WhiteWater and partners approve FID for Solitude Pipeline System

M&A · Partnership
โดย Offshore Technology·US·Read original
Summary · why it matters

WhiteWater and its joint venture partners Devon Energy, Diamondback Energy, Western Midstream Partners and MPLX have reached a final investment decision to construct the Solitude Pipeline System in the US. The project will feature two 48-inch natural gas pipelines transporting supplies from the Permian Basin to a hub in Katy, Texas, near the Gulf coast, with initial capacity of approximately 2.25 billion cubic feet per day expected in late 2029 and an additional 2.25 billion cubic feet per day in 2030. WhiteWater holds a 50% stake in the joint venture, Devon Energy owns 25%, MPLX 10%, and Diamondback Energy and Western Midstream Partners each hold 7.5%. The system is supported by long-term transportation agreements with mainly investment-grade shippers, and Western Midstream Partners has taken firm capacity on the pipelines to enhance flow assurance for its Delaware Basin customers. Commissioning is subject to customary regulatory and other approvals, with service targeted to commence in the second half of 2029.

Impact on stocks 4

Energy▲ · 4 stocks
Devon Energy Corporation
DVN
▲ PositiveCapitalrelevance

Devon Energy owns 25% stake in the Solitude Pipeline JV, which has reached FID and secured long-term contracts.

Diamondback Energy Inc
FANG
▲ PositiveCapitalrelevance

Diamondback Energy holds 7.5% stake in the approved Solitude Pipeline project, expected to provide stable returns.

MPLX LP
MPLX
▲ PositiveCapitalrelevance

MPLX owns 10% of the Solitude Pipeline JV, which has reached FID and is backed by long-term agreements.

Western Midstream Partners LP
WES
▲ PositiveCapitalrelevance

Western Midstream Partners holds 7.5% stake and has taken firm capacity, enhancing its Delaware Basin flow assurance.

Off-coverage companies 1

WhiteWater MidstreamPrivate▲ Positive
Capitalrelevance

WhiteWater leads the JV with 50% stake and has approved FID for the Solitude Pipeline, a major infrastructure project.

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