Enterprise Products (EPD), Anadarko (APC), DCP Midstream Enter Agreement for DJ Basin MGL Pipeline
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Enterprise Products Partners L.P. (NYSE: EPD), Anadarko Petroleum Corporation (NYSE: APC) and DCP Midstream, LLC (NYSE: DPM) today announced an agreement to design and construct a new natural gas liquids pipeline that will originate in the Denver-Julesburg Basin in Weld County, Colorado and extend approximately 435 miles to Skellytown, Texas in Carson County. Each party will hold a one-third interest.
The new Front Range Pipeline, with connections to the Mid-America Pipeline system and the recently announced Texas Express Pipeline, will help producers in the DJ Basin maximize the value of their NGL production by providing reliable takeaway capacity and market access to the Gulf Coast, the largest NGL market in the United States.
Depending on shipper interest to an upcoming binding open commitment period, initial capacity on Front Range is expected to be approximately 150,000 barrels per day, which can be readily expanded to approximately 230,000 BPD. Enterprise will construct and operate the pipeline, which is expected to begin service in the fourth quarter of 2013.
The new Front Range Pipeline, with connections to the Mid-America Pipeline system and the recently announced Texas Express Pipeline, will help producers in the DJ Basin maximize the value of their NGL production by providing reliable takeaway capacity and market access to the Gulf Coast, the largest NGL market in the United States.
Depending on shipper interest to an upcoming binding open commitment period, initial capacity on Front Range is expected to be approximately 150,000 barrels per day, which can be readily expanded to approximately 230,000 BPD. Enterprise will construct and operate the pipeline, which is expected to begin service in the fourth quarter of 2013.
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