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MarkWest Energy Partners, L.P. Message Board

  • moneyonomics moneyonomics Aug 12, 2013 3:35 PM Flag

    MHR trying to get some of it gas into another system to by pass Mobley agreement-sounds like short sighted move

    "...Gary C. Evans - Chairman and Chief Executive Officer

    Remember, all of our gas goes to 1 spot, and that's the MarkWest Mobley plant. So the gas gets handled through that processing agreement not the tailgate of the plant. So we -- the Farley well, which is the new Utica well we drilled, we are looking on another solution for getting that gas to market, which I know the guys at Eureka Hunter are -- have just signed an AFE for getting that pipe laid to another system. So at this point, we haven't had any issues and don't expect any. Obviously, NGL prices have been in the tank. With respect to the overabundance of NGL really generated from this region of the country and really all areas of the Eagle Ford even has created that. So there's many solutions being looked at, and I think that the NGL market will improve. But is that going to happen in 90 days, 6 months or 1.5 years from now. I can't answer that, but we're definitely seeing interest from a lot of other smaller refiners, barging companies moving NGLs to the Gulf Coast, other ways to get it out of their -- the beauty of this part of Appalachia is you have really good navigable waterways. We got the Ohio River, running right between our 2 plays and lots of barging capabilities. So that definitely helps get the product out...."

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    • MHR's comments are pretty funny,actually...you can tell that these folks are strategically pretty out of it..and MWE isn't really worried: if you check the customer satisfaction chart in MWE's June 19th presentation you'll note that MHR is not shown with the rest of the customer emblems. Trying to barge NGLs to the Gulf Coast is ridiculous when you have the JV pipeline with a potential 400,000 barrels/day capacity potentially opening in 2 years. ..and MHR is kind of shopping the Eureka Pipeline package around...one other thing. I suspect,too, that MHR kind of missed out somehow on the big hit scored by Antero in the Sherwood area..it's amazing that MWE Sherwood is ramping up to 800million cryo capacity plus a 38K de-ethanizer all signed for by Antero. And then we have EQT signing for another 200million cryo at Mobley...MWE doesn't need MHR...and MHR could make more money by just drilling and leaving the rest to MWE to figure out.....

 
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