MarkWest Energy Partners LP announced major infrastructure projects to add 720 million cubic feet per day (MMcf/d) of processing capacity and 10,000 barrels per day (bbl/d) of fractionation capacity. The projects include:
- A seventh 200 MMcf/d processing plant at the Sherwood complex in Doddridge County, W.Va, which is scheduled for completion by third-quarter 2015;
- The new Hillman complex—a sixth processing complex in Washington County, Pa., in the Marcellus Shale—with a processing capacity of 200 MMcf/d, which is planned for completion in first-quarter 2016;
- The 200 MMcf/d Cadiz III plant in Harrison County, Ohio, which is scheduled to begin operations in first-quarter 2015; and
- A fourth processing plant at its Carthage facilities in Panola County, Texas, which will have an initial processing capacity of 520 MMcf/d and is scheduled for completion in first-quarter 2015.
The company also recently placed into service five previously announced infrastructure projects, consisting of:
- Two processing plants with 320 MMcf/d of capacity in the Marcellus Shale;
- A 200 MMcf/d processing plant in the Utica Shale;
- 20,000 bbl/d of ethane and heavier fractionation in the Marcellus Shale; and
- A 40,000 bbl/d de-ethanization facility in the Utica Shale.
The company reported adjusted EBITDA for the three and six months ended June 30, 2014, of $208.2 million and $395.8 million, respectively, compared to $155.7 million and $296.5 million for the respective three and six months ended June 30, 2013.
“We are excited to announce major capacity expansions and record financial and operation performance for the second quarter of 2014,” said Frank Semple, chairman, president and CEO. “The completion of five major infrastructure projects in the Marcellus and Utica Shales over the past three months has provided our producer customers the ability to continue expanding their rich-gas development programs. Due to their ongoing success, we expect overall system volumes to continue to rapidly expand and provide us with unique opportunities to significantly grow cash flow and achieve future distribution growth targets.”
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