DENVER -- (Business Wire)
MarkWest Energy Partners, L.P. (NYSE: MWE) (“MarkWest” or “the
Partnership”) announced today an operational update regarding the
continued development of midstream infrastructure projects in the
liquids-rich areas of the Marcellus and Utica Shales.
In the Marcellus Shale, the Partnership has safely resumed operations of
Plant III at the Houston processing and fractionation complex (“Houston
complex”) in Washington County, PA. The Houston complex consists of
three processing plants totaling 355 million cubic feet per day (MMcf/d)
and 98,000 barrels per day (Bbl/d) of ethane and heavier fractionation
capacity. Plant III is a 200 MMcf/d cryogenic facility that has been
offline since May 28th, 2014 after the facility’s heat
exchanger was damaged.
During the period required to complete all necessary repairs to
Houston’s Plant III, MarkWest was able to minimize disruption to its
producer customers by utilizing its large, high-pressure, rich-gas
header system to route gas to the Majorsville complex in Marshall
County, West Virginia for processing.
In the Utica Shale, MarkWest Utica EMG, L.L.C. (“MarkWest Utica EMG”), a
joint venture between MarkWest and The Energy and Minerals Group
(“EMG”), is in startup mode for its third cryogenic processing plant at
the Seneca complex in Noble County, Ohio. The 200 MMcf/d Seneca III
plant will increase total processing capacity at the complex to 600
MMcf/d. The Seneca complex is supported by long-term, fee-based
contracts with Antero Resources Corporation (NYSE: AR), Gulfport Energy
Corporation (NASDAQ: GPOR), Rex Energy Corporation (NASDAQ: REXX), PDC
Energy Inc. (NASDAQ: PDCE), and other producers. MarkWest Utica EMG
continues to expand capacity at the Seneca complex and will complete a
fourth 200 MMcf/d plant in the second quarter of 2015.
In addition to the Seneca complex, MarkWest Utica EMG’s Cadiz complex in
Harrison County, Ohio, also continues to grow rapidly. MarkWest Utica
EMG recently completed a 40,000 barrel per day de-ethanization facility
at the Cadiz complex. This new facility will provide MarkWest Utica
EMG’s producer customers’ with the ability to meet residue gas quality
specifications and downstream ethane pipeline commitments. Ethane
produced at the new Cadiz facility will be delivered to the ATEX
pipeline. In addition, during the third quarter of 2014, the Cadiz II
plant will become operational and increase total cryogenic processing
capacity at the Cadiz complex to 325 MMcf/d.
MarkWest has completed 25 major infrastructure projects in the last two
years, totaling over 3 billion cubic feet per day of processing capacity
and nearly 200,000 Bbl/d of fractionation capacity to support producers’
midstream requirements primarily in the Marcellus and Utica Shales. In
the remaining six months of 2014, the Partnership will complete five
additional projects in the Northeast and is constructing eight
additional projects, that are scheduled to begin operations in 2015 and
beyond.
While continuing to execute the largest growth program in its history,
MarkWest has again achieved the first place ranking for Total
Satisfaction in the 2014 Oil & Natural Gas Midstream Services Customer
Satisfaction Survey. Conducted by EnergyPoint Research, this survey is
the industry benchmark for overall customer satisfaction in midstream
services. This is the third consecutive survey that the Partnership has
earned the top honor for Total Satisfaction, and the first since
EnergyPoint began conducting the survey on an annual basis. In total,
MarkWest has achieved the highest ranking for total customer
satisfaction in four out of five surveys that EnergyPoint has conducted
since 2006.
MarkWest led all midstream service providers in the 2014 survey,
receiving top honors in five additional categories including,
Operations, Gas & NGL Purchasing, NGL Transportation & Storage, and
Appalachian Basin – Marcellus and Ark-La-Tex regions.
“We are very excited to announce the completion of new processing and
fractionation facilities in the Utica Shale, the completion of the
Houston III repairs and the results of EnergyPoint’s most recent
survey,” stated Frank Semple, Chairman, President, and Chief Executive
Officer of MarkWest. “Our employee’s ongoing ability to deliver best of
class customer service continues to drive our substantial organic growth
program throughout all our operating areas.”
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MarkWest Energy Partners, L.P. is a master limited partnership engaged
in the gathering, processing and transportation of natural gas; the
gathering, transportation, fractionation, storage and marketing of
natural gas liquids; and the gathering and transportation of crude oil.
MarkWest has a leading presence in many unconventional gas plays
including the Marcellus Shale, Utica Shale, Huron/Berea Shale,
Haynesville Shale, Woodford Shale and Granite Wash formation.
This press release includes “forward-looking statements.” All statements
other than statements of historical facts included or incorporated
herein may constitute forward-looking statements. Actual results could
vary significantly from those expressed or implied in such statements
and are subject to a number of risks and uncertainties. Although
MarkWest believes that the expectations reflected in the forward-looking
statements are reasonable, MarkWest can give no assurance that such
expectations will prove to be correct. The forward-looking statements
involve risks and uncertainties that affect operations, financial
performance, and other factors as discussed in filings with the
Securities and Exchange Commission (SEC). Among the factors that could
cause results to differ materially are those risks discussed in the
periodic reports filed with the SEC, including MarkWest’s Annual Report
on Form 10-K for the year ended December 31, 2013. You are urged to
carefully review and consider the cautionary statements and other
disclosures made in those filings, specifically those under the heading
“Risk Factors.” MarkWest does not undertake any duty to update any
forward-looking statement except as required by law.
The Energy & Minerals Group is a Houston-based management company for a
series of specialized private equity funds that focuses on investing
across various facets of the global natural resource industry including
the upstream and midstream segments of the energy complex. The firm was
founded in 2006 by John T. Raymond (majority owner and CEO) and John
Calvert. EMG has approximately $15.4 billion of regulatory assets under
management, and approximately $6.6 billion in commitments have been
allocated across the energy sector since inception. For additional
information on EMG, please contact Alexandra Coolidge at 713-579-5029.
Contacts:
MarkWest Energy Partners, L.P.
Frank Semple, 866-858-0482
Chairman,
President & CEO
or
Nancy Buese, 866-858-0482
Executive
VP & CFO
or
Josh Hallenbeck, 866-858-0482
VP of
Finance & Treasurer
investorrelations@markwest.com
Source: MarkWest Energy Partners, L.P.
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