Key Developments: Enterprise Products Partners LP (EPD.N)

EPD.N on New York Stock Exchange

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27 Jul 2015
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Latest Key Developments (Source: Significant Developments)

Enterprise Products Partners LP to sell offshore Gulf of Mexico business to Genesis Energy LP
Thursday, 16 Jul 2015 06:32am EDT 

Enterprise Products Partners LP:To sell offshore Gulf of Mexico business to Genesis Energy LP.Expects to record non-cash asset impairment and related charges of about $100 million.Says the company's offshore assets include its ownership interest in nine crude oil pipeline systems.Expects to record non-cash asset impairment, related charges of $0.05 per common unit on a fully-diluted basis.Says non-cash charges will be reflected in enterprise's consolidated results for three and six months ended June 30.Says plan to redeploy proceeds from sale into growth opportunities that would extend, expand integrated midstream system.Proceeds from sale eliminates co's need for equity capital for remainder of 2015 based on current expectations Rpt-enterprise products partners-expects to record non-cash asset impairment and related charges of about $100 million.  Full Article

Enterprise Products increases quarterly distribution by 5.6 pct
Tuesday, 7 Jul 2015 08:00am EDT 

Enterprise Products Partners LP:Enterprise declares distribution; 44th consecutive quarterly distribution increase.Board of general partner declared increase in the quarterly cash distribution paid to partners to $0.38 per common unit.Says distribution represents 5.6 percent increase over distribution declared with respect to Q2 of 2014.  Full Article

Enterprise Products Partners LP announces acquisition of Eagle Ford Midstream Assets
Monday, 1 Jun 2015 08:49am EDT 

Enterprise Products Partners LP:Enterprise announces acquisition of Eagle Ford Midstream Assets.Deal for $2.15 bln.Says final installment of $1.0 bln paid no later than the first anniversary of the closing date.Purchase price will be paid in two installments with the first installment of $1.15 billion paid at closing.Expect the transaction to be immediately accretive to distributable cash flow.Pioneer,reliance joint development will dedicate Eagle Ford shale acreage to enterprise under 20-year gathering agreement.Says transaction is expected to close in the third quarter of 2015.To purchase all member interests in efs midstream llc from affiliates of Pioneer Natural Resources Reliance Industries.  Full Article

Enterprise Products Partners declares quarterly distribution increase
Wednesday, 8 Apr 2015 04:30pm EDT 

Enterprise Products Partners:Declares an increase in the quarterly cash distribution paid to partners to $0.375 per common unit, or $1.50 per unit on an annualized basis.Payable on May 7 to unitholders of record as of the close of business on April 30.Says this distribution represents a 5.6 percent increase.  Full Article

Enterprise Products Partners announces change in management
Monday, 30 Mar 2015 04:30pm EDT 

Enterprise Products Partners:Reported that Michael A. Creel, chief executive officer of Enterprise's general partner, has announced his intention to retire as of Dec. 31.A.J. Jim Teague, Enterprise's chief operating officer, has been elected to succeed Creel as CEO.Bryan F. Bulawa has been elected senior vice president and chief financial officer effective as of April 1.  Full Article

Enterprise Products Partners LP, Anadarko, DCP Midstream and MarkWest form joint venture for Panola NGL Pipeline in Texas
Tuesday, 24 Feb 2015 08:00am EST 

Enterprise Products Partners LP, Anadarko Petroleum Corp, DCP Midstream Partners, LP and MarkWest Energy Partners, L.P:Announced the formation of a joint venture under which Enterprise will assign 45 pct ownership interest in its wholly owned Panola Pipeline Company, LLC.Says the interest will be evenly divided among Anadarko's affiliate, WGR Asset Holding Company LLC (WGR), DCP Midstream Partners and MarkWest.Says Enterprise will continue to serve as operator of the Panola Pipeline and own the remaining 55 pct interest.  Full Article

Enterprise Products Partners LP and Oiltanking Partners LP complete merger
Friday, 13 Feb 2015 11:49am EST 

Enterprise Products Partners LP and Oiltanking Partners LP:Announce completion of merger of Oiltanking Partners with subsidiary of Enterprise after Oiltanking Partners unitholders approved merger during a unitholder meeting held in Houston.About 99.87 percent of Oiltanking Partners common units that voted were cast in favor of merger, including 54,799,604 (about 66 percent of the outstanding Oiltanking Partners common units) owned by Enterprise Products Operating LLC, wholly owned subsidiary of Enterprise.Total number of units that voted in favor of the merger represents about 92.18 percent of Oiltanking Partners' total outstanding common units as of the record date.Excluding units owned by Enterprise, about 99.54 percent of the Oiltanking common units that voted were cast in favor of merger.As a result of the merger, Oiltanking Partners is now wholly owned subsidiary of Enterprise and its common units will cease trading on New York Stock Exchange at close of business on Feb. 13.Enterprise common units will continue to trade on New York Stock Exchange under ticker symbol EPD.  Full Article

Enterprise Products Partners declares distribution
Tuesday, 6 Jan 2015 10:51am EST 

Enterprise Products Partners LP:Declares an increase in the quarterly cash distribution paid to partners to $0.37 per common unit, or $1.48 per unit on an annualized basis.Distribution will be paid on Feb. 6, to unitholders of record as of the close of business on Jan. 30.  Full Article

Enterprise Products Partners declares 41st consecutive quarterly distribution
Friday, 10 Oct 2014 01:04pm EDT 

Enterprise Products Partners LP:Declares uarterly cash distribution of $0.365 per common unit, or $1.46 per unit on an annualized basis.Payable on Nov. 7 to unitholders of record as of the close of business on Oct. 31.  Full Article

Enterprise prices $2.75 bln of senior unsecured notes
Thursday, 2 Oct 2014 04:28pm EDT 

Enterprise Products Partners LP:Announced that its operating subsidiary, Enterprise Products Operating, has priced a public offering of $2.75 bln of senior unsecured notes comprised of $800 mln due on Oct. 15, 2019, $1.15 bln due on Feb. 15, 2025, $400 mln due on March 15, 2044, and $400 mln due on Oct. 15, 2054.Net proceeds of this offering for the repayment of debt and for general company purposes.  Full Article

UPDATE 1-Pipeline operator Genesis to buy Enterprise's U.S. Gulf business

July 16 - Pipeline company Genesis Energy LP said it would buy Enterprise Products Partners LP's Gulf of Mexico pipelines and services business for about $1.5 billion to expand its offshore pipelines business.

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