HOUSTON, May 16, 2013 (GLOBE NEWSWIRE) -- Cardinal Gas Storage Partners LLC announced today that two of its wholly-owned interstate natural gas storage subsidiaries, Cadeville Gas Storage LLC (Cadeville) and Perryville Gas Storage LLC (Perryville) have commenced service as of May 1, 2013. Cadeville, a depleted reservoir storage facility, provides approximately 17.0 billion cubic feet ("BCF") of working gas capacity. Additionally, Perryville is expected to initially provide approximately 8.5 BCF of working gas capacity from its first salt dome cavern.
"We are pleased to announce the completion of Cadeville and Perryville, having placed both facilities in service on schedule, under budget and fully contracted," said Jeff Ballew, President and CEO of Cardinal. "This is unprecedented in today's environment for storage development and is a testament to the hard work and dedication of Cardinal employees. We are excited to be placing both of these facilities in service at these highly liquid strategic locations on behalf of our customer base."
For additional information concerning these and other Cardinal facilities, please visit us at www.cardinalgs.com.
Cardinal is a joint venture between Redbird Gas Storage LLC ("Redbird") and funds controlled by Energy Capital Partners, LLC ("ECP"). Since its inception in 2008, Cardinal has been focused on the development, construction, operation and management of natural gas storage facilities throughout North America. Cardinal also owns Arcadia Gas Storage LLC and Monroe Gas Storage Company LLC.
About Redbird Gas Storage LLC
Redbird is wholly-owned by Martin Midstream Partners L.P. (MMLP) and invests in natural gas storage related opportunities through its ownership interests in Cardinal. MMLP is a publicly traded limited partnership with a diverse set of operations focused primarily in the United States Gulf Coast region. MMLP's primary business lines include: terminalling, storage and packaging services for petroleum products and by-products; NGL distribution services and natural gas storage; sulfur and sulfur-based product handling, processing, manufacturing, marketing and distribution; and marine transportation services for petroleum products and by-products.
Additional information concerning MMLP is available on its website at www.martinmidstream.com.
About Energy Capital Partners
Energy Capital Partners is a private equity firm with offices in Short Hills, New Jersey and San Diego, California. ECP is focused on investing in the power generation, electric transmission, midstream gas and renewable energy sectors of North America's energy infrastructure. The fund's management has substantial experience leading successful energy companies and energy infrastructure investments. For more information, visit www.ecpartners.com.
Cardinal Gas Storage Partners LLC