MarkWest Liberty Midstream & Resources, a partnership between MarkWest Energy Partners (NYSE: MWE) and The Energy & Minerals Group, has executed a long-term agreement with Statoil (NYSE: STO) to provide additional natural gas midstream services for Statoil’s rich-gas Marcellus acreage in northern West Virginia.
MarkWest Liberty will provide the midstream services at its Majorsville, West Virginia processing complex, which is operating near capacity. MarkWest Liberty is nearing completion of an expansion of its cryogenic processing capacity at Majorsville, and is evaluating additional processing expansions to serve increasing production of liquids-rich natural gas in northern West Virginia. The natural gas liquids (NGLs) recovered at Majorsville are transported via pipeline to MarkWest Liberty’s fractionation, storage, and marketing complex in Houston, Pennsylvania.
"We are excited to expand our existing relationship with Statoil," said Frank Semple, chairman, president and chief executive officer of MarkWest. "MarkWest Liberty provides integrated NGL transportation, fractionation, storage, and marketing services that are critical to optimizing rich-gas development in the northeast United States and we are pleased to further strengthen our midstream presence in the liquids-rich areas of the Marcellus."
Recommended Reading
Petrie Partners: A Small Wonder
2024-02-01 - Petrie Partners may not be the biggest or flashiest investment bank on the block, but after over two decades, its executives have been around the block more than most.
CEO: Coterra ‘Deeply Curious’ on M&A Amid E&P Consolidation Wave
2024-02-26 - Coterra Energy has yet to get in on the large-scale M&A wave sweeping across the Lower 48—but CEO Tom Jorden said Coterra is keeping an eye on acquisition opportunities.
CEO: Magnolia Hunting Giddings Bolt-ons that ‘Pack a Punch’ in ‘24
2024-02-16 - Magnolia Oil & Gas plans to boost production volumes in the single digits this year, with the majority of the growth coming from the Giddings Field.
Endeavor Integration Brings Capital Efficiency, Durability to Diamondback
2024-02-22 - The combined Diamondback-Endeavor deal is expected to realize $3 billion in synergies and have 12 years of sub-$40/bbl breakeven inventory.
Exxon, Chevron Tapping Permian for Output Growth in ‘24
2024-02-02 - Exxon Mobil and Chevron plan to tap West Texas and New Mexico for oil and gas production growth in 2024, the U.S. majors reported in their latest earnings.