US Enterprise profits from record volumes as NGL prices weaken

01 August 2013 22:43  [Source: ICIS news]

HOUSTON (ICIS)--US midstream services company Enterprise Products Partners benefitted from record natural gas liquids (NGL) and crude oil volumes in the second quarter of 2013 that offset lower prices for NGLs, the company said on Thursday.

The volume increases were driven by growing production in the Eagle Ford shale in south Texas, higher crude oil volumes flowing on the Seaway pipeline and increased propane exports from the company’s recently renovated liquified petroleum gas (LPG) export facility on the Houston Ship Channel.

Enterprise transported a company record 4.9m bbl/day of products in the second quarter 2013 through NGL, crude oil, refined products and petrochemical pipelines.

Crude was transported at a record of 1.5m bbl/day. NGL pipelines accounted for 2.7m bbl/day of product.

Enterprise reported net income of $552.5m in the second quarter of 2013, a slight dip from the same quarter a year ago. However, operating margins and revenues were up.

By: Bobbie Clark
+1 713 525 2653

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