RADNOR, Pa., Jan. 13, 2014 /PRNewswire/ -- PVR Partners,
L.P. (NYSE: PVR) ("PVR") today provided an update on the business
activity for its Eastern Midstream Segment.
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PVR reported that total throughput for the Eastern Midstream
Segment averaged more than 1.8 billion cubic feet per day ("Bcfd")
during the month of December 2013. The reported throughput
represented an increase of 60% over total throughput volume of 1.1
Bcfd during December 2012. PVR also reported that it
completed a total of 101 well connections in its Eastern Midstream
Segment during the full calendar year 2013.
PVR's Eastern Midstream business began operations in 2010
serving a single Marcellus producer. Total throughput volumes
during December 2010 were 25 million
cubic feet per day ("MMcfd"), and as of year-end 2010, PVR had
completed three well connections and operated three miles of
gathering pipeline.
As of December 31, 2013, PVR's
Eastern Midstream business operated 356 miles of gathering and
mainline pipeline with more than 100,000 horsepower of
compression. PVR's pipeline network in the Marcellus region
currently serves 15 producers and gathers gas from a total of 316
directly connected wells and from nine interconnections into the
Partnership's large diameter trunklines. PVR's Eastern
Midstream pipelines provide ten interconnections into major
interstate pipeline systems that deliver gas to the northeastern
United States, the country's
largest natural gas consumption market.
PVR also announced that it has entered into an agreement to
provide transportation and related services to a major Marcellus Shale natural gas producer.
Under terms of the agreement PVR will construct a new
interconnection into PVR's facilities and the producer has
committed to 50 MMcfd of firm natural gas transportation on
PVR's Wyoming trunkline.
Shipments are expected to commence upon completion of the new
interconnection during the fourth quarter of 2014. In
addition, PVR reported that other current Marcellus area shippers
have increased their transportation commitments for use of PVR's
trunklines.
Bill Shea, President and Chief
Executive Officer of PVR's general partner, said; "We are pleased
to report the continued growth of our Eastern Midstream
business. Volumes showed strong growth during the fourth
quarter, and December volumes exceeded the high end of our
expectations for total year-end gathering and trunkline
throughput. Total direct well connections during 2013
materially exceeded our initial forecast of 91 connects for the
full year. We believe that the remarkable track record of our
midstream business over the past three years, and the demonstrated
ability of the PVR team to deliver on the service commitments we
have made to our customers, position the business for continued
growth and success in the midstream industry.
"We are also excited to see the continued growth of our
Marcellus area customer base, and to add another well-respected
producer to the roster of industry-leading names that we serve,"
concluded Mr. Shea.
PVR Partners, L.P. (NYSE: PVR) is a publicly traded limited
partnership which owns and operates a network of natural gas
midstream pipelines and processing plants, and owns and manages
coal and natural resource properties. Our midstream assets,
located principally in Texas,
Oklahoma and Pennsylvania, provide gathering,
transportation, compression, processing, dehydration and related
services to natural gas producers. Our coal and natural
resource properties, located in the Appalachian, Illinois and San
Juan basins, are leased to experienced operators in exchange
for royalty payments.
This press release includes "forward-looking statements"
within the meaning of federal securities laws. All statements,
other than statements of historical facts, included in this release
that address activities, events or developments that the
Partnership expects, believes or anticipates will or may occur in
the future are forward-looking statements. These
forward-looking statements rely on a number of assumptions
concerning future events and are subject to a number of
uncertainties, factors and risks, many of which are outside the
Partnership's ability to control or predict, which could cause
results to differ materially from those expected by management.
Such risks and uncertainties include, but are not limited to,
regulatory, economic and market conditions, and the timing and
success of business development efforts and other
uncertainties. Additional information concerning these and
other factors can be found in our press releases and public
periodic filings with the Securities and Exchange Commission,
including our Annual Report on Form 10-K for the year ended
December 31, 2012 and most recently
filed Quarterly Reports on Form 10-Q. Readers should not
place undue reliance on forward-looking statements, which reflect
management's views only as of the date hereof. We undertake
no obligation to revise or update any forward-looking statements,
or to make any other forward-looking statements, whether as a
result of new information, future events or otherwise.
Contact: Stephen R. Milbourne
Director - Investor Relations
Phone: 610-975-8204
E-Mail: invest@pvrpartners.com
SOURCE PVR Partners, L.P.