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Enterprise Products Partners L.P. (EPD - Free Report) has signed a natural gas liquids (NGL) transportation deal with Apache Corporation (APA - Free Report) .
Per the accord, the Shin Oak pipeline of Enterprise Products will likely be utilized by Apache for carrying NGL from the Alpine High project to the storage facility of the partnership in Mont Belvieu, TX.
In the Delaware Basin’s Alpine High discovery, Apache’s presence spreads over 336,000 net acres. The company is willing to transport all produced NGL from the resources through the Shin Oak pipeline. The partnership has committed to transport at least 205,000 barrels of NGL daily through the pipeline.
Investors should know that the Shin Oak pipeline, which is being manufactured by Enterprise Products, will spread over roughly 658 miles to the NGL fractionation and storage unit in Mont Belvieu, TX, from Reeves County.
The construction of the Shin Oak pipeline will likely close by the second quarter of 2019. Enterprise Products projects the initial daily liquid transportation capacity of the pipeline at 550,000 barrels.
The latest transportation commitment will likely provide Enterprise Products with steady fee-based revenues. Apache will also gain as the pipeline will help the company to persistently transport its growing production from the prospective Alpine High prospect.
Headquartered in Houston, TX, Enterprise Products has extensive midstream assets, providing services to the upstream energy players. Over the past year, the partnership gained 3.4%, outperforming the industry’s14.6% decline.
Apache, based in Houston, TX, is a leading oil and natural gas explorer with resources spread across the United States, the United Kingdom and Egypt. However, the stock has lost 13.5% over the past year, underperforming the industry’s 9.2% gain.
BP managed to beat the Zacks Consensus Estimate in three of the last four quarters.
Occidental Petroleum is expected to record earnings growth of 333.7% in 2018.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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Enterprise Products, Apache Sign NGL Transportation Accord
Enterprise Products Partners L.P. (EPD - Free Report) has signed a natural gas liquids (NGL) transportation deal with Apache Corporation (APA - Free Report) .
Per the accord, the Shin Oak pipeline of Enterprise Products will likely be utilized by Apache for carrying NGL from the Alpine High project to the storage facility of the partnership in Mont Belvieu, TX.
In the Delaware Basin’s Alpine High discovery, Apache’s presence spreads over 336,000 net acres. The company is willing to transport all produced NGL from the resources through the Shin Oak pipeline. The partnership has committed to transport at least 205,000 barrels of NGL daily through the pipeline.
Investors should know that the Shin Oak pipeline, which is being manufactured by Enterprise Products, will spread over roughly 658 miles to the NGL fractionation and storage unit in Mont Belvieu, TX, from Reeves County.
The construction of the Shin Oak pipeline will likely close by the second quarter of 2019. Enterprise Products projects the initial daily liquid transportation capacity of the pipeline at 550,000 barrels.
The latest transportation commitment will likely provide Enterprise Products with steady fee-based revenues. Apache will also gain as the pipeline will help the company to persistently transport its growing production from the prospective Alpine High prospect.
Headquartered in Houston, TX, Enterprise Products has extensive midstream assets, providing services to the upstream energy players. Over the past year, the partnership gained 3.4%, outperforming the industry’s14.6% decline.
Apache, based in Houston, TX, is a leading oil and natural gas explorer with resources spread across the United States, the United Kingdom and Egypt. However, the stock has lost 13.5% over the past year, underperforming the industry’s 9.2% gain.
Currently, both the stocks carry a Zacks Rank #3 (Hold). Some better-ranked players in the energy sector are BP plc (BP - Free Report) and Occidental Petroleum Corporation (OXY - Free Report) . Both the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
BP managed to beat the Zacks Consensus Estimate in three of the last four quarters.
Occidental Petroleum is expected to record earnings growth of 333.7% in 2018.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>