Diamondback to Join 4 Partners in 2 Permian Gas Pipelines


   
   SECAUCUS, NJ (DTN) -- Diamondback Energy, a leading Permian shale producer, 
is joining four other U.S. energy companies in building two gas pipelines in 
the oil basin, according to news releases Monday (8/17) on the initiative.

   Diamondback, along with Devon Energy, MPLX LP, Western Midstream Partners 
and WhiteWater are to construct the two 48-inch natural gas pipelines running 
from the Permian Basin to Katy, Texas.

   The Solitude Pipeline System joint venture will deliver an initial transport 
capacity of roughly 2.25 billion cubic feet of natural gas per day when it 
enters service in the second half of 2029. Phase two will add an additional 
2.25 billion cubic feet per day in 2030, with further expansion options 
available as basin production requires.

   The project reached a positive final investment decision supported by 
long-term firm transportation agreements with predominantly investment-grade 
shippers, the releases added.

   WhiteWater will operate the joint venture and retain a 50% interest, while 
Devon holds 25%, MPLX owns 10%, and both Diamondback Energy and Western 
Midstream get 7.5% stakes each.




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