MarkWest Energy Partners, L.P. (MWE) (“MarkWest”) announced today the completion of long-term, fee-based agreements to support producer development in the Delaware Basin of West Texas. Under terms of the agreements, MarkWest will install a 200 million cubic feet per day cryogenic gas processing plant (Hidalgo Complex) in Culberson County, Texas. The new facility is scheduled to commence operations during the second quarter of 2016.
“We are very excited to announce this strategic commercial relationship with Cimarex and Chevron to support their development of the highly prospective Delaware Basin,” commented Frank Semple, Chairman, President, and Chief Executive Officer of MarkWest. “MarkWest has provided midstream services for Chevron in east Texas for more than a decade and we are privileged to have the opportunity to serve them, as well as our new customer and operator of the joint development, Cimarex Energy.”
MarkWest Energy Partners, L.P. is a master limited partnership that owns and operates midstream service businesses. We have a leading presence in many natural gas resource plays including the Marcellus Shale, Utica Shale, Huron/Berea Shale, Haynesville Shale, Woodford Shale and Granite Wash formation.
This press release includes “forward-looking statements.” All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements. Actual results could vary significantly from those expressed or implied in such statements and are subject to a number of risks and uncertainties. Although MarkWest believes that the expectations reflected in the forward-looking statements are reasonable, MarkWest can give no assurance that such expectations will prove to be correct. The forward-looking statements involve risks and uncertainties that affect operations, financial performance, and other factors as discussed in filings with the Securities and Exchange Commission (SEC). Among the factors that could cause results to differ materially are those risks discussed in the periodic reports filed with the SEC, including MarkWest’s Annual Report on Form 10-K for the year ended December 31, 2014. You are urged to carefully review and consider the cautionary statements and other disclosures made in those filings, specifically those under the heading “Risk Factors.” MarkWest does not undertake any duty to update any forward-looking statement except as required by law.
