Eiger Express Pipeline Capacity Expansion

Rhea-AI Summary

WhiteWater announced an increase in the Eiger Express Pipeline mainline capacity from 2.5 Bcf/d to 3.7 Bcf/d after securing additional firm transportation agreements.

The mainline was upsized from 42" to 48" and incremental compression will be installed. The company expects the project to remain on its previously announced mid-2028 in-service date, subject to customary regulatory and other approvals. The pipeline will carry Permian Basin natural gas to the Katy area.

Ownership: the Eiger Express joint venture is held by Matterhorn JV (70%), ONEOK (15%) and MPLX (15%). Matterhorn JV ownership is WhiteWater (65%), ONEOK (15%), MPLX (10%) and Enbridge (10%). WhiteWater’s Matterhorn stake is owned by FIC and I Squared Capital.

Positive

• Mainline capacity increased from 2.5 Bcf/d to 3.7 Bcf/d
• Upsize to 48" mainline plus incremental compression installed
• Project remains on track for mid-2028 in-service date

Negative

• Capacity increase remains subject to customary regulatory and other approvals
• Construction scope expanded by upsizing mainline to 48" and adding compression

AUSTIN, Texas, Nov. 24, 2025 /PRNewswire/ -- WhiteWater today announced the expansion of the Eiger Express Pipeline's mainline capacity from 2.5 billion cubic feet per day (Bcf/d) to 3.7 Bcf/d, having secured additional firm transportation agreements since WhiteWater announced the project in August 2025. In order to effectuate this increase, the mainline has been upsized from a 42" to a 48" diameter pipeline, along with incremental compression being installed. This expansion of Eiger Express Pipeline's capacity is not expected to affect its previously announced expected in-service-date of mid-2028, pending the receipt of customary regulatory and other approvals.

The Eiger Express Pipeline, designed to transport natural gas from the Permian Basin in West Texas to the Katy area, is owned by a joint venture among the Matterhorn JV (70%), ONEOK (15%) and MPLX (15%). The Matterhorn JV is owned by WhiteWater (65%), ONEOK (15%), MPLX (10%), and Enbridge (10%). The joint venture owns long-haul natural gas pipelines which transport natural gas from the Permian Basin to the Gulf Coast with direct connections to LNG export markets. WhiteWater's stake in the Matterhorn JV is owned by FIC and I Squared Capital. ONEOK's and MPLX's direct ownership interests in the Eiger Express Pipeline joint venture are incremental to their ownerships in the Matterhorn JV.

About WhiteWater

WhiteWater is an Austin, Texas based infrastructure company and operator of multiple gas transmission assets, including the Matterhorn Express Pipeline and the Eiger Express Pipeline. WhiteWater is partnered with multiple private equity funds, including but not limited to FIC and I Squared Capital. For more information about WhiteWater, visit www.wwdev.com.

About FIC

FIC Partners Management, LP ("FIC") is an investment firm with a focus on critical infrastructure assets across the energy and power use value chains. FIC focuses on investment opportunities that seek to generate long-term capital appreciation in the gas transmission, downstream, power and utilities, renewables, and data/telecommunications industries. We partner with management teams and businesses to help accelerate the development of strategic assets that serve society's growing energy needs and the associated decarbonization of industrial infrastructure. FIC is the renamed firm following the merger of Emerald Bridge Capital, LP and First Infrastructure Capital Advisors, LLC. For more information about FIC, please visit www.FICfund.com.

About I Squared Capital

I Squared Capital is a leading global infrastructure investor managing $50 billion in assets. We build and scale essential infrastructure businesses that deliver critical services to millions of people worldwide. Our portfolio includes over 90 companies operating in more than 70 countries and spanning sectors such as energy, utilities, digital infrastructure, transport, environmental and social infrastructure. Headquartered in Miami, our team of over 300 professionals is based across offices in Abu Dhabi, London, Munich, New Delhi, São Paulo, Singapore, Sydney and Taipei. Learn more at www.isquaredcapital.com.

About ONEOK

At ONEOK, Inc. (NYSE: OKE), we deliver energy products and services vital to an advancing world. We are a leading midstream operator that provides gathering, processing, fractionation, transportation, storage and marine export services. Through our approximately 60,000-mile pipeline network, we transport the natural gas, natural gas liquids (NGLs), refined products and crude oil that help meet domestic and international energy demand, contribute to energy security and provide safe, reliable and responsible energy solutions needed today and into the future. As one of the largest integrated energy infrastructure companies in North America, ONEOK is delivering energy that makes a difference in the lives of people in the U.S. and around the world. ONEOK is an S&P 500 company headquartered in Tulsa, Oklahoma. For information about ONEOK, visit the website: www.oneok.com.

About MPLX

MPLX LP (NYSE: MPLX) is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets and provides fuels distribution services. MPLX's assets include a network of crude oil and refined product pipelines; an inland marine business; light-product terminals; storage caverns; refinery tanks, docks, loading racks, and associated piping; and crude and light-product marine terminals. MPLX also owns crude oil and natural gas gathering systems and pipelines as well as natural gas and NGL processing and fractionation facilities in key U.S. supply basins. More information is available at www.MPLX.com.

About Enbridge

At Enbridge Inc., we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We're investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power to advance new technologies including hydrogen, renewable natural gas and carbon capture and storage. Headquartered in Calgary, Alberta, Enbridge's common shares trade under the symbol ENB on the Toronto (TSX) and New York (NYSE) stock exchanges. To learn more, visit us at enbridge.com.

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SOURCE WhiteWater

FAQ

What capacity change did WhiteWater announce for the Eiger Express Pipeline (OKE) on November 24, 2025?

WhiteWater announced the Eiger Express mainline capacity increase from 2.5 Bcf/d to 3.7 Bcf/d.

Will the Eiger Express Pipeline still target a mid-2028 in-service date after the upsizing (OKE)?

Yes; the company expects the previously announced mid-2028 in-service date to remain, pending customary regulatory and other approvals.

What physical changes were made to support the Eiger Express capacity expansion announced Nov 24, 2025?

The mainline was upsized from 42" to 48" and incremental compression equipment will be installed.

Which parties own the Eiger Express Pipeline joint venture mentioned in the Nov 24, 2025 notice (OKE)?

The joint venture owners are Matterhorn JV (70%), ONEOK (15%) and MPLX (15%).

Who owns the Matterhorn JV stake that holds 70% of Eiger Express (OKE)?

Matterhorn JV ownership is WhiteWater 65%, ONEOK 15%, MPLX 10% and Enbridge 10%; WhiteWater’s stake is owned by FIC and I Squared Capital.

What route will the Eiger Express Pipeline serve after the expansion announced Nov 24, 2025 (OKE)?

The pipeline is designed to transport natural gas from the Permian Basin in West Texas to the Katy area with connections to Gulf Coast LNG markets.