Houston-based pipeline company, Enterprise Products Partners, is set to invest $3.1 billion in new projects in the Permian Basin, signaling its confidence in the region's potential for industry growth. The company expects continued growth in crude oil, natural gas, and NGL (natural gas liquids) production throughout the decade.
New Capital Projects
Enterprise Products Partners plans to allocate its investment across four new capital projects in the Permian Basin. These projects are scheduled to commence operations in 2025. The investments include:
Two Natural Gas Processing Plants: The company will establish two state-of-the-art natural gas processing plants to support the growing demand in the region.
New Pipeline: Enterprise Products Partners will construct a new pipeline to facilitate the transportation of resources across the Permian Basin.
New Natural Gas Liquids Fractionator: To meet the increasing market requirements, the company will build a new natural gas liquids fractionator.
Conversion of Seminole Red Pipeline: In the interim period until the new pipeline is fully operational, Enterprise will convert its existing Seminole Red Pipeline from crude oil service back to NGL service in December.
Demonstrating Commitment
With a total of $6.8 billion in ongoing projects, Enterprise Products Partners exemplifies its commitment to expanding infrastructure and supporting the growth of the Permian Basin.
