Enterprise Announces Start of Service on Acadian Haynesville Extension

abarrelfullabarrelfull wrote on 31 Oct 2011 11:53
Tags: enterprise pipeline usa

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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.

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