Enable Midstream Is Planning an IPO - Bakken Gathering Assets Included

Enable Midstream's Gathering and Processing Assets

Enable Midstream (ENBL) has filed for an initial public offering and expects to raise net proceeds of $500 million to be used in expansion projects. The company will trade as a master limited partnership (MLP).

The deal includes Bakken gathering assets that were contributed by CenterPoint Energy.

The gathering system commenced operations in November 2013 and is expected to be in full operation in the third quarter of 2014. Enable Midstream estimates it could spend as much as $110 million on the Bakken system.

The company's Bakken system will have capacity of 19,500 b/d when fully operational and that entire amount is contracted through 2028. While only partially in service for most of the year, Enable estimates it will gather a little less than 10,000 b/d in 2014.

The company was formed in May of 2013 by affiliates of CenterPoint Energy, OGE Energy and ArcLight Capital Partners. The assets include CenterPoint's interstate pipelines and field services, as well as OGE's midstream business.

Enable Midstream is managed by a general partner whose governance is shared by CenterPoint Energy and OGE Energy on a 50/50 basis.

About Enable Midstream

Enable Midstream owns, operates and develops strategically located natural gas and crude oil infrastructure assets. Enable Midstream's initial assets include approximately 11,000 miles of gathering pipelines, 11 major processing plants with approximately 1.9 billion cubic feet per day of processing capacity, approximately 7,800 miles of interstate pipelines, approximately 2,300 miles of intrastate pipelines and eight storage facilities comprising 86.5 billion cubic feet of storage capacity.

Read the full press release at oge.com

Crestwood Midstream Acquires Arrow Midstream for $750 Million - Expanding Bakken Footprint

Crestwood Midstream is acquiring Arrow Midstream for $750 million. The deal will make Crestwood Midstream one of the largest Bakken midstream companies. The deal builds on the recent acquisition of Inergy Midstream that closed on Monday, October 7th.

“We are very excited about the addition of the Arrow assets to Crestwood’s rapidly expanding crude services business and our Bakken Shale footprint,” stated Robert G. Phillips, Chairman, President and Chief Executive Officer of Crestwood’s general partner. “.....The Bakken Shale is a core area for our future growth, and by extending our platform upstream of COLT, Crestwood will be expanding and optimizing the full suite of liquids value chain services we can provide for both our producer and demand-side customers.”

Arrow Midstream's assets are located on the Fort Berthold Indian Reservation and include:

• 150 miles of crude oil pipelines moving 50,000 b/d
• 160 miles of natural gas gathering lines moving 15 mmcfd
• 150 miles of water gathering lines moving 8,500 b/d
• Saltwater disposal wells
• Central delivery point with multiple pipeline outlets
• Automate truck loading facility

The assets are supported by operator commitments from 150,000 acres in Dunn and McKenzie counties. Current and future plans call for the expansion of capacity to 125,000 b/d of oil, 100 mmcfd, and 40,000 b/d of water.

After the close of this transaction, we will be one of the largest Bakken midstream service providers servicing approximately 18% of current total Bakken crude oil production. Nationwide, we will be handling over 470,000 Bbls/d of crude oil and NGLs in addition to over 2 billion cubic feet per day of natural gas through our gathering systems and transportation assets."

CenterPoint - XTO Sign Long-Term Crude Oil Gathering Agreement

Pipeline Construction

CenterPoint Energy has signed a long-term agreement to gather crude oil production for Exxon's XTO Energy subsidiary in Dunn and McKenzie counties. The system will include a 14-mile, 8-inch mainline, with 3-inch to 6-inch gathering lines. Total design capacity will be 19,500 b/d.

The gathering system will deliver oil to Great Northern Gathering and Marketing's Watford Terminal. The volume committed by XTO was not released, but operators were required to commit 5,000 b/d or more to receive the best rates.

"We are extremely pleased to provide long-term crude oil gathering services for such an outstanding producer, and we appreciate the confidence they have placed in our current and expanding capabilities," said C. Gregory Harper, SVP and President of CenterPoint Energy's Midstream business. "Our excellent track record of developing gathering systems on time and on budget continues to provide us with opportunities, and positions us to execute our strategy of expanding into liquids-rich basins."