- Enterprise Products Partners (EPD -1.7%) says it could expand capacity on its Midland-to-Sealy crude oil pipeline by more than 20% to help transport more oil from the Permian Basin.
- EPD said during this morning's earnings conference call that it expects crude flows on the pipeline to hit 450K bbl/day as soon as April once the line is fully operational, after averaging 330K bbl/day when coming online in November.
- Preparations are underway to potentially further boost capacity on the line by installing pumps and drag reducing agents, said Graham Bacon, executive VP for operations and engineering.
- Separately, EPD said it signed a 50/50 joint venture with Navigator Holdings (NVGS +8.8%) to build a new 1M tons/year ethylene export facility on the U.S. Gulf Coast; it expects the plant to open by 2020.
- EPD also is developing a high-capacity ethylene salt dome storage facility at its complex in Mont Belvieu, Tex., which will have a capacity of ~600M lbs., and a new ethylene pipeline from Mont Belvieu to Bayport, Tex., which is scheduled to begin service in 2020.
- Now read: Enterprise Products Partners (EPD) Presents At UBS Midstream & MLP One-on-One Conference - Slideshow
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