Enable Midstream Partners, LP (NYSE: ENBL) announced today that on May
1, it completed acquisition of $80 million of strategic natural gas
gathering assets in the Texas Panhandle from Monarch Natural Gas, LLC.
The assets are underpinned by long-term dedication of 35,000 net acres
from a producer who is a current Enable Midstream customer. The 88 miles
of recently built gathering pipeline and 5,000 horsepower of associated
compression will provide gathering services to the natural gas producer
drilling in Lipscomb and Hemphill Counties, as well as other producers
in the area.
The acquisition is immediately accretive to Enable Midstream.
“This acquisition opens new opportunities for us to grow by extending
our midstream services to several producers operating farther west in
the Cleveland Sands Play where wells continue to provide attractive
returns,” according to Enable Midstream President and CEO Lynn Bourdon.
ABOUT ENABLE MIDSTREAM PARTNERS
The partnership owns, operates and develops strategically located
natural gas and crude oil infrastructure assets. The partnership’s
assets include approximately 12,000 miles of gathering pipelines, 13
major processing plants with approximately 2.3 billion cubic feet per
day of processing capacity, approximately 7,900 miles of interstate
pipelines (including Southeast Supply Header, LLC of which the
partnership owns 49.90 percent), approximately 2,300 miles of intrastate
pipelines and eight storage facilities comprising 87.5 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 2015