Enable Midstream Partners, LP (NYSE:ENBL) announced today its Board of
Directors approved construction of an additional 200-million cubic feet
per day (MMcf/d) of natural gas processing capacity that will be located
near its Bradley Processing Plant to serve producers in the rich gas
play called the South Central Oklahoma Oil Province (SCOOP).
The Bradley Plant is located in Grady County in central Okla., is
currently under construction to provide 200 MMcf/d of processing
capacity, and is expected to be in service during the first quarter of
2015.
“Strong producer activity continues on our Anadarko Basin gathering
systems, particularly in the SCOOP play,” said Lynn Bourdon,
Enable Midstream’s president and CEO. “We already have critical
long-lead plant infrastructure ordered and anticipate a fourth quarter
2015 startup for this additional capacity."
Enable Midstream will invest in excess of $200 million for the project,
including plant equipment, associated compression, and installation
costs. This investment was anticipated in the capital guidance announced
in Enable Midstream's second quarter 2014 earnings release. Other
announced investments include the upgrades to the Cox City processing
facility, construction of a second crude oil gathering pipeline in the
Bakken region in North Dakota and construction of the Bradley Plant.
Enable Midstream added approximately 500,000 gross acres of SCOOP-area
dedicated acreage since Dec. 31, 2013.
The Enable Midstream super-header system currently has seven natural gas
processing plants with 1.285 Bcf/d of processing capacity and the
ability to serve producers in multiple plays in the Anadarko Basin. The
processing super-header allows Enable Midstream to respond quickly to
producers' capacity needs by utilizing available capacity while
additional processing capacity is constructed.
Enable Midstream owns, operates and develops strategically located
natural gas and crude oil infrastructure assets. The company’s assets
include approximately 11,000 miles of gathering pipelines, 12 major
processing plants with approximately 2.1 billion cubic feet per day of
processing capacity, approximately 7,900 miles of interstate pipelines
(including Southeast Supply Header, LLC of which Enable Midstream owns
49.90 percent), approximately 2,300 miles of intrastate pipelines and
eight storage facilities comprising 86.5 billion cubic feet of storage
capacity. For more information visit EnableMidstream.com.
FORWARD-LOOKING STATEMENTS
This press release may contain “forward-looking statements” within the
meaning of the securities laws. All statements, other than statements of
historical fact, regarding Enable Midstream Partners’ strategy, future
operations, financial position, estimated revenues, projected costs,
prospects, plans and objectives of management are forward-looking
statements. These statements often include the words “could,” “believe,”
“anticipate,” “intend,” “estimate,” “expect,” “project,” “forecast” and
similar expressions and are intended to identify forward-looking
statements, although not all forward-looking statements contain such
identifying words. These forward-looking statements are based on Enable
Midstream’s current expectations and assumptions about future events and
are based on currently available information as to the outcome and
timing of future events. Enable Midstream assumes no obligation to and
does not intend to update any forward-looking statements included herein.
When considering forward-looking statements, you should keep in mind the
risk factors and other cautionary statements described under the heading
“Risk Factors” included in our SEC filings. Enable Midstream cautions
you that these forward-looking statements are subject to all of the
risks and uncertainties, most of which are difficult to predict and many
of which are beyond its control, incident to the ownership, operation
and development of natural gas and crude oil infrastructure assets.
These risks include, but are not limited to, contract renewal risk,
commodity price risk, environmental risks, operating risks, regulatory
changes and the other risks described under “Risk Factors” in our SEC
filings. Should one or more of these risks or uncertainties occur, or
should underlying assumptions prove incorrect, Enable Midstream’s actual
results and plans could differ materially from those expressed in any
forward-looking statements.
Copyright Business Wire 2014