The WPC Joint Enterprise, which owns the intra-state Whistler Pipeline, has partnered with an affiliate of Targa Assets Corp. to achieve a ultimate funding determination (FID) on the development of the Blackcomb Pipeline in Texas.
The FID was made after the securing of ample agency transportation agreements with predominantly funding grade shippers, together with, however not restricted to, Devon Power, Corp., Diamondback Power, Inc., Marathon Petroleum Corp., and Targa. The WPC three way partnership is owned by WhiteWater (50.6 p.c), MPLX LP (30.4 p.c), and Enbridge Inc. (19.0 p.c).
In keeping with a information launch from Austin, Texas-based infrastructure firm WhiteWater, the Blackcomb Pipeline is designed to move as much as 2.5 billion cubic toes per day (Bcfpd) of pure gasoline by means of roughly 365 miles of 42-inch pipeline from the Permian Basin in West Texas to the Agua Dulce space in South Texas.
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Provide for the Blackcomb Pipeline shall be sourced from a number of upstream connections within the Permian Basin, together with gasoline processing amenities within the Midland Basin and the Agua Blanca Pipeline within the Delaware Basin, a three way partnership between WhiteWater and MPLX.
The Blackcomb Pipeline shall be constructed and operated by WhiteWater and is predicted to be in service within the second half of 2026, pending the receipt of customary regulatory and different approvals, the corporate stated.
The Blackcomb Pipeline is a three way partnership owned 70.0 p.c by WPC, 17.5 p.c by Targa, and 12.5 p.c by MPLX, which is incremental to MPLX’s possession curiosity in WPC, in keeping with the discharge.
“We’re excited to companion with Targa by leveraging Whistler’s expansive footprint in Waha and Agua Dulce to develop the Blackcomb Pipeline. Blackcomb will present a lot wanted incremental pure gasoline takeaway capability for Permian shippers,” WhiteWater CEO Christer Rundlof stated.
WPC owns long-haul pure gasoline pipelines and storage belongings that transport pure gasoline from the Permian Basin to South Texas with direct connections to liquefied pure gasoline (LNG) export markets. The WPC three way partnership owns the Whistler Pipeline, the Rio Bravo Pipeline, 70 p.c of the ADCC Pipeline, and 50 p.c of the Waha Gasoline Storage facility. WhiteWater’s stake in WPC is owned by I Squared Capital.
WhiteWater is an Austin, Texas-based infrastructure firm, and operator of the Whistler Pipeline. WhiteWater is partnered with a number of non-public fairness funds together with however not restricted to I Squared Capital.
MPLX is a diversified, large-cap grasp restricted partnership that owns and operates midstream power infrastructure and logistics belongings and offers fuels distribution providers. MPLX’s belongings embody a community of crude oil and refined product pipelines; an inland marine enterprise; light-product terminals; storage caverns; refinery tanks, docks, loading racks, and related piping; and crude and light-product marine terminals. MPLX additionally owns crude oil and pure gasoline gathering methods and pipelines in addition to pure gasoline and NGL processing and fractionation amenities in key U.S. provide basins.
Targa Assets Corp. describes itself as a number one supplier of midstream providers and is without doubt one of the largest unbiased midstream infrastructure firms in North America. Targa owns, operates, acquires and develops a diversified portfolio of complementary home midstream infrastructure belongings.
To contact the creator, e mail rocky.teodoro@rigzone.com
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