Enterprise has announced that its sixth natural gas processing plant, Poseidon, in Texas, US, has commenced operations.
The new plant has a nameplate capacity of 300 million ft3/d and can extract more than 40 000 bpd of natural gas liquids (NGLs). With the addition of Poseidon, Enterprise now has the capability to process 1.3 billion ft3/d of natural gas and extract more than 185 000 bpd of NGLs in the Midland Basin. The plant is supported by long-term acreage dedication agreements.
A.J. ‘Jim’ Teague, co-CEO of Enterprise’s general partner, said: “This new processing plant, which was completed on time and on budget, represents a strategic addition to our Permian Basin assets. For the foreseeable future, the Permian Basin is expected to drive domestic production of crude oil, natural gas and NGLs, and the expansion of our midstream network will support producers as they meet growing demand in the US and internationally. The Poseidon gas plant is among US$3.8 billion of major growth projects expected to begin service and generate new sources of cash flow by the end of 2023.”
Additionally, Enterprise’s Leonidas cryogenic natural gas processing plant in the Midland Basin, also supported by long-term acreage dedication agreements, is currently under construction in Texas and is scheduled to begin service in the 1H24. The new plant, which will be the company’s seventh in the Midland Basin, will add another 300 million ft3/d of processing capacity and more than 40 000 bpd of NGL extraction capacity. Plants six and seven represent an expansion of the assets Enterprise purchased as part of the company’s acquisition of Navitas Midstream Partners, LLC in February of 2022.