Wired News – Enterprise Products Partners, Western Gas Partners, and DCP Seek to Expand the Front Range Pipeline and Texas Express Pipeline
LONDON, UK / ACCESSWIRE / May 07, 2018 / If you want access to our free research report on Enterprise Products Partners L.P. (NYSE: EPD), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=EPD as the Company's latest news hit the wire. On May 03, 2018, the Company, together with Western Gas Partners LP (NYSE:WES) and DCP Midstream LP (NYSE: DCP) collectively declared a binding open season for additional capacity on the Front Range Pipeline. The Front Range Pipeline currently transports mixed natural gas liquids (NGL) from the Denver-Julesburg (DJ) Basin in Weld County, Colorado to Skellytown, Texas in Carson County. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Enterprise Products Partners and Western Gas Partners most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Project Expansion Details
Enterprise Products Partners, Western Gas Partners, and DCP Midstream each own a 33.33% interest in Front Range pipeline. They intend to expand the Front Range pipeline by around 100,000 barrels per day (BPD) to a total capacity of approximately 250,000 BPD, subject to customer commitments during the open season.
The expansion project comprises the construction of additional pump stations along the 435-mile route. The partners expect service on the expanded Front Range pipeline to start in the second quarter of the fiscal year 2019.
Expansion Driven by Increasing Demand
The Front Range pipeline is being expanded to support the growing production of NGLs from the DJ Basin. In fact, NGL production is expected to rise further by about 40% over the next four years as the development of oil and natural gas continues. This is a result of the shale revolution.
Moreover, an additional 800 million cubic feet per day of natural gas processing capacity is also expected to come online by the end of 2019.
The Binding Open Season Commitment Period commenced on May 04, 2018, at noon CDT, and would continue until 5 p.m. CDT, June 04, 2018. The partners have also distributed a Notice of Binding Open Season Commitment Period to shippers.
Expansion in Texas Express Pipeline for an Integrated Solution
Alongside, Enterprise Products Partners, Western Gas Partners, and DCP Midstream LP also announced the expansion in the capacity of the 583-mile Texas Express pipeline on May 03, 2018. The Texas Express pipeline transports mixed NGLs from Skellytown, Texas in Carson County, to the NGL fractionation and storage complex in Mont Belvieu, Texas. It must be noted that an expanded Front Range system, which links to the Texas Express pipeline, is a very important part of an integrated solution that would provide DJ producers with flow assurance and greater access to the Gulf Coast market.
The partners intend to expand Texas Express by approximately 90,000 BPD, subject to customer commitments during the open season. The expansion project comprises the construction of additional pumping capacity along the 583-mile route. The partners expect service on the expanded Texas Express pipeline to commence in the second quarter of 2019.
Stock Performance Snapshot
May 04, 2018 - At Friday's closing bell, Enterprise Products Partners' stock was marginally up 0.19%, ending the trading session at $26.71.
Volume traded for the day: 4.84 million shares.
Stock performance in the last month – up 11.14%; previous three-month period – up 0.18%; past twelve-month period – up 2.80%; and year-to-date - up 2.38%
After last Friday's close, Enterprise Products Partners' market cap was at $57.27 billion.
Price to Earnings (P/E) ratio was at 20.67.
The stock has a dividend yield of 6.40%.
The stock is part of the Basic Materials sector, categorized under the Independent Oil & Gas industry. This sector was up 0.7% at the end of the session.
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