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Natural gas processor and distributor MarkWest Energy Partners LP MWE announced plans to build a dry gas gathering system along with The Energy & Minerals Group (“EMG”). This facility would further increase MarkWest Energy and EMG’s leading midstream position in the Utica shale.
Notably, the gathering system will be backed by a long-term contract with an affiliate of upstream operator Ascent Resources, LLC. Ascent holds about 280,000 net acres in the Marcellus and Utica shale plays. The company has allocated about 100,000 gross acres in northern Belmont and Jefferson counties, OH to this gathering system.
Growing production from Ascent’s properties will provide initial support to this gathering system. However, the facility is expected to tend to the needs of other producers in the region as well.
MarkWest Energy expects to benefit from this gathering system by capitalizing on the production growth in the Utica shale. The partnership plans investments of more than $1 billion over the next three years in this dry gas gathering system.
The 2 billion cubic feet per day gathering system is expected to commence operations by the end of this year. The gathering system will be developed by MarkWest Energy and EMG under a new joint venture in which, MarkWest Energy will have two-third ownership while EMG will hold the rest.
Currently, both these parties, along with Summit Midstream Partners, LLC, own Ohio Gathering Company, L.L.C., another gathering system located in the Utica shale. This gathering system supports production from Gulfport Energy Corporation GPOR and Rice Energy RICE.
The partnership also expects its previously announced merger with MPLX LP MPLX to provide further growth opportunities.
Denver, CO-based MarkWest Energy Partners holds a diverse portfolio of midstream assets that generate stable and recurring revenues by way of long-term fee-based contracts. Currently, MarkWest Energy carries a Zacks Rank #3 (Hold).
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MarkWest Energy Partners LP
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CODE : MWE |
ISIN : US5707591005 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
MarkWest Energy est une société d’exploration minière et de pétrole basée aux Etats-Unis D'Amerique. MarkWest Energy est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 11,1 milliards US$ (9,9 milliards €). La valeur de son action a atteint son plus bas niveau récent le 01 mai 2009 à 10,05 US$, et son plus haut niveau récent le 25 septembre 2015 à 48,00 US$. MarkWest Energy possède 231 560 000 actions en circulation. |