs and Red Hills stations
in Lea County, New Mexico, to the Midland terminal. At Midland, shippers
will have access to storage and terminal services, as well as
connectivity to multiple transportation alternatives such as trucking
and pipeline infrastructure that offer access to various downstream
markets, including the Gulf Coast. Service on the expanded West Texas
System is expected to begin in the third quarter of 2018.

The Binding Open Season Commitment Period will begin May 25, 2018 at 4
p.m. CDT and continue until 5 p.m. CDT June 24, 2018. Additional
details, including a Notice of Binding Open Season Commitment Period and
the required form of Transportation Services Agreement, will be
distributed to potential shippers who execute a Confidentiality
Agreement. Requests for additional information and the Confidentiality
Agreement may be directed to Michael Cisarik at (713) 381-6460 or mjcisarik@eprod.com.

Enterprise Products Partners L.P. is one of the largest publicly traded
partnerships and a leading North American provider of midstream energy
services to producers and consumers of natural gas, NGLs, crude oil,
refined products and petrochemicals. Enterprise’s services include:
natural gas gathering, treating, processing, transportation and storage;
NGL transportation, fractionation, storage and import and export
terminals; crude oil gathering, transportation, storage and terminals;
petrochemical and refined products transportation, storage and
terminals; and a marine transportation business that operates primarily
on the United States inland and Intracoastal Waterway systems. The
partnership’s assets include approximately 50,000 miles of pipelines;
260 million barrels of storage capacity for NGLs, crude oil, refined
products and petrochemicals; and 14 billion cubic feet of natural gas
storage capacity.

This press release includes “forward-looking statements” as defined
by the Securities and Exchange Commission. All statements, other than
statements of historical fact, included herein that address activities,
events, developments or transactions that Enterprise Products Partners
L.P. expects, believes, or anticipates will or may occur in the future,
including anticipated benefits and other aspects of such activities,
events, developments or transactions, are forward-looking statements.
These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially,
including required approvals by regulatory agencies, the possibility
that the anticipated benefits from such activities, events, developments
or transactions cannot be fully realized, the possibility that costs or
difficulties related thereto will be greater than expected, the impact
of competition and other risk factors included in the reports filed with
the Securities and Exchange Commission by Enterprise Products Partners
L.P. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of their dates. Except
as required by law, Enterprise Products Partners L.P. does not intend to
update or revise their forward-looking statements, whether as a result
of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180525005573/en/

News by QuoteMedia

www.quotemedia.com