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Exxon to support Permian Highway pipeline project

Published 08/09/2018, 05:58 PM
© Reuters.  Exxon to support Permian Highway pipeline project
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  • Exxon Mobil (NYSE:XOM) signs a letter of intent to be a shipper on the proposed Permian Highway pipeline project, as subsidiary XTO Energy may contract for as much as 450K dth/day of capacity on the pipeline.
  • The ~$2B, 430-mile Permian Highway project would provide an outlet for natural gas production from the Permian Basin to the Texas Gulf coast and is designed to transport as much as 2B cf/day of natural gas.
  • Kinder Morgan (NYSE:KMI) and EagleClaw Midstream Ventures will be the project's initial partners, each with a 50% stake; Apache (NYSE:APA) and EagleClaw will be significant shippers, with each planning to commit up to 500K dth/day to the project, and APA will have the option to acquire equity from the initial partners.
  • Now read: Kinder Morgan Got The Cash As Shareholders Expected


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