Processing capacity expansion
EnLink Midstream Partners (ENLK) continues to expand its processing capacity in the Delaware and STACK[1. Sooner Trend Anadarko Basin Canadian and Kingfisher Counties] regions with the announcement of new processing plants in both regions. In this part of the series, we’ll look at details of its two new projects and expected capacity in the regions following the completion of the two plants and other ongoing projects.
ENLK announced a new 200 MMcf/d (million cubic feet per day) processing plant, Lobo III, at its existing Lobo Complex in the Delaware Basin. Delaware is part of the Permian region, the most prolific in the United States.
ENLK is expecting to place the plant into service during the second half of 2018. Once complete, the total processing capacity in the Delaware Basin could increase to 385 MMcf/d. ENLK had 16 drilling rigs active on its Delaware acreage in October 2017, which is an increase of 14 rigs over the past year.
ENLK announced the second processing plant in the STACK play, which is part of the Central Oklahoma region. STACK is also currently among the most prolific regions of the United States. ENLK announced a new 200 MMcf/d processing capacity, Thunderbird, in the region. ENLK expects its processing capacity in the region to increase to 1.2 bcf/d (billion cubic feet per day) following the placement of the Thunderbird project and other ongoing projects by the end of the first quarter of 2019.
In the next part, we’ll look at analysts’ ratings for EnLink Midstream Partners and its GP (general partner) EnLink Midstream LLC (ENLC).