PITTSBURGH—The 2018 Marcellus-Utica Midstream Conference got underway Jan. 31 with opening keynote speaker Robert Phillips, chairman, president and CEO of Crestwood Equity Partners LP (NYSE: CEQP), declaring “2017 was a good year, 2018 is going to be a great year” for his company, which operates diversified midstream assets in active basins across the U.S., including a significant gathering operation in the Marcellus.
He also told an audience of about 1,000 that the Marcellus-Utica’s unparalled natural gas resources have long-term growth potential not only for Crestwood, but also the entire industry. “In our view, it has an endless supply of gas for both the Northeast gas markets and the rest of the U.S.”
Already, the Marcellus-Utica accounts for 35% of natural gas production in the U.S. at about 22 billion cubic feet per day (Bcf/d) to 25 Bcf/d. “It is the largest single source and a vital source to all the markets now,” Phillips said.