New Midstream Joint Venture to Provide Permian Basin NGL Takeaway Capacity
(P&GJ) — Three U.S. midstream companies announced the formation of a joint venture (JV) to provide natural gas liquids takeaway capacity from facilities in the Permian Basin.
The JV consisting of WhiteWater Midstream, MPLX and West Texas Gas, will offer NGL transport from MPLX and WTG gas processing plants in the Permian Basin to the NGL fractionation hub in Sweeny, TX.
WhiteWater Midstream’s Investment in the JV is backed by Ridgemont Equity Partners, Denham Capital Management and the Ontario Power Generation Inc. Pension Plan.
The JV will provide transportation service through the utilization of existing infrastructure with limited initial construction while allowing for future expansions if necessary.
The JV is supported by volumes from key processing plants with long-term commitments from top-tier Permian producers.
As part of this NGL transportation solution, the JV has entered into multiple capacity arrangements from Orla, TX to Sweeny, TX including an agreement with EPIC Y-Grade Pipeline LP (EPIC) to own an undivided joint interest in EPIC’s existing 24” NGL pipeline from West Texas to the Eagle Ford Basin.
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