Enterprise Products Partners L.P. (EPD - Free Report) operated Seaway Crude Oil Pipeline, which is run by Seaway Crude Oil Pipeline Company LLC, recently announced an open season for shipper commitments for expanded transportation capacity. The pipeline is a 50/50 joint venture between North-American Midstream giants — Enterprise Products and Enbridge Inc. (ENB - Free Report) .
The Seaway Pipeline is expected to witness an increase in transportation capacity by 100,000 barrels per day, which will be confirmed based on the outcome of the open season. The extended capacity is anticipated to come online by Feb 1. The open season is expected to close by Jan 21. The move is in sync with Enterprise Products’ strategies for growth opportunities and belongs to its “Producer driven projects” category.
The Seaway pipeline originates from Cushing, OK and ships crude oil to the Texas Gulf Coast region. Apart from that, the Seaway system comprises a terminal and distribution network, which originates in Texas City. Through the distribution network, the crude oil reaches local and Houston-area refineries. The network also connects to the dock facilities at Freeport and Texas City.
Enterprise Products has an extensive network of pipeline that is spreads across almost 50,000 miles. The pipelines carry natural gas, NGL, crude oil and refined products. Importantly, the partnership’s midstream properties are linked to all prospective shale plays in the United States that are rich in natural gas and oil. These extensive networks of natural gas pipelines enable the company to generate stable fee-based revenues.
Zacks Rank & Other Stocks to Consider
Enterprise Products carries a Zacks Rank #2 (Buy). Investors interested in the energy sector can also opt for other top-ranked stocks as given below:
Buenos Aires, Argentina-based Transportadora de Gas del Sur S.A. (TGS - Free Report) is engaged in natural gas transportation and distribution businesses. Its bottom line for 2018 is expected to grow more than 16% year over year. The company sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Findlay, OH-based MPLX LP (MPLX - Free Report) is a midstream energy infrastructure provider. Its bottom line for 2018 is expected to surge more than 130% year over year. It currently has a Zack Rank #2.
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