EnLink partnership announces two new growth projects

EnLink Midstream Partners (NYSE:ENLK) and EnLink Midstream (NYSE:ENLC) announce plans to expand their natural gas gathering and processing system in the Permian Basin by constructing a new natural gas processing plant and expanding its rich gas gathering system.

EnLink expects the expansion project to cost at least $200M, increasing its total invested capital in the Permian to more than $400M.

The partnership also plans to create a joint venture with a Marathon Petroleum (NYSE:MPC) subsidiary to build a new 30-mile natural gas liquids pipeline connecting the existing Riverside fractionation and terminal complex to MPC’s Garyville refinery located on the Mississippi River.

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