We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Enterprise to Expand Natural Gas Processing Unit in Texas
Read MoreHide Full Article
Enterprise Products Partners L.P. (EPD - Free Report) announced that it is boosting the capacity of its cryogenic natural gas processing facility, currently under construction near Orla, TX in Reeves County by 300 million cubic feet per day (MMcf/d).
A second processing train at the facility – Orla II – will enhance the inlet capacity of the facility twofold to 600,000 MMcf/d and increase extraction of natural gas liquids (NGLs) to 80,000 barrels per day (BPD) from 40,000 BPD.
NGLs from Orla will be carried into Enterprise’s fully integrated NGL system, including the recently announced Shin Oak Pipeline. The Shin Oak Pipeline – a 24-inch NGL pipeline – originates at the partnership’s Hobbs NGL fractionation and storage facility in Gaines County, TX and will transfer Permian Basin NGLs to the partnership’s Mont Belvieu NGL complex.
Initially, Shin Oak will have a capacity of 250,000 BPD, which will gradually be expandable to 600,000 BPD. Orla’s excess natural gas volumes will be transported to the Waha area via Enterprise’s Texas Intrastate system. The Orla II expansion project is intended to support the continued growth in NGL-rich natural gas production from the Delaware Basin of West Texas and southeastern New Mexico. It is also supported by long-term commitments.
The expansion of the Orla facility will take the partnership’s total natural gas processing capacity to over 1 billion cubic feet per day of processing capacity and over 150,000 BPD of NGL extraction capacity in the Permian Basin. The Orla II capacity is anticipated to be available in the third quarter of 2018.
This project emphasizes Enterprise’s business philosophy of leveraging its integrated midstream network to connect supplies and markets. Enterprise provides Delaware Basin producers the connectivity to a full slate of services and end users along the Gulf Coast, by offering direct access to its extensive natural gas and NGL pipeline infrastructure.
Investor confidence in the Enterprise stock is reflected in its price performance. Shares of the company lost 1.8% over the last three months while the Zacks categorized Oil & Gas – Product/Pipeline MLP industry declined 9.6% in the same time span.
Delek US Holdings delivered a positive earnings surprise of 148.48% in the preceding quarter. The company beat estimates in each of the four trailing quarters with an average positive earnings surprise of 60.68%.
Gran Tierra Energy delivered a positive earnings surprise of 105.88% in the preceding quarter. The company beat estimates in two of the three trailing quarters with an average positive earnings surprise of 18.63%.
Canadian Natural Resources delivered a positive earnings surprise of 30.77% in the preceding quarter. It surpassed estimates in two of the four trailing quarters with an average negative earnings surprise of 275.46%.
"5 Trades Could Profit ""Big-League"" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>"
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Enterprise to Expand Natural Gas Processing Unit in Texas
Enterprise Products Partners L.P. (EPD - Free Report) announced that it is boosting the capacity of its cryogenic natural gas processing facility, currently under construction near Orla, TX in Reeves County by 300 million cubic feet per day (MMcf/d).
A second processing train at the facility – Orla II – will enhance the inlet capacity of the facility twofold to 600,000 MMcf/d and increase extraction of natural gas liquids (NGLs) to 80,000 barrels per day (BPD) from 40,000 BPD.
NGLs from Orla will be carried into Enterprise’s fully integrated NGL system, including the recently announced Shin Oak Pipeline. The Shin Oak Pipeline – a 24-inch NGL pipeline – originates at the partnership’s Hobbs NGL fractionation and storage facility in Gaines County, TX and will transfer Permian Basin NGLs to the partnership’s Mont Belvieu NGL complex.
Initially, Shin Oak will have a capacity of 250,000 BPD, which will gradually be expandable to 600,000 BPD. Orla’s excess natural gas volumes will be transported to the Waha area via Enterprise’s Texas Intrastate system. The Orla II expansion project is intended to support the continued growth in NGL-rich natural gas production from the Delaware Basin of West Texas and southeastern New Mexico. It is also supported by long-term commitments.
The expansion of the Orla facility will take the partnership’s total natural gas processing capacity to over 1 billion cubic feet per day of processing capacity and over 150,000 BPD of NGL extraction capacity in the Permian Basin. The Orla II capacity is anticipated to be available in the third quarter of 2018.
This project emphasizes Enterprise’s business philosophy of leveraging its integrated midstream network to connect supplies and markets. Enterprise provides Delaware Basin producers the connectivity to a full slate of services and end users along the Gulf Coast, by offering direct access to its extensive natural gas and NGL pipeline infrastructure.
Investor confidence in the Enterprise stock is reflected in its price performance. Shares of the company lost 1.8% over the last three months while the Zacks categorized Oil & Gas – Product/Pipeline MLP industry declined 9.6% in the same time span.
Enterprise currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the same space include Delek US Holdings, Inc. (DK - Free Report) , Gran Tierra Energy Inc. (GTE - Free Report) and Canadian Natural Resources Limited Ltd. (CNQ - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Delek US Holdings delivered a positive earnings surprise of 148.48% in the preceding quarter. The company beat estimates in each of the four trailing quarters with an average positive earnings surprise of 60.68%.
Gran Tierra Energy delivered a positive earnings surprise of 105.88% in the preceding quarter. The company beat estimates in two of the three trailing quarters with an average positive earnings surprise of 18.63%.
Canadian Natural Resources delivered a positive earnings surprise of 30.77% in the preceding quarter. It surpassed estimates in two of the four trailing quarters with an average negative earnings surprise of 275.46%.
"5 Trades Could Profit ""Big-League"" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>"