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Epic to construct 2nd fractionator at Texas complex

Epic Y-Grade LP plans to build a second 110,000-barrel-per-day greenfield fractionator at its complex located in Robstown, Texas, effectively boosting its fractionation capacity to 270,000 barrels per day.

The partnership's complex currently has an operational fractionation capacity of 170,000 bbl/d and the first greenfield fractionator is still being constructed, according to a Dec. 12 news release. Epic Y-Grade reached a final investment decision on the second fractionator after obtaining fixed-fee multiyear supply contracts with gathering and processing companies in the Permian Basin.

Epic Y-Grade will fund the project through its existing term loan B, which has been upsized by $150 million. The upsize brings Epic's total borrowing base to $950 million.

Epic Midstream LLC's Epic Y-Grade was formed to build and operate the Epic Y-Grade pipeline, a 700-mile, 24-inch NGL pipeline connecting reserves in the Permian and Eagle Ford basins to refiners, petrochemical companies and export markets in the Gulf Coast. The partnership is supported by capital commitments from funds managed by the private equity group of Ares Management Corp. and equity ownership by Noble Midstream Partners LP and Salt Creek Midstream LLC.