<photocredit>TooTH_PIK/iStockphoto/Thinkstock</photocredit>” src=”/ext/resources/News-Photos/2013/0813/TS_159037351_715x400.jpg” style=”width: 715px; height: 400px;” /></div>
<p> <SCRIPT LANGUAGE=

Enterprise Products Partners L.P. has acquired EFS Midstream LLC, a company that provides gas gathering, treating, compression and condensate processing services in the Eagle Ford Shale in Texas.

The business was purchased from affiliates of Pioneer Natural Resources Company and Reliance Industries Limited for a total of $2.15 billion. The parties also signed new downstream processing and transportation contracts.

"This purchase and the associated long-term, fee-based agreements expand our relationship with Pioneer and Reliance and broaden the midstream services that we provide to them," commented Michael A. Creel, CEO of Enterprise's general partner. "This 'bolt on' acquisition extends our integrated system deeper into the NGL (natural gas liquids) and condensate rich areas of the Eagle Ford, which will provide us with the ability to offer services to additional producers and increase volumes on our system."

EFS Midstream has approximately 460 miles of natural gas gathering pipelines, 10 central gathering plants, 780 million cubic feet per day of natural gas treating capacity and 119,000 barrels per day of condensate stabilization capacity.

Under a 20-year, fixed-fee gathering agreement, the Pioneer and Reliance joint development will dedicate its Eagle Ford Shale acreage to Enterprise. Pioneer and Reliance will also dedicate their Eagle Ford Shale acreage under related 20-year fee-based agreements with Enterprise for natural gas processing, natural gas liquids transportation and fractionation, and for natural gas, processed condensate and crude oil transportation services.

The transaction remains subject to regulatory approvals and closing conditions but is expected to be completed in the third quarter of 2015.