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Released February 06, 2024 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--If its fourth-quarter earnings and operational results are any sort of a benchmark, U.S. pipeline operator Enterprise Products Partners LP (NYSE:EPD) (Houston, Texas) by all accounts had a good quarter. Both the company's pipeline throughput volumes and earnings bottom line showed strong growth from the prior year, and Enterprise seems to be maintaining this trajectory with a number of projects both presently under construction or planned for the future.
Enterprise reported its fourth-quarter 2023 pipeline volumes were 7.8 million barrels per day (BBL/d) for crude oil, natural gas liquids (NGLs), refined products and petrochemicals, including a whopping 15% gain in crude oil volumes from the prior year to 2.6 million BBL/d. Coupled with these increased product volumes was growth in net income, which rose from $1.45 billion in the last three months of 2022 to $1.6 billion in the most recently passed quarter. The company's natural gas pipeline volumes were up more than 1 trillion British thermal units (BTUs), at 18.7 trillion BTUs, and its NGL fractionation volumes grew from 1.3 million BBL/d to 1.6 million BBL/d year over year.
Enterprise seems intent on growing these numbers even more with the addition of several new processing and production units across its system. For example, the company presently is constructing two natural gas processing facilities in Midland County, Texas. Among these is a seventh processing plant at its Leonides plant. Engineering, procurement and construction company Optimized Process Designs LLC (Katy, Texas) began construction last summer and is expected to be completed in the coming months. The cryogenic gas-processing plant will increase the complex's capacity by 350 million cubic feet per day.
Also in Midland County, Enterprise began work on an eighth processing plant at its Orion complex a few months after work at the Leonides plant started. This plant will be able to process up to 325 million cubic feet per day of natural gas and is expected to be completed toward the end of this summer.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can learn more by viewing the project reports for the Leonides and Orion plants.
Optimized Process Designs also is at work on a third NGL-fractionation train for Enterprise at the company's Mentone complex in Loving County, Texas. This third train will provide another 300,000 cubic feet per day of processing capacity and another 30,000 BBL/d of NGL recovery on top of the existing 60,000 BBL/d of NGL recovery. This Delaware Basin project is expected to wrap up in the near future. Subscribers can click here to learn more about the project.
While Enterprise has facilities scattered throughout the Permian Basin of West Texas, its largest facility is in Mount Belvieu, Texas, near the Gulf Coast about 30 miles east of Houston, where what could be one of Enterprise's largest projects this year is set to kick off soon. Enterprise is adding a 200,000-BBL/d fractionation train to the complex, the fourteenth at the facility, which has a current NGL fractionation capacity of 1.37 million BBL/d. Construction of the unit is expected to be completed in the summer of 2025. Subscribers can learn more by viewing the related project report.
Even larger projects are afoot, although the start dates remain somewhat hazy. The company has hinted at entering the ethylene-production sector, going so far as to apply for a tax break for property along the Neches River in Beaumont, Texas, for the site of a potential facility while evaluating other potential sites. The project, if it sees the light of the day, remains some years out but could add up to 4.4 billion pounds per year of ethylene production capacity to the Texas Gulf Coast region. Subscribers to Industrial Info's Chemical Processing Project Database can click here for more information.
Another of the company's more substantial investments may be closer to seeing the light of day. Last month, an Enterprise executive said the company expected to receive an export license for its planned Sea Port Oil Terminal (SPOT) in the first quarter of 2024. The SPOT project includes a deepwater port marine terminal in the Gulf of Mexico near Freeport, Texas, that will connect to onshore crude storage facilities and have capacity to load very large crude carriers and other vessels at rates of up to 85,000 barrels per hour. The terminal will be situated about 27 or 30 nautical miles off the coast in water depth of approximately 115 feet. Should the export license be granted as expected, work on the project could kick off later this year, taking an estimated three years to complete. Subscribers to Industrial Info's Terminals Project Database can learn more by viewing the project report.
Subscribers to Industrial Info's GMI Database can click here to view reports for all of the projects discussed in this article and click here to view the related plant profiles.
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).
Enterprise reported its fourth-quarter 2023 pipeline volumes were 7.8 million barrels per day (BBL/d) for crude oil, natural gas liquids (NGLs), refined products and petrochemicals, including a whopping 15% gain in crude oil volumes from the prior year to 2.6 million BBL/d. Coupled with these increased product volumes was growth in net income, which rose from $1.45 billion in the last three months of 2022 to $1.6 billion in the most recently passed quarter. The company's natural gas pipeline volumes were up more than 1 trillion British thermal units (BTUs), at 18.7 trillion BTUs, and its NGL fractionation volumes grew from 1.3 million BBL/d to 1.6 million BBL/d year over year.
Enterprise seems intent on growing these numbers even more with the addition of several new processing and production units across its system. For example, the company presently is constructing two natural gas processing facilities in Midland County, Texas. Among these is a seventh processing plant at its Leonides plant. Engineering, procurement and construction company Optimized Process Designs LLC (Katy, Texas) began construction last summer and is expected to be completed in the coming months. The cryogenic gas-processing plant will increase the complex's capacity by 350 million cubic feet per day.
Also in Midland County, Enterprise began work on an eighth processing plant at its Orion complex a few months after work at the Leonides plant started. This plant will be able to process up to 325 million cubic feet per day of natural gas and is expected to be completed toward the end of this summer.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can learn more by viewing the project reports for the Leonides and Orion plants.
Optimized Process Designs also is at work on a third NGL-fractionation train for Enterprise at the company's Mentone complex in Loving County, Texas. This third train will provide another 300,000 cubic feet per day of processing capacity and another 30,000 BBL/d of NGL recovery on top of the existing 60,000 BBL/d of NGL recovery. This Delaware Basin project is expected to wrap up in the near future. Subscribers can click here to learn more about the project.
While Enterprise has facilities scattered throughout the Permian Basin of West Texas, its largest facility is in Mount Belvieu, Texas, near the Gulf Coast about 30 miles east of Houston, where what could be one of Enterprise's largest projects this year is set to kick off soon. Enterprise is adding a 200,000-BBL/d fractionation train to the complex, the fourteenth at the facility, which has a current NGL fractionation capacity of 1.37 million BBL/d. Construction of the unit is expected to be completed in the summer of 2025. Subscribers can learn more by viewing the related project report.
Even larger projects are afoot, although the start dates remain somewhat hazy. The company has hinted at entering the ethylene-production sector, going so far as to apply for a tax break for property along the Neches River in Beaumont, Texas, for the site of a potential facility while evaluating other potential sites. The project, if it sees the light of the day, remains some years out but could add up to 4.4 billion pounds per year of ethylene production capacity to the Texas Gulf Coast region. Subscribers to Industrial Info's Chemical Processing Project Database can click here for more information.
Another of the company's more substantial investments may be closer to seeing the light of day. Last month, an Enterprise executive said the company expected to receive an export license for its planned Sea Port Oil Terminal (SPOT) in the first quarter of 2024. The SPOT project includes a deepwater port marine terminal in the Gulf of Mexico near Freeport, Texas, that will connect to onshore crude storage facilities and have capacity to load very large crude carriers and other vessels at rates of up to 85,000 barrels per hour. The terminal will be situated about 27 or 30 nautical miles off the coast in water depth of approximately 115 feet. Should the export license be granted as expected, work on the project could kick off later this year, taking an estimated three years to complete. Subscribers to Industrial Info's Terminals Project Database can learn more by viewing the project report.
Subscribers to Industrial Info's GMI Database can click here to view reports for all of the projects discussed in this article and click here to view the related plant profiles.
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).
