PennTex Midstream Partners, LP Announces the Completion of the Mt. Olive Gas Processing Plant in the Terryville Complex
HOUSTON, Sept. 14, 2015 (GLOBE NEWSWIRE) -- PennTex Midstream Partners, LP (NASDAQ:PTXP) (the "Partnership") announced today that its Mt. Olive gas processing plant and related residue gas and natural gas liquids (NGL) pipelines have been completed and placed in-service, increasing the Partnership's natural gas processing capacity to 400 million cubic feet per day ("MMcf/d") in the Terryville Complex in northern Louisiana.
Located near Ruston, LA, the Mt. Olive facility consists of a 200 MMcf/d design-capacity cryogenic natural gas processing plant with on-site liquids handling facilities for inlet gas as well as additional residue gas and NGL pipelines. The 14-mile residue gas pipeline has throughput capacity of approximately 400 MMcf/d and provides market access for residue natural gas from the Partnership's processing plants. The 41-mile NGL pipeline has throughput capacity of more than 36,000 barrels per day and provides transportation to downstream markets for NGLs produced from the Partnership's processing plants.
"Today marks yet another significant achievement for the PennTex operations team with the completion of our second plant – proving to both our customers and our unitholders that PennTex will deliver midstream projects on time and on budget," said Rob Bond, President and Chief Operating Officer. "The addition of the Mt. Olive plant positions us for continued growth across the Terryville Complex."
To date, the project has generated 22 full time jobs, approximately 600 construction jobs and engaged approximately 20 local firms.
"Working with our partner companies and the local, state and federal agencies, PennTex has been able to successfully design, build and commission these facilities in an extremely safe and efficient manner to meet the processing requirements of our customers," said Tommy Stone, Senior Vice President and Chief Operations and Engineering Officer.
This marks the completion of the second phase of the Partnership's Terryville Complex assets. The first phase of development, which was completed in May 2015, included the Lincoln Parish plant, a 200 MMcf/d design-capacity cryogenic natural gas processing plant, and 31 miles of related natural gas gathering and residue gas transportation pipelines. The Partnership provides gathering, processing and transportation services for customers in the Terryville Complex under long-term, fee-based agreements.
About PennTex Midstream Partners, LP
PennTex Midstream Partners, LP is a growth-oriented master limited partnership focused on owning, operating, acquiring and developing midstream energy infrastructure assets in North America. PTXP provides natural gas gathering and processing and residue gas and natural gas liquids transportation services to producers in the Terryville Complex in northern Louisiana. For more information, visit www.penntex.com.
CONTACT: For further information, please direct all inquiries to:
Investor Relations: Andrejka Bernatova
Vice President, Finance and Investor Relations
Telephone: (832) 456-4000
Media: Chris Staffel
Vice President, Administration
Telephone: (832) 456-4005
(September 14, 2015 - 6:30 AM EDT)
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