Under the JV, Enterprise will allocate 45% ownership interest in its wholly owned Panola Pipeline Company, which will be equally held by Anadarko’s affiliate WGR Asset Holding (WGR), DCP Midstream Partners and MarkWest.
Enterprise will own the remaining 55% stake and will continue to serve as operator of the Panola Pipeline, which transports natural gas liquids (NGL) from Carthage, Texas to Mont Belvieu, Texas.
Recently, Enterprise proposed deplyment of 60 miles of new pipeline, pumps and other associated equipment as part of the Panola Pipeline expansion project aimed at boosting its capacity by 50,000 barrels per day (BPD).
Enterprise general partner CEO Michael Creel said: "Developing win-win relationships with strategic partners that bring volume commitments or other contributions to the joint venture is a cornerstone of Enterprise’s growth."
MarkWest chairman, president, and CEO Frank Semple said: "The expansion of the Panola Pipeline system will provide additional capacity for producers’ growing NGL production and enable us to continue growing our midstream presence in Panola County, Texas."
