Enterprise to begin open season for proposed expansion of Panola system Enterprise Products Partners affiliate Panola Pipeline announced the start of a binding open season to seek shipper support for a proposed expansion of the Carthage to Lufkin segment of its natural gas liquids pipeline system. The Panola Pipeline is a 181-mile pipeline that originates near Carthage in Panola County, Texas and supports the Haynesville and Cotton Valley oil and gas production areas. Depending on shipper response to the open season, the Panola expansion project will be designed to accommodate approximately 15,000 barrels per day of incremental capacity. Achieving the additional capacity would involve installing pumps and related equipment. The additional capacity would be available mid to late 2Q13.
Enterprise Products upgraded to Buy from Hold at Jefferies Jefferies upgraded Enterprise Products to Buy with a $36 price target saying the 13.5% year-to-date decline in units presents an attractive entry point.