On Monday, Enterprise Products Partners LP revealed its plan to expand its Midland-to-ECHO 3 and 4 Permian crude pipeline system by 450,000 bpd each.
Pipeline number 3, which transports crude from Midland, Texas, to Enterprise’s ECHO terminal in Houston, is planned to finish the expansion in the third quarter of next year.
Although oil production in the Permian Basin has been slowing as drillers reduce oil rigs count to focus more on earnings growth, Jim Teague, CEO of Enterprise’s general partner, believes that his clients are not planning to slow down.
