Enable Midstream Partners LP on Wednesday announced a new Anadarko Basin rich gas takeaway project called Project Wildcat.
The company has struck an agreement to deliver about 400 MMcf/d of rich natural gas from the Anadarko Basin to North Texas, providing new market outlets for growing production, it said.
“Project Wildcat will provide an integrated gathering and processing solution with access to the Texas intrastate natural gas markets, including the Tolar Hub, by Enable contracting with an affiliate of Energy Transfer Partners LP for 400 MMcf/d of firm processing capacity at the Godley Plant in Johnson County, TX,” the company said.
Project Wildcat is expected to be in service by the end of the second quarter of 2018.
The company also reported quarterly results Wednesday. Gathered volumes in the Anadarko and Ark-La-Tex basins grew for the fifth consecutive quarter as a result of continued rig activity. In the Anadarko, there were 22 active rigs contractually dedicated to Enable as of April 18. In the Ark-La-Tex, there were nine active rigs contractually dedicated to Enable as of April 18. One rig was actively drilling wells on Enable’s Williston Basin footprint.
Natural gas gathered volumes were 3.29 trillion Btu/d for the first quarter, an increase of 8% compared with 3.05 trillion Btu/d for first quarter 2016. Natural gas processed volumes were 1.87 trillion Btu/d for first quarter, an increase of 5% compared to 1.78 trillion Btu/d for first quarter of 2016.
Natural gas liquids (NGL) production was 79,760 b/d for first quarter, an increase of 9% compared with 73,470 b/d for first quarter 2016. Crude oil gathered volumes were 21,180 b/d for first quarter, a decrease of 27% compared to 28,850 b/d for first quarter 2016.
Interstate transportation firm contracted capacity was 7.23 Bcf/d for the first quarter, an increase of 1% from first quarter capacity of 7.17 Bcf/d. Intrastate transportation average deliveries were 1.84 trillion Btu/d for the first quarter, an increase of 10% from 1.68 trillion Btu/d for first quarter 2016.
Net income attributable to limited partners was $120 million for first quarter, an increase of $34 million, or 40%, compared with $86 million for first quarter 2016. Net income attributable to common and subordinated units was $111 million for first quarter, an increase of $25 million, or 29%, from $86 million for the year-ago quarter. The increases were primarily related to higher gross margin, partially offset by higher interest expense and higher depreciation and amortization expense.
Net cash provided by operating activities was $156 million for first quarter, an increase of $39 million from $117 million for first quarter 2016. Distributable cash flow for first quarter was $171 million, a decrease of $3 million, or 2%, compared to $174 million for first quarter 2016.