December 31, 2013 [San Antonio Business Journal] - Howard Energy Partners, fueled by new backing from pipeline-investment giant Alinda Capital Partners, is developing approximately $100 million in new Eagle Ford Shale storage and processing facilities.
San Antonio’s Howard has begun work on a 10,000 barrel-per-day stabilizer plant near Three Rivers, an hour south of San Antonio. That facility will process natural gas liquids not considered fit for pipeline transfer into transportable products such as rich gas, natural gas liquids and condensates.
The company also is building a 21-tank terminal at the Port of Brownsville with a total 225,000-barrel capacity. That facility will allow the company to store oil and natural gas liquids as they await import, export or transfer elsewhere in the U.S.
“These projects allow us to diversify our cash flow stream,” says Mike Howard, CEO of Howard, which operates 150 miles of pipelines across the Eagle Ford plus other midstream facilities.
Both the stabilizer and the terminal are expected to be operational by mid-2014.
Earlier this month, Greenwich, Conn.-based Alinda bought a 59 percent interestin Howard previously held by Quanta Capital Solutions Inc, GE Energy Financial Services and Clear Springs Energy LLC. Alinda has more than $7.8 billion in investments worldwide.
