Howard Energy mates( HEP) moment blazoned that it completed roughly$ 800 million in growth systems in 2023, conforming of new major channels and recycling installations in the most active oil painting and gas producing basins in the United States and new storehouse and logistics installations for renewable diesel on the Texas Gulf Coast. The Company also achieved record volumes in 2023, with current average natural gas outturn of over2.5 billion boxy bases per day( Bcf/ d) and current average terminalling outturn of further than 160,000 barrels per day( bpd), representing a 7 percent and 25 percent increase in volumes over 2022, independently. The expansion systems and associated ongoing24/7 operations were completed while achieving a perfect safety record to date in 2023.
“ This has been a corner time for Howard Energy mates. We’re extremely pleased to have successfully completed several strategic growth systems that mainly increase our capability to help guests move their products to request, ” said Mike Howard, HEP Chairman and CEO. “ As we look to 2024, our strong liquidity position of nearly$ 1 billion will allow us the capability to snappily execute on new openings and continue our strong growth line. ”
South Texas Expansion
HEP, as the driver of the Dos Cominos common adventure with NextEra Energy, completed its new South Texas natural gas channel and installation expansion in early November, one month ahead of schedule. The Spears design includes a 62- afar, 36- inch channel and significant associated treating and contraction installations, furnishing HEP’s South Texas guests the capability to transport up to 1 Bcf/ d of incremental natural gas volumes to growing Gulf Coast LNG installations where demand is read to increase 152 percent by 2050. This expansion represents the largest domestic channel design in the Company’s history and was erected in response to the LNG request’s growing demand for low- nitrogen natural gas from the Eagle Ford shale play of Webb County, Texas.
Port Arthur Terminal Expansion
HEP completed significant expansion systems at its 450- acre terminal installation in Port Arthur, Texas, to support Diamond Green Diesel’s new 470 million gallons per time renewable diesel product installation located at Valero’s Port Arthur refinery. The expansion includes a alternate deep- water wharf with fresh capacity available for third- party shippers.
HEP also commissioned new installations to handle Refinery Grade Propylene and Polymer Grade Propylene including rail transloading spots, pressurized storehouse, and associated channels and pumps to connect the terminal to one of the world’s commanding chemical companies.
Upon completion of all Port Arthur expansion systems, HEP’s installation consists of nearly two million barrels of storehouse, 16 long hauls of rail track with unit train and manifest service from two roads, three barge jetties, two deep- water jetties able of lading Panamax- class vessels, and channel connectively to original pollutants and artificial shops.
Delaware Basin Expansion
HEP, as the driver of the Catalyst Midstream Partners( Catalyst) common adventure, completed its 200 million boxy bases per day( MMcf/ d) Train 3 expansion of the Stateline natural gas processing complex in Orla, Texas, adding total processing capacity to over 600 MMcf/ d. The expansion design positions Catalyst as a major aggregator of natural gas and associated natural gas liquids in the largely coveted Stateline region of the Delaware Basin.
Safety and ESG Achievements
HEP completed these major expansion systems with zero recordable incidents or preventable vehicle accidents. Over the last three times, HEP achieved zero recordable incidents with further than two million manhours worked and zero preventable vehicle accidents with further than5.8 million long hauls driven during this time period.
In 2023, HEP was also awarded GRESB’s five- star ESG standing, a top- league bracket that the Company has achieved for the alternate time in a row. This recognition, combined with the safety excellence awards from the GPA Midstream Association and the International Liquids Terminal Association, builds on HEP’s assiduity- leading track record of ESG and safety performance.
“ While planting$ 800 million of expansion systems is an integral part of our strategic growth plan, prioritizing safety and functional excellence is inversely important, ” said Howard. “ As we continue to produce long- term value for our investors and guests, our different capabilities and strong functional footmark positions us as a sought- after midstream mate”.
