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Released August 02, 2018 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Midstream operator Enterprise Products Partners LP (NYSE:EPD) (Houston, Texas) reported second-quarter 2018 net income of $687 million, compared with $666 million in second-quarter 2017. The company says capital investments in the second quarter were $983 million and that full-year capital expenditures were expected to be between $3.8 billion and $4 billion. Industrial Info is tracking more than $7.3 billion in Enterprise Products projects.
In a conference call regarding the quarter, Chief Executive Officer Jim Teague gave an update on some of the company's growth projects. Teague said, "The second quarter included a string of project announcements, as there continues to be no shortage of opportunities for Enterprise. In the gathering and processing area, we announced that our first plant at Orla [Texas] began operations, and construction of two more plants are underway at Orla." Construction on the first natural gas processing train at Orla began in the first half of last year, with Optimized Process Designs LLC (Katy, Texas) providing engineering, procurement and construction. Construction of the two additional trains began shortly after completion of the first and will allow the plant to process 660 million cubic feet per day of natural gas and 80,000 barrels per day (BBL/d) of natural gas liquids (NGLs). For more information, see Industrial Info's project reports on Train 1, Train 2 and Train 3 at Orla.
Teague said, "We announced a strategic deal for all of the NGLs from Apache's (NYSE:APA) (Houston) Alpine High discovery in the Permian. Production from this basin will support our Shin Oak NGL Pipeline and our assets at Mont Belvieu [Texas]." Enterprise's Shin Oak Pipeline will carry NGLs 658 miles from the company's Hobbs fractionator in Seminole, Texas, to its fractionation complex in Mont Belvieu. The pipeline will carry 550,000 BBL/d and is expandable to 600,000 BBL/d. Construction began this summer and is expected to be completed in the first half of 2019. The project has an estimated total investment value (TIV) of $1 billion. For more information, see Industrial Info's project report.
At its Mont Belvieu complex, Enterprise plans to begin construction of a tenth fractionation train this year, for completion in early 2019. The train will increase the facility's total fractionation capacity to 800,000 BBL/d. S&B Engineers and Constructors Limited (Houston) is providing EPC on the project, which has an estimated TIV of $500 million. For more information, see Industrial Info's project report.
Other projects mentioned by Teague included the company's ethylene export terminal, which will be in La Porte, Texas. The project is a 50:50 joint venture with Navigator Holdings plc (NYSE:NVGS) (London, England). Black & Veatch Incorporated (Overland Park, Kansas) is providing engineering and procurement, while PCL Industrial Construction Company (Katy) is providing construction services on the project, which will have a loading rate of approximately 2.2 million pounds per hour and refrigerated storage capacity of 30,000 tons. Construction is expected to be completed in the first half of next year. For more information, see Industrial Info's project report.
Teague concluded by discussing one of the company's largest planned projects, which involves the export of crude oil. He said, "The final thing I want to touch on is oil exports, where the trend has been to break new records almost monthly, with the biggest advances led by crude. In that regard, we recently announced that we are developing an offshore crude oil export terminal off the Texas Gulf Coast. ... What makes this project a natural for Enterprise is the fact that our Houston-area systems can aggregate over 4 million BBL/d of crude oil." The terminal will be located approximately 80 miles from the Houston Ship Channel entryway and will be able to load Very Large Crude Carriers, which have a capacity of 2 million barrels. Construction on the terminal could begin by the end of this year and be completed in 2020. For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
In a conference call regarding the quarter, Chief Executive Officer Jim Teague gave an update on some of the company's growth projects. Teague said, "The second quarter included a string of project announcements, as there continues to be no shortage of opportunities for Enterprise. In the gathering and processing area, we announced that our first plant at Orla [Texas] began operations, and construction of two more plants are underway at Orla." Construction on the first natural gas processing train at Orla began in the first half of last year, with Optimized Process Designs LLC (Katy, Texas) providing engineering, procurement and construction. Construction of the two additional trains began shortly after completion of the first and will allow the plant to process 660 million cubic feet per day of natural gas and 80,000 barrels per day (BBL/d) of natural gas liquids (NGLs). For more information, see Industrial Info's project reports on Train 1, Train 2 and Train 3 at Orla.
Teague said, "We announced a strategic deal for all of the NGLs from Apache's (NYSE:APA) (Houston) Alpine High discovery in the Permian. Production from this basin will support our Shin Oak NGL Pipeline and our assets at Mont Belvieu [Texas]." Enterprise's Shin Oak Pipeline will carry NGLs 658 miles from the company's Hobbs fractionator in Seminole, Texas, to its fractionation complex in Mont Belvieu. The pipeline will carry 550,000 BBL/d and is expandable to 600,000 BBL/d. Construction began this summer and is expected to be completed in the first half of 2019. The project has an estimated total investment value (TIV) of $1 billion. For more information, see Industrial Info's project report.
At its Mont Belvieu complex, Enterprise plans to begin construction of a tenth fractionation train this year, for completion in early 2019. The train will increase the facility's total fractionation capacity to 800,000 BBL/d. S&B Engineers and Constructors Limited (Houston) is providing EPC on the project, which has an estimated TIV of $500 million. For more information, see Industrial Info's project report.
Other projects mentioned by Teague included the company's ethylene export terminal, which will be in La Porte, Texas. The project is a 50:50 joint venture with Navigator Holdings plc (NYSE:NVGS) (London, England). Black & Veatch Incorporated (Overland Park, Kansas) is providing engineering and procurement, while PCL Industrial Construction Company (Katy) is providing construction services on the project, which will have a loading rate of approximately 2.2 million pounds per hour and refrigerated storage capacity of 30,000 tons. Construction is expected to be completed in the first half of next year. For more information, see Industrial Info's project report.
Teague concluded by discussing one of the company's largest planned projects, which involves the export of crude oil. He said, "The final thing I want to touch on is oil exports, where the trend has been to break new records almost monthly, with the biggest advances led by crude. In that regard, we recently announced that we are developing an offshore crude oil export terminal off the Texas Gulf Coast. ... What makes this project a natural for Enterprise is the fact that our Houston-area systems can aggregate over 4 million BBL/d of crude oil." The terminal will be located approximately 80 miles from the Houston Ship Channel entryway and will be able to load Very Large Crude Carriers, which have a capacity of 2 million barrels. Construction on the terminal could begin by the end of this year and be completed in 2020. For more information, see Industrial Info's project report.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
