Crestwood Midstream’s Plans for 2014 (Hint: Marcellus)
Last week Crestwood Midstream Partners issued an update for their 2014 plans. You may recall that in 3Q13 Crestwood merged with Inergy Midstream (see Crestwood/Inergy Complete Their Merger Today, Worth $8B). At the time, Crestwood said their focus for the remainder of this year would largely be the Marcellus Shale (see Crestwood Midstream 3Q13: Merger Done, Pedal to Marcellus Metal).
According last week’s update, the Marcellus will continue to be one of the primary focuses of the company. Crestwood plans to spend $400 to $425 million on new capital projects in 2014–much of it in the Marcellus, although they also have major projects cooking in the North Dakota Bakken Shale region and the Niobrara Shale of Colorado & Wyoming. The “forward looking” update from Crestwood: