HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE: EPD) today announced that the partnership’s $1.5 billion, 270-mile Acadian Haynesville Extension pipeline officially begins commercial service tomorrow, November 1, 2011. With the completion of the project, producers in Louisiana’s prolific Haynesville/Bossier Shale play will have access to 1.8 billion cubic feet per day (“Bcf/d”) of incremental takeaway capacity. By increasing the system’s currently installed 74,000 horsepower of compression, capacity could be increased to 2.1 Bcf/d. The project is supported by long-term, firm contracts with shippers totaling 1.6 Bcf/d.
As an extension of the partnership’s legacy Acadian system, the Haynesville project offers producers access to more than 150 end-use customer service locations along the Mississippi River industrial corridor between Baton Rouge and New Orleans, as well as the Henry Hub. Featuring interconnects with 12 interstate pipeline systems and the only southerly option that avoids potential bottlenecks at the Perryville Hub, the Haynesville Extension offers producers flow assurance and market choice to assist in maximizing the value of their natural gas.
“Superb coordination among the various commercial, engineering, operations, legal and administrative teams at Enterprise, along with the ingenuity of our experienced contractors and support from the local communities all played a significant role in the success of this project,” said Michael A. Creel, president and chief executive officer of Enterprise’s general partner. “In addition to providing producers with a timely and flexible solution, the Acadian Haynesville Extension has also created benefits for the region, the state and the country by providing jobs, additional tax revenues and more supplies of domestic energy.”
Located near half of the approximately 100 drilling rigs currently working in the Haynesville/Bossier Shale region, the Acadian Extension offers attractive economics for producers, while providing Louisiana’s industrial and utility consumers with access to a reliable source of onshore natural gas supply to supplement offshore volumes, thereby reducing their exposure to storm-related disruptions. The Haynesville/Bossier Shale encompasses about two million acres, with current production from the approximately 2,300 wells completed to date estimated at more than 7 Bcf/d. Over 1,000 locations are in various stages of drilling and completion.
Enterprise Products Partners L.P. is the largest publicly traded partnership and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. EPD’s assets include approximately: 50,000 miles of onshore and offshore pipelines; 192 million barrels of storage capacity for NGLs, refined products and crude oil; and 27 billion cubic feet of natural gas storage capacity. Services include: natural gas transportation, gathering, processing and storage; NGL fractionation, transportation, storage, and import and export terminaling; crude oil and refined products storage, transportation and terminaling; offshore production platform; petrochemical transportation and storage; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems and in the Gulf of Mexico. For additional information about Enterprise please visit www.enterpriseproducts.com.
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 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. 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 does not intend to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.