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MarkWest Energy to launch $1B Utica Shale gas gathering project

Aug. 13, 2015 2:41 PM ETMarkWest Energy Partners, L.P. (MWE) StockBy: Carl Surran, SA News Editor4 Comments
  • MarkWest Energy Partners (NYSE:MWE -0.2%) says it is teaming up with The Energy & Materials Group to build a ~$1B gas pipeline gathering system in the Utica Shale in Ohio.
  • MWE, which is being bought by Marathon Petroleum’s (MPC -1.2%) MPLX (MPLX -1.5%) MLP for $14.7B, is leading the project through a long-term contract with the newly formed Ascent Resources, a new stand-alone company that was part of Aubrey McClendon’s American Energy Partners.
  • The companies say the new system is expected to gather more than 2B cf/day of gas from the Utica and ultimately could consist of more than 250 miles of pipeline and more than 200K hp of compression; initial operation is expected to begin by the end of 2015.

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