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Released August 02, 2023 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Although Enterprise Products Partners LP's (NYSE:EPD) (Houston, Texas) $1.3 billion in second-quarter 2023 earnings were down slightly from the corresponding period of 2022, executives at the company had reason to celebrate in this week's earnings-related conference call, noting the completion of major projects in the just-passed quarter, including a second propane dehydrogenation (PDH) unit at Enterprise's complex in Mount Belvieu, Texas. In addition, the company has two natural gas-processing facilities expected to go into service later this year.
In the conference call, Enterprise Co-Chief Executive Officer Jim Teague discussed the PDH unit and other completed projects. Construction on the second PDH unit at Mont Belvieu kicked off in 2020, lasting into the second quarter of this year. Using 35,000 barrels per day (BBL/d) of propane as feedstock, the unit will effectively double Enterprise Partners' PDH capacity to 3.3 billion pounds. Teague said the unit had begun operations and was presently at 65-70% capacity, on its way to ramping up to full production. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for more details on the project.
Also completed in the just-passed quarter was the Poseidon natural gas processing plant in the Midland Basin of Texas. Teague said the plant represents the company's sixth processing plant in the basin. The facility can process up to 350 million cubic feet per day of natural gas and produce more than 40,000 BBL/d of natural gas liquids (NGLs). The facility gives Enterprise 1.3 billion cubic feet per day of processing capacity in the Midland Basin. Subscribers can click here for more information.
Enterprise also completed a twelfth NGL fractionator at Mont Belvieu, which will increase the complex's total fractionation capacity to 1.25 million BBL/d. Subscribers can click here to learn more.
With the completion of these projects, Enterprise is hardly resting on its laurels. Randy Fowler, co-chief executive officer, noted that the company has $4.1 billion of major growth projects under construction, with $1.1 billion worth of these set to begin operations before the end of this year. Fowler said the company anticipated 2023 capital expenditures to be in the range of $2.4 billion to $2.8 billion.
Projects expected to be completed later this year include the addition of a second processing train at the company's gas-processing plant in Mentone, Texas. The second train will increase the plant's processing capacity by 300 million cubic feet per day, resulting in another 30,000 BBL/d of NGLs. Subscribers can click here for more information on the project.
The company also has a few export-related projects in the works, including a hydrocarbons export terminal addition at its facility on the Houston Ship Channel. Teague said, "Our new export projects are designed with an emphasis on flexibility and reliability centered around a highly integrated footprint with multi-product capabilities." The project, which is wrapping up, entails constructing a loading dock able to accommodate Suezmax vessels with the capability of loading approximately 840,000 BBL/d, increasing the facility's overall export capacity to 2.75 million BBL/d. Subscribers to Industrial Info's Terminals Project Database can learn more by viewing the project report.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
In the conference call, Enterprise Co-Chief Executive Officer Jim Teague discussed the PDH unit and other completed projects. Construction on the second PDH unit at Mont Belvieu kicked off in 2020, lasting into the second quarter of this year. Using 35,000 barrels per day (BBL/d) of propane as feedstock, the unit will effectively double Enterprise Partners' PDH capacity to 3.3 billion pounds. Teague said the unit had begun operations and was presently at 65-70% capacity, on its way to ramping up to full production. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for more details on the project.
Also completed in the just-passed quarter was the Poseidon natural gas processing plant in the Midland Basin of Texas. Teague said the plant represents the company's sixth processing plant in the basin. The facility can process up to 350 million cubic feet per day of natural gas and produce more than 40,000 BBL/d of natural gas liquids (NGLs). The facility gives Enterprise 1.3 billion cubic feet per day of processing capacity in the Midland Basin. Subscribers can click here for more information.
Enterprise also completed a twelfth NGL fractionator at Mont Belvieu, which will increase the complex's total fractionation capacity to 1.25 million BBL/d. Subscribers can click here to learn more.
With the completion of these projects, Enterprise is hardly resting on its laurels. Randy Fowler, co-chief executive officer, noted that the company has $4.1 billion of major growth projects under construction, with $1.1 billion worth of these set to begin operations before the end of this year. Fowler said the company anticipated 2023 capital expenditures to be in the range of $2.4 billion to $2.8 billion.
Projects expected to be completed later this year include the addition of a second processing train at the company's gas-processing plant in Mentone, Texas. The second train will increase the plant's processing capacity by 300 million cubic feet per day, resulting in another 30,000 BBL/d of NGLs. Subscribers can click here for more information on the project.
The company also has a few export-related projects in the works, including a hydrocarbons export terminal addition at its facility on the Houston Ship Channel. Teague said, "Our new export projects are designed with an emphasis on flexibility and reliability centered around a highly integrated footprint with multi-product capabilities." The project, which is wrapping up, entails constructing a loading dock able to accommodate Suezmax vessels with the capability of loading approximately 840,000 BBL/d, increasing the facility's overall export capacity to 2.75 million BBL/d. Subscribers to Industrial Info's Terminals Project Database can learn more by viewing the project report.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
