OKLAHOMA CITY--(EON: Enhanced Online News)--Enable Midstream Partners, LP (NYSE: ENBL) (Enable) today announced that its wholly-owned subsidiary, Enable Gas Transmission, LLC (EGT), has entered into a 205,000 Dth/d firm natural gas transportation agreement with Newfield Exploration Company (NYSE: NFX) (Newfield), a top producer in the growing SCOOP and STACK plays. The 10-year contract is associated with EGT’s recently announced Cana and STACK Expansion (CaSE) project and is expected to start at an initial capacity of 45,000 Dth/d in early 2018, growing to the full 205,000 Dth/d of contracted capacity by the fourth quarter of 2018.
“We are pleased to provide Newfield with a timely, cost-effective and flexible natural gas transportation solution out of the Anadarko Basin with access to premium markets”
“We are pleased to provide Newfield with a timely, cost-effective and flexible natural gas transportation solution out of the Anadarko Basin with access to premium markets,” said Rod Sailor, Enable’s President and CEO. “This project capitalizes on Enable’s substantial transportation footprint in the basin while adding significant firm, fee-based revenues.”
Open seasons for the CaSE project and the Kingfisher Extension project on the Enable Oklahoma Intrastate Transmission, LLC (EOIT) system closed on March 28. Enable is currently evaluating the bids received to determine customer demand for additional capacity.
ABOUT ENABLE MIDSTREAM PARTNERS
Enable owns, operates and develops strategically located natural gas and crude oil infrastructure assets. Enable’s assets include approximately 12,900 miles of gathering pipelines, 14 major processing plants with approximately 2.5 Bcf/d of processing capacity, approximately 7,800 miles of interstate pipelines (including Southeast Supply Header, LLC of which Enable owns 50 percent), approximately 2,200 miles of intrastate pipelines and eight storage facilities comprising 85.0 billion cubic feet of storage capacity. For more information, visit http://www.enablemidstream.com.
This press release may contain “forward-looking statements” within the meaning of the securities laws. All statements, other than statements of historical fact, regarding Enable’s strategy, future operations, financial position, estimated revenues, projected costs, prospects, plans and objectives of management, including statements regarding the benefits of contractual arrangements and expansion capital spending, are forward-looking statements. These statements often include the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “forecast” and similar expressions and are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on Enable’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Enable assumes no obligation to and does not intend to update any forward-looking statements included herein. When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements described under the heading “Risk Factors” included in our SEC filings. Enable cautions you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond its control, incident to the ownership, operation and development of natural gas and crude oil infrastructure assets. These risks include, but are not limited to, contract renewal risk, commodity price risk, environmental risks, operating risks, regulatory changes and the other risks described under “Risk Factors” in our SEC filings. Should one or more of these risks or uncertainties occur, or should underlying assumptions prove incorrect, Enable’s actual results and plans could differ materially from those expressed in any forward-looking statements.