| Date | Description |
|---|---|
| 2010 | May 2010, announced that it has entered into a six year agreement to provide Anadarko Energy Services Company with natural gas liquid (NGL) fractionation services. Under terms of the agreement, Enterprise will make up to 62,000 barrels per day (BPD) of firm NGL fractionation capacity available at it’s fractionation complex in Mont Belvieu, Texas beginning September 1, 2010. |
| 2010 | May 2010, announced that Enterprise and Anadarko Petroleum Corporation received the Distinguished Achievement Award, presented by the Offshore Technology Conference for their groundbreaking Independence project in the ultra-deepwaters of the Gulf of Mexico. The award is given annually for unique achievements in, or contributions to, the various fields of offshore technology. |
| 2010 | May 2010, completed the purchase of the State Line and Fairplay natural gas gathering and treating systems from subsidiaries of M2 Midstream LLC for approximately $1.2 billion. Located in northwest Louisiana and East Texas, these assets gather natural gas produced from the Haynesville/Bossier Shales and the Cotton Valley and Taylor Sands formations and will complement the extension of Enterprise’s Acadian pipeline system, which will provide shippers with takeaway capacity from the growing Haynesville Shale. |
| 2010 | April 2010, announced agreements to purchase two natural gas gathering and treating systems from subsidiaries of M2 Midstream LLC for approximately $1.2 billion. These systems (State Line and Fairplay) are located in Northwest Louisiana and East Texas and gather natural gas produced from the Haynesville/Bossier Shales and the Cotton Valley and Taylor Sands formations. The State Line system is located in Desoto and Caddo Parishes, Louisiana and Panola County, Texas and will interconnect with the 42-inch Haynesville Extension of Enterprise’s Acadian natural gas pipeline system. The system includes 138 miles of natural gas pipelines with a capacity of approximately 400 million cubic feet per day (MMcfd) and two treating facilities. The Fairplay system is located in Rusk, Panola, Gregg and Nacogdoches counties, Texas. The system includes 249 miles of natural gas pipelines (including approximately 62 miles leased from third parties) with a capacity of approximately 285 MMcfd, and is currently gathering approximately 180 MMcfd. This system is expected to be connected to the Enterprise Texas Pipeline system. |
| 2010 | April 2010, increased the current quarterly cash distribution rate to partners to $0.5675 per common unit, a 5.6% increase over the $0.5375 per unit quarterly distribution paid with respect to the first quarter of 2009, representing the 32nd distribution increase since Enterprise’s initial public offering in 1998 and the 23rd consecutive quarterly increase. |
| 2010 | January 2010, increased the current quarterly cash distribution rate to partners to $0.56 per common unit, a 5.7% increase over the $0.53 per unit quarterly distribution paid with respect to the fourth quarter of 2008, representing the 31st distribution increase since Enterprise’s initial public offering in 1998 and the 22nd consecutive quarterly increase. |
| 2009 | December 2009, provided an update on two pipeline projects currently under construction that are expected to provide in excess of 200 million cubic feet per day (MMcfd) of incremental transportation capacity for natural gas production from the Eagle Ford Shale formation in the first quarter of 2010. The White Kitchen Lateral, a new 62-mile, 16-inch diameter natural gas pipeline runs through the heart of the Eagle Ford Shale play and connects two existing 20-inch diameter pipelines that lie at opposite ends of the development that are part of Enterprise's South Texas Pipeline system. An additional segment to further expand the capacity of this pipeline is scheduled for completion in the second quarter of 2010, at which time the system is expected to provide in excess of 200 MMcfd of incremental natural gas pipeline capacity. Another 34-mile, 24-inch diameter natural gas pipeline is under construction that will be the first segment of a major, east-west Eagle Ford Shale mainline and designed to connect to the partnership's South Texas pipeline system in southwest LaSalle County to the White Kitchen Lateral and should also be in service in the second quarter of 2010. |
| 2009 | December 2009, announced the purchase of a 70 percent interest in the Rio Grande Pipeline from HEP Navajo Southern, L.P. Enterprise will serve as operator and BP will retain its 30 percent ownership stake in the 265-mile, 8-inch diameter natural gas liquids pipeline, which originates near Odessa, Texas in Ector County. |
| 2009 | November 2009, announced along with Duncan Energy Partners receipt of additional firm transportation commitments from shippers sufficient to support an increase in the capacity of the Haynesville Extension project from 1.4 billion cubic feet per day (Bcf/d) to 2.1 Bcf/d. The size of the 249-mile pipeline extension was also increased to 42 inches in diameter. |
| 2009 | October 2009, announced along with Duncan Energy Partners plans for their jointly owned Acadian Gas LLC subsidiary to extend its Louisiana intrastate natural gas pipeline system into Northwest Louisiana to provide producers in the Haynesville Shale play with access to attractive markets through connections with Acadian's existing 1,000 mile pipeline system in South Louisiana and nine major interstate pipelines. This project will have the capacity to transport up to 1.4 billion cubic feet per day from the Haynesville area through a 249-mile, 36-inch and 30-inch diameter pipeline that will connect to Acadian's existing system as well as its affiliated Cypress Gas Pipeline. |
| 2009 | October 2009, announced the merger of Enterprise Products Partners and TEPPCO Partners, creating the nation's largest publicly traded energy partnership with an enterprise value of approximately $30 billion, 48,000 miles of pipelines and market capitalization of $18 billion. Approximately 97 percent of the TEPPCO units that voted were cast in favor of the merger and represented about 71 percent of TEPPCO's total outstanding units. In addition, approximately 96 percent of the votes cast by Unaffiliated TEPPCO Unitholders approved the merger of the two partnerships. Under the terms of the merger agreement, TEPPCO unitholders will receive 1.24 Enterprise common units for each TEPPCO unit owned at the effective time of the merger, which was October 26, 2009. The merger agreement was approved by TEPPCO unitholders at a special meeting held on October 23, 2009 |
| 2009 | October 2009, increased the current quarterly cash distribution rate to partners to $0.5525 per common unit, a 5.7% increase over the $0.5225 per unit quarterly distribution paid with respect to the third quarter of 2008, representing the 30th distribution increase since Enterprise's initial public offering in 1998 and the 21st consecutive quarterly increase. |
| 2009 | September 2009, announced long-term agreement to provide natural gas transportation and processing services on dedicated acreage owned by one of the largest and most active producers in the developing Eagle Ford Shale play. The agreement covers more than 150,000 acres in the heart of the Eagle Ford Shale play. Stretching from the Mexico border along the Gulf Coast to near Louisiana, the Eagle Ford Shale covers more than 10 million acres in Texas and lies beneath or near the partnership's energy assets in the region. |
| 2009 | August 2009, announced plans to build a new 75,000 barrels per day (BPD) natural gas liquid (NGL) fractionator at its Mont Belvieu, Texas complex that will provide the partnership with additional capacity to better accommodate growing NGL volumes from producing areas in the Rockies, the Barnett Shale and the emerging Eagle Ford Shale play in South Texas. The project will increase Enterprise's NGL fractionation capacity at Mont Belvieu to approximately 300,000 BPD and net system-wide capacity to approximately 600,000 BPD. |
| 2009 | July 2009, increased the current quarterly cash distribution rate to partners to $0.545 per common unit, a 5.8% increase over the $0.515 per unit quarterly distribution paid with respect to the second quarter of 2008. |
| 2009 | June 2009, announced along with TEPPCO Partners and Enterprise GP Holdings that Enterprise and TEPPCO entered into definitive agreements to merge the two partnerships to form the largest publicly traded energy partnership with an enterprise value of more than $26 billion. The combined partnership will retain the name Enterprise Products Partners L.P. and will access the largest producing basins of natural gas, natural gas liquids (NGLs) and crude oil in the United States and will serve some of the largest consuming regions for natural gas, NGLs, refined products, crude oil and petrochemicals. |
| 2009 | June 2009, announced along with the Jicarilla Apache Nation, that a 20-year right-of-way agreement was signed that allows the partnership to continue its natural gas gathering operations on reservation lands in northwest New Mexico while continuing to own and operate existing infrastructure and related assets located on tribal land. This includes 545 miles of gathering lines connected to the partnership's San Juan Gathering system. |
| 2009 | May 2009, announced that it has been ranked 5th in an annual survey of Houston's 100 top-performing, publicly traded companies. |
| 2009 | May 2009, announced that the partnership ranks 89th on Barron's annual list of the 500 top-performing companies, a jump of 123 spots over the 2008 survey. |
| 2009 | May 2009, announced the purchase of the Mont Belvieu rail and truck terminal facilities from Martin Midstream Partners L.P. The facilities will allow Enterprise the capability to offload, store and transport refinery grade propylene (RGP) from rail cars for use at its Mont Belvieu propylene/propane and natural gas liquids (NGLs) fractionation complex. |
| 2009 | April 2009, increased the current quarterly cash distribution rate to partners to $0.5375 per common unit, a 5.9% increase over the $0.5075 per unit quarterly distribution paid with respect to the first quarter of 2008. |
| 2009 | April 2009, announced the completion of its crude oil pipeline serving the BHP-Billiton-operated Shenzi field in the Gulf of Mexico. The 83-mile, 20-inch diameter pipeline, with a capacity of 230,000 barrels per day of crude oil, is now transporting production from the deepwater discovery located at Green Canyon Block 653. |
| 2009 | April 2009, announced the installation of two eight-inch diameter pipelines that will increase throughput capacity of natural gas liquids (NGLs) from the partnership's Norco fractionation facility west of New Orleans to refineries and petrochemical plants in southern Louisiana. This facility is capable of separating up to 75,000 barrels of NGLs per day. |
| 2009 | March 2009, Enterprise and Duncan Energy Partners announced the completion of the 174-mile Sherman Extension of the Enterprise Texas Intrastate natural gas pipeline system. The 36-inch diameter pipeline has the capacity to transport 1 Bcf/d of natural gas from the Barnett Shale to Boardwalk Pipeline Partners, L.P.'s Gulf Crossing pipeline near Sherman, Texas. |
| 2009 | March 2009, announced the completion of the partnership's Meeker II natural gas processing plant in the Piceance Basin in Colorado. The expansion doubled the natural gas processing capacity at the Meeker complex to 1.5 billion cubic feet per day with the capability to extract up to 70,000 barrels per day of natural gas liquids. Enterprise also recently expanded the processing capacity of its Shilling and Thompsonville natural gas processing plants in South Texas. |
| 2008 | February 2009, Enterprise and SUG Energy, LLC, a subsidiary of Southern Union Company, announced that they entered into a 10-year, natural gas liquids fractionation agreement. The agreement provides Southern Union with up to 38,000 barrels per day of firm fractionation capacity at Enterprise's Mont Belvieu, Texas facility, beginning January 1, 2010. |
| 2009 | January 2009, increased the current quarterly cash distribution rate to partners to $0.53 per common unit, a 6.0% increase over the $0.50 per unit quarterly distribution paid with respect to the fourth quarter of 2007. |
| 2009 | January 2009, Enterprise announced that Dan L. Duncan its founder and chairman of the board of directors of its general partner, has committed to reinvest $65 million of Enterprise distributions to be received in February 2009 to purchase newly issued Enterprise common units through the partnership's distribution reinvestment plan. Dan Duncan also indicated his willingness to consider investing up to $260 million in newly issued equity of Enterprise Products in 2009, including the $65 million reinvestment in February, to support Enterprise's capital raising efforts. |
| 2008 | December 2008, Enterprise and Questar Pipeline announced that service began on the White River Hub. The hub, located in Rio Blanco County Colorado, connects Enterprise's natural gas processing plant at Meeker with four interstate natural gas pipelines; Rockies Express Pipeline LLC; Questar Pipeline; Northwest Pipeline GP and TransColorado Gas Transmission. The White River Hub consists of four miles of existing 36-inch diameter pipe and about seven miles of new, 30-inch diameter pipe, plus tie-in and metering facilities and provides more than 2.5 billion cubic feet per day of firm and interruptible transportation/wheeling service allowing producers, marketers and shippers to access downstream markets for natural gas volumes produced in northwest Colorado's Piceance Basin. |
| 2008 | December 2008, Enterprise completed its second drop down transaction by contributing partnership interests in three midstream energy companies to Duncan Energy Partners in a transaction valued at $730 million. Duncan Energy acquired a 51 percent membership interest in Enterprise Texas Pipeline LLC; a 51 percent general partnership interest in Enterprise Intrastate LP; and a 66 percent general partnership interest in Enterprise GC LP. In aggregate, these companies own more than 8,000 miles of natural gas pipelines with 5.6 billion cubic feet per day ("Bcf") of capacity; a leased natural gas storage facility with 4.4 Bcf of storage capacity; more than 1,000 miles of natural gas liquids ("NGL") pipelines; approximately 18 million barrels of leased NGL storage capacity; and two NGL fractionators with a combined fractionation capacity of 87 thousand barrels per day. As consideration, Enterprise received $280.5 million in cash and 37.3 million of Class B units of Duncan Energy, having a market value of $449.5 million. The Class B units issued will automatically convert to common units of Duncan Energy on a one-to-one basis on February 1, 2009. |
| 2008 | October 2008,increased the current quarterly cash distribution rate to partners to $0.5225 per common unit, a 6.6% increase over the $0.4825 per unit quarterly distribution paid with respect to the third quarter of 2007. |
| 2008 | August 2008, Enterprise, TEPPCO, and Oiltanking Holding Americas formed a joint venture to design, construct, own and operate a new Texas offshore crude oil port and pipeline system to facilitate delivery of waterborne crude oil to refining centers along the upper Texas Gulf Coast. The Texas Offshore Port System (“TOPS”) project would include an offshore port, two onshore storage facilities with approximately 5.1 million barrels per day (BPD) of crude oil with expandable capacity. An efficient alternative to offshore lightering and inland dock operations, the project involves construction of a deepwater port located approximately 36 miles offshore from Freeport, Texas, and an onshore distribution and storage system. Located in about 115 feet of water, the deepwater port will feature two single-point mooring buoys that will essentially serve as floating docks for the vessels and will be able to offload crude oil at rates up to 100,000 barrels per hour. A subsea pipeline will connect the buoys to the onshore distribution system near Freeport. The initiative is scheduled to begin service in the fourth quarter of 2010. |
| 2008 | October 2008, , increased the current quarterly cash distribution rate to partners to $0.5225 per common unit, a 6.6% increase over the $0.4825 per unit quarterly distribution paid with respect to the third quarter of 2007. |
| 2008 | August 2008, acquired the remaining 25.8 percent interest in Dixie Pipeline Company and Dixie Terminals and Storage Company from BP, bringing current ownership level to 100 percent. The Dixie pipeline system includes a 1,300-mile pipeline ranging in size from six inches to 12 inches in diameter that delivers propane to seven states throughout the Gulf Coast and southeastern United States. |
| 2008 | July 2008, increased the current quarterly cash distribution rate to partners to $0.515 per common unit, a 6.7% increase over the $0.4825 per unit quarterly distribution paid with respect to the second quarter of 2007. |
| 2008 | May 2008, Enterprise, TransCanada and Quicksilver Gas Services entered into a Memorandum of Understanding (MOU) to construct a natural gas pipeline north of the Piceance Basin in Colorado. The Pathfinder Gas Pipeline project is designed to be completed in two phases. Phase I is designed to provide initial service from Enterprise's gas processing facility in Meeker, CO, through the Wamsutter area of Wyoming to interconnect with Northern Border Pipeline. Phase II of the project would extend the pipeline to add service from Northern Border to both the Great Lakes Gas Transmission System and TransCanada's Canadian Mainline pipeline system at Emerson, Manitoba. |
| 2008 | January 2008, increased the current quarterly cash distribution rate to partners to $0.50 per common unit, a 7% increase over the $0.4675 per unit quarterly distribution declared for the fourth quarter of 2006. |
| 2007 | December 2007, received international recognition for the partnership's work on the record-setting Independence Project. The Excellence in Project Integration Award was presented at the 2007 International Petroleum Technology Conference. |
| 2007 | December 2007, announced special unitholder meeting to be held on January 29, 2008 for unitholders of record on December 20, 2007. Unitholders will be asked to consider and vote upon the terms of the Enterprise Products 2008 Long-Term Incentive Plan. |
| 2007 | December 2007, executed long-term contract with Marathon Oil Company to provide a range of midstream services, including natural gas gathering, compression, treating and processing, for Marathon's natural gas production in the Piceance Basin of northwest Colorado. Enterprise will construct approximately 50 miles of new gathering lines to connect Marathon's multi-well drilling sites, to the partnership's 48-mile, 36-inch Piceance Creek Gathering System. |
| 2007 | November 2007, formed joint venture with the Jicarilla Apache Nation to own and operate natural gas gathering assets located on and near Jicarilla Apache reservation lands. Enterprise will contribute 545 miles of gathering lines, related gathering assets and 40 MMcf/d of redelivery and natural gas processing capacity through its San Juan Gathering System. The Jicarilla Apache Nation will contribute rights of access and use of reservation lands for operation and expansion of the joint venture gathering system, which will be operated by Enterprise. |
| 2007 | November 2007, entered agreement with Chevron to provide Midstream energy services. Enterprise will transport natural gas through its 48-mile, 36-inch diameter Piceance Creek Gathering system to the Meeker natural gas processing facility, originating from Chevron's 33,000 acre Western Slope development area in Garfield, CO. Enterprise will also receive Chevron's mixed NGLs extracted at Meeker and utilize the flexibility of its integrated midstream network, to provide purity products to Chevron. |
| 2007 | November 2007, natural gas volumes at the Independence Hub platform reached 900 million cubic feet per day. All fifteen initial wells are online. Initial volumes began flowing into Independence Hub in July 2007. |
| 2007 | October 2007, increased the current quarterly cash distribution rate to partners to $0.49 per common unit, a 6.5% increase over the $0.46 per unit quarterly distribution paid with respect to the third quarter of 2006. |
| 2007 | October 2007, Enterprise began processing natural gas at its Meeker cryrogenic facility located in Colorado's Piceance Basin. This state-of-the-art facility can process up to 750 million cubic feet per day of natural gas and is capable of extracting up to 35,000 barrels per day of natural gas liquids. |
| 2007 | August 2007, Enterprise and Questar Pipeline entered into a Memorandum of Understanding to develop a new natural gas pipeline hub in the Rockies. The White River Hub would be a header system owned equally by the two companies and would have the capacity to transport more than 2.5 billion cubic feet per day and provide hub-related services for natural gas producers, marketers and purchasers in the area. The facilities would connect Enterprise's natural gas processing complex near Meeker, CO, with up to six interstate pipelines. |
| 2007 | July 2007, Enterprise and TEPPCO Partners announced through their Jonah Gas Gathering Company joint venture, the completion of installation of 67,500 horsepower of compression at the Bridger Station in Sublette County, Wyoming with final stages of compression underway. The additional compression, along with pipeline looping that became operational in December 2006, increased the capacity of the Jonah Gas Gathering system to 2 billion cubic feet per day. |
| 2007 | July 2007, Michael A. Creel was elected president and chief executive officer in addition to his role as director of the general partner. Dr. Ralph S. Cunningham resigned as interim president and chief executive officer of the general partner. W. Randall Fowler was elected chief financial officer and promoted to executive vice president. |
| 2007 | July 2007, increased the current quarterly cash distribution rate to partners to $0.4825 per common unit, a 6.6% increase over the $0.4525 per unit quarterly distribution paid with respect to the second quarter of 2006. |
| 2007 | June 2007, Enterprise announced the completion of the expansion of its import/export terminal at the Houston Ship Channel, effectively doubling the offloading capacity from 240 thousand barrels per day (MBPD) to 480 MBPD and adding the flexibility to simultaneously unload product from two vessels or two separate products from the same vessel. |
| 2007 | June 2007, Robert G. Phillips resigned as a director, president and chief executive officer of Enterprise's general partner. Dr. Ralph S. Cunningham was elected to serve as interim president and chief executive officer in addition to his role as a director of the general partner. |
| 2007 | April 2007, increased the current quarterly cash distribution rate to partners to $0.475 per common unit, a 6.7% increase over the $0.445 per unit quarterly distribution paid with respect to the first quarter of 2006. |
| 2007 | March 2007, Independence Hub production platform was successfully installed at its deepwater site in the Mississippi Canyon area of the eastern Gulf of Mexico and began earning demand revenues. |
| 2007 | January 2007, IPO of Duncan Energy Partners, L.P. (NYSE: DEP) of 14,950,000 common units priced at $21.00 per common unit. Duncan Energy Partners was formed to own interests in certain midstream assets of Enterprise and may, from time to time, acquire interests in midstream assets from affiliates of Enterprise or, under certain circumstances, from third parties. |
| 2007 | January 2007, increased the current quarterly cash distribution rate to partners to $0.4675 per common unit, a 6.9% increase over the $0.4375 per unit quarterly distribution paid with respect to the fourth quarter of 2005. |
| 2006 | December 2006, Enterprise affiliate, Enterprise Gas Processing, LLC, purchased Piceance Creek Pipeline, LLC, from EnCana Oil & Gas Inc. The assets of Piceance Creek Pipeline, LLC consist primarily of a recently constructed 48-mile, 36-inch diameter natural gas gathering pipeline in the Piceance Basin of northwest Colorado. As part of the transaction, EnCana signed a long term, fixed-fee gathering contract and dedicated significant production to the system for the life of the associated lease holdings. |
| 2006 | December 2006, Enterprise substantially completed its South Texas corridor strategy which involved a combination of pipeline acquisitions, new pipeline construction and upgrades to existing assets to provide producers and consumers of NGLs along the Texas Gulf Coast with significantly enhanced access to North America's largest NGL market hub at Mont Belvieu, Texas. |
| 2006 | November 2006, Enterprise and TEPPCO Partners, L.P. announced through their Jonah Gas Gathering Company joint venture, that a new pipeline looping project, constructed as part of the Phase V expansion of the Jonah Gas Gathering System, was put in service. The pipeline looping project is the first segment of the Phase V expansion and includes 75-miles of 36-inch diameter pipe and 12 miles of 24-inch diameter pipe that transport natural gas from the Jonah and Pinedale fields to processing plants and interstate pipelines near Opal, Wyoming. |
| 2006 | November 2006, Enterprise affiliate, Enterprise Gas Processing, LLC, entered into a 30-year agreement with ExxonMobil Gas & Power Marketing Company to provide gathering, compression, treating and conditioning services for natural gas produced as part of a development program planned by ExxonMobil in the Piceance Basin of Colorado. |
| 2006 | November 2006, Enterprise affiliate, Enterprise Texas Pipeline L.P., will extend its intrastate natural gas pipeline system with the construction of a new 178-mile pipeline that will provide up to 1.1 billion cubic feet per day (Bcfd) of takeaway capacity for natural gas production in the growing Barnett Shale area of North Texas. The new Enterprise Sherman Extension is supported by long-term contracts with Devon Energy Corporation, the largest producer in the Barnett Shale area, and significant indications of interest from leading producers and gatherers in the basin, as well as shippers on Enterprise's Texas intrastate pipeline system. The Sherman Extension will be comprised of a 30 and 36-inch diameter pipeline originating at a central delivery point on Enterprise's Texas intrastate pipeline system near Morgan Mill, Texas and will extend through the center of the current Barnett Shale development area to Sherman, Texas. |
| 2006 | October 2006, Enterprise announced that its general partner, Enterprise Products GP, LLC, elected Rex Ross and Charles M. (Charlie) Rampacek to its Board of Directors effective October 2006. |
| 2006 | October 2006, increased the current quarterly cash distribution rate to partners to $0.46 per common unit, a 7% increase over the $0.43 per unit quarterly distribution paid with respect to the third quarter of 2005. |
| 2006 | October 2006, signed definitive agreements with producers to construct, own and operate an oil export pipeline to provide firm gathering services from the BHP Billiton-operated Shenzi field located in the prolific South Green Canyon area of the central Gulf of Mexico. The Shenzi oil export pipeline will originate at the Shenzi Field located in 4,300 feet of water at Green Canyon Block 653, approximately 120 miles off the coast of Louisiana. The 83-mile, 20-inch diameter pipeline will have the capacity to transport up to 230,000 barrels per day of crude oil and will connect the field to the Cameron Highway Oil Pipeline and Poseidon Oil Pipeline systems at Enterprise's Ship Shoal 332B junction platform. |
| 2006 | August 2006, Enterprise subsidiary, Mid-America Pipeline Company LLC, executed new long-term agreements with all but one of its current shippers on the Rocky Mountain Pipeline System pursuant to the terms and conditions of Mid-America's open season tariff that was accepted by the Federal Energy Regulatory Commission (FERC). Under the terms of the agreements, shippers have committed to transport all of their current and future natural gas liquids production from the Rockies through Mid-America to either the Hobbs fractionator or to Mont Belvieu, Texas via the Seminole pipeline system for a minimum of 10 years and up to a maximum of 20 years. |
| 2006 | August 2006, Enterprise and TEPPCO Partners, L.P. announced a joint venture through their respective subsidiaries in which they will be partners in Jonah Gas Gathering Company. In connection with the joint venture, the parties intend to continue the Phase V expansion, which is expected to increase the system capacity of the Jonah Gas Gathering System from 1.5 billion cubic feet per day (bcfd) to 2.3 bcfd and to significantly reduce system operating pressures, which is anticipated to lead to increased production rates and ultimate reserve recoveries. |
| 2006 | July 2006, announced that it is expanding its leading position in the Texas intrastate natural gas market by signing long-term agreements with CenterPoint Energy Resources Corp. (CERC) to provide firm natural gas transportation and storage services to its natural gas utility, primarily in the Houston metropolitan area. Enterprise will provide CenterPoint Energy with up to fourteen billion cubic feet (bcf) per year of natural gas service beginning in April 2007. |
| 2006 | July 2006, increased the current quarterly cash distribution rate to partners to $0.4525 per common unit, a 7.7% increase over the $0.42 per unit quarterly distribution paid with respect to the second quarter of 2005. |
| 2006 | July 2006, acquired certain natural gas gathering systems and related gathering and processing contracts from Cerrito Gathering Company, Ltd. The Cerrito gathering systems are comprised of approximately 484 miles of pipeline (including approximately 172 miles of pipe currently under lease from Enterprise) and 31,000 horsepower compression, and are connected to over 1,450 wells with a n aggregate volume of over 100 million cubic feet per day (MMcfd) of rich natural gas sourced from the Olmos and Wilcox Trends in South Texas. |
| 2006 | April 2006, increased the current quarterly cash distribution rate to partners to $0.445 per common unit, an 8.5% increase over the $0.41 per unit quarterly distribution paid with respect to the first quarter of 2005. |
| 2006 | April 2006, completed the acquisition of the Pioneer silica gel natural gas processing plant located near Opal, Wyoming, for $38 million. |
| 2006 | February 2006, announced that one of its affiliates executed a letter of intent with TEPPCO Partners, L.P. to pursue a joint venture to own and construct an expansion of the Jonah Gas Gathering System. The Jonah system, located in the Green River Basin of southwestern Wyoming, gathers and transports natural gas produced form the prolific Jonah and Pinedale fields to natural gas processing plants and major interstate pipelines that deliver the natural gas to end-use markets. The additional expansion will increase the capacity of the Jonah system from 1.5 billion cubic feet per day (Bcfd) to 2 Bcfd and will significantly reduce system operating pressures, which should result in increases in both production rates and ultimate reserve recoveries. |
| 2006 | February 2006, the general partner of Enterprise, Enterprise Products GP, LLC, announced the election of Stephen L. Baum, Richard H. Bachmann, Michael A. Creel, Dr. Ralph S. Cunningham and W. Randall Fowler as directors and the resignations of O.S. "Dub" Andras, W. Matt Ralls and Richard S. Snell from its board of directors. |
| 2006 | January 2006, announced that one of its affiliates entered into a long-term natural gas processing contract with EnCana Oil and Gas Inc., an affiliate of EnCana Corporation. Under the terms of the agreement, Enterprise will have the right to process up to 1.3 billion cubic feet per day of EnCana's natural gas production in the Piceance basin are of western Colorado. |
| 2006 | January 2006, announced, along with TEPPCO Partners, L.P. the execution of a letter of intent by an affiliate of TEPPCO to sell its ownership in the Pioneer silica gel natural gas processing plant located in Opal, Wyoming, to an affiliate of Enterprise. The terms of the letter of intent provided that Enterprise would purchase the existing Pioneer plant, together with all of Jonah Gas Gathering Company's rights to process natural gas originating from the Jonah and Pinedale fields. Enterprise would immediately begin construction to expand the capacity of the facility from 275 million cubic feet per day (MMcfd) to 550 MMcfd. |
| 2006 | January 2006, increased the current quarterly cash distribution rate to partners to $0.4375 per common unit, a 9.4% increase over the $0.40 per unit quarterly distribution paid with respect to the fourth quarter of 2004. |
| 2006 | January 2006, announced agreements with the Atwater Valley Producers Group to increase both the processing capacity of the Independence Hub platform and the transportation capacity of the Independence Trail Natural Gas Pipeline from 850 million cubic feet per day each to a total capacity of 1 billion cubic feet per day. |
| 2005 | December 2005, Enterprise's wholly-owned subsidiary, Petal Gas Storage, LLC placed in service an additional 2.4 billion cubic feet (Bcf) of working natural gas storage capacity at its Petal facility located near Hattiesburg, Mississippi. The new capacity is the result of the conversion of an existing brine storage cavern to natural gas storage service for approximately $15 million. Enterprise also announced that it commenced the development of a new natural gas storage cavern at its Petal facility that is expected to add an additional 5 Bcf of working gas storage capacity. |
| 2005 | November 2005, announced that the Board of Directors of its General Partner elected Dr. Ralph S. Cunningham to serve as Group Executive Vice President and Chief Operating Officer of the General Partner. |
| 2005 | October 2005, increased the current quarterly cash distribution rate to partners to $0.43 per common unit, an 8.9% increase over the $0.395 per unit quarterly distribution paid with respect to the third quarter of 2004. |
| 2005 | July 2005, increased the current quarterly cash distribution rate to partners to $0.42 per common unit, a 12.8% increase over the $0.3725 per unit quarterly distribution declared for the second quarter of 2004. |
| 2005 | June 2005, expanded its integrated network of NGL assets in the Permian Basin and Mid-Continent region of the United States with the $144 million purchase of NGL underground storage and terminalling assets from a subsidiary of Ferrellgas Partners, L.P. |
| 2005 | June 2005, announced that O.S. "Dub" Andras elected to retire as Vice Chairman of the General Partner and will continue to serve on the Board of Directors of Enterprise's General Partner as a non-executive director. |
| 2005 | June 2005, announced plans to proceed with the construction of a new NGL fractionator that will be located at the interconnection of the Mid-America Pipeline System (MAPL) and the Seminole Pipeline System near Hobbs, New Mexico. The new fractionator will be designed to handle up to 75,000 barrels per day of mixed NGLs which will be sourced from current and future processing plants located in the Rocky Mountain region, the Permian Basin, and in the Panhandle area of Texas and Oklahoma on MAPL. |
| 2005 | April 2005, increased the current quarterly cash distribution rate to partners to $0.41 per common unit, a 10% increase over the rate paid in the second quarter of 2004 and an 82% increase since the IPO in July 1998. |
| 2005 | April 2005, Enterprise announced first deliveries of crude oil to major refining markets on the Texas Gulf Coast through the recently completed Cameron Highway Oil Pipeline System. The pipeline has the capacity to deliver up to 600 MBPD of crude oil to the United States' largest refining complex on the Texas Gulf Coast. The first five wells have been connected and Cameron Highway is delivering approximately 100 MBPD of crude oil. Production is expected to ramp up throughout 2005 and 2006 as additional wells are completed. |
| 2005 | February 2005, Enterprise acquired additional interests in the Dixie Pipeline Company, increasing its total interest from 20% to 66% in separate transactions totaling $71 million. |
| 2005 | January 2005, Enterprise increased its ownership interest in K/D/S Promix to 50% and announced that it would expand its natural gas liquids fractionator at Mont Belvieu by 15 MBPD. |
| 2005 | January 2005, Enterprise announced that the Poseidon Oil Pipeline began receiving crude oil from the Front Runner and Tarantula fields through two new laterals built by Poseidon Oil Pipeline Company, L.L.C., a joint venture in which the partnership owns a 36% interest. |
| 2005 | January 2005, Enterprise acquired natural gas gathering and processing companies from El Paso Corporation that own an 80% interest in 3 gathering systems and a 75% interest in the Indian Springs gas processing facility, all located in Polk County, Texas for $74.5 million. |
| 2004 | November 2004, announced agreements with Atwater Valley Producers Group, consisting of five independent E&P companies, to construct a deepwater hub platform and a pipeline that will process and transport up to 850 million cubic feet per day of natural gas from the eastern Gulf of Mexico. Enterprise will design, construct, install and own, and Anadarko will operate Independence Hub, a 105-ft. semi-submersible platform located on Mississippi Canyon block 920 for approximately $385 million. The platform is designed to process production from six anchor fields and has the capacity to connect 10 additional fields. Additionally, Enterprise will own, install and operate Independence Trail, a 24-inch, 140-mile pipeline at an estimated cost of $280 million that will redeliver production from the platform into Tennessee Gas Pipeline. |
| 2004 | Also as part of the merger financing, Enterprise Products Operating L.P. completed four cash tender offers for GulfTerra's four series of senior subordinated and senior notes outstanding. As of the expiration time of the offers, Enterprise had received tenders of 99.3% of the notes outstanding aggregating $915.1 million. |
| 2004 | As part of the financing of the merger, Enterprise Products Operating L.P. issued $2.0 billion of senior unsecured notes in a Rule 144A private placement. The net proceeds of approximately $1.98 billion were used to reduce the amount of debt outstanding under Enterprise Operating's $2.25-billion, 364-day revolving acquisition credit facility that was used to partially fund the merger with GulfTerra on September 30. |
| 2004 | Enterprise completed its merger with GulfTerra effective September 30, creating one of the largest publicly traded energy partnerships with an enterprise value of approximately $14 billion. In related transactions, Enterprise purchased approximately 13.8 million GulfTerra limited partner units for $500 million from El Paso Corporation and the remaining 57.8 million common units of GulfTerra were converted into approximately 104.5 million Enterprise common units based on an exchange rate of 1.81 Enterprise units for each GulfTerra unit. Enterprise also acquired nine natural gas processing plants and related facilities located in South Texas from El Paso Corporation for $156 million. |
| 2004 | Fitch Ratings initiated coverage and assigned a 'BBB-' investment grade rating to Enterprise Products Operating L.P.'s outstanding $1.65 billion senior unsecured notes. The Rating Outlook is Stable. |
| 2004 | Enterprise and GulfTerra unitholders approved the merger in separate meetings on July 29. At the Enterprise meeting, 99.7 percent of the total common units voted were in favor of the merger, and at the GulfTerra unitholder meeting, 98.0 percent of the common units voted were in favor of the merger. Under the terms of the merger, GulfTerra unitholders will receive 1.81 Enterprise common units in exchange for each GulfTerra unit. |
| 2004 | Completed two public offerings totaling 35.5 million new common units to limited partners with net proceeds aggregating $695 million that was used by Enterprise to repay debt and to finance various business acquisitions and investments, including a portion of the GulfTerra merger transaction. |
| 2003 | Announced jointly with GulfTerra Energy Partners, L.P. and El Paso Corporation the execution of definitive agreements to merge Enterprise and GulfTerra to form the second largest publicly traded energy partnership with an enterprise value of approximately $13 billion. Completed the first step of this transaction on December 15, 2003, by purchasing a 50% interest in GulfTerra's General Partner for $425 million in cash. |
| 2003 | Announced that the Board has approved the implementation of a cash distribution reinvestment plan for the Company's common limited partner units. Through the plan, which is targeted to be in place by the August 2003 cash distribution payment, Enterprise is authorized to issue up to 5,000,000 common units. |
| 2003 | Acquired Quest Transmission Ltd. for $14.4 million. The primary asset is a 67-mile, 8-inch pipeline system with a 2.5-mile lateral that transports high-purity isobutane from Mont Belvieu to Port Neches and Port Arthur, Texas. |
| 2003 | Completed the expansion of the Lou-Tex NGL pipeline, which increased the capacity by 40% to 70,000 BPD from 50,000 BPD for only $2 million. This bi-directional pipeline with storage on both ends of the system is the only pipeline that effectively connects NGL supplies and markets in Louisiana with the Texas Gulf Coast. |
| 2003 | Purchased the remaining 50% interest in the EPIK NGL export terminal from Idemitsu LPG USA Corporation for $19 million. The terminal has the capacity to load refrigerated propane and butane at rates of 5,000 Bbls/hour, which are the highest loading rates for any NGL export terminal in the U.S. Enterprise now owns 100% of this export terminal. |
| 2003 | Completed two private placements of senior notes: (1) $350 million of 6.375% 10-year notes, and (2) $500 million of 6.875% 30-year notes. The proceeds from the two offerings, combined with the proceeds from the equity offerings in October 2002 and January 2003, were used to pay off the 364-day term loan that was used to temporarily finance the Mid-America and Seminole acquisition in July 2002. |
| 2003 | Completed two public offerings totaling 26.6 million new common units to limited partners with net proceeds in the aggregate of $519 million used by Enterprise to repay debt. The total proceeds from these two offerings, which were issued in January and May, combined with the proceeds from the October 2002 offering, was $702 million. |
| 2002 | Amended the partnership agreement to eliminate the general partner's incentive distribution right to receive 50% of total cash distributions with respect to quarterly distributions that exceed $0.392 per unit. This effectively caps the general partner's incentive rights at 25%, and there was no consideration paid to the general partner to give up this right. |
| 2002 | Acquired four NGL terminals and certain wholesale propane supply and sales contracts from Cornerstone Propane Partners, L.P. for $11.5 million in cash. The terminals, which are located in Rocklin and Bakersfield, California, Reno, Nevada and Albertville, Alabama, store approximately 2.6 million gallons of NGLs. |
| 2002 | Completed a public offering in October of 9.8 million limited partner units with net proceeds of approximately $182 million being used to repay a portion of the debt outstanding that was incurred to finance the purchase of ownership interests in the Mid-America and Seminole pipelines. It was the first public offering of new common units since the IPO in July 1998. |
| 2002 | Announced plans jointly with Shell Gas Transmission, LLC to construct and install a new 41-mile, 16-inch natural gas pipeline in the Western Gulf of Mexico to transport natural gas from the deepwater Gunnison development operated by Kerr-McGee Corp. The new pipeline, which connects with the Stingray Pipeline, was completed in December 2003, and has a capacity of 275 million cubic feet per day. The pipeline will be owned by Triton Gathering LLC, which owns gathering lines that connect to the Stingray Pipeline. Triton and Stingray are jointly owned by Shell and Enterprise. |
| 2002 | Acquired a 98% ownership interest in the Mid-America pipeline system and a 78% interest in the Seminole pipeline system from The Williams Companies, Inc. for approximately $1.2 billion in cash. Mid-America is a 7,226-mile NGL pipeline system connecting the Hobbs hub located on the Texas-New Mexico border with supply regions in the Rocky Mountains and the Midwest. Seminole is a 1,281-mile pipeline system that interconnects with the Mid-America pipeline system at Hobbs and transports mixed NGLs to Mont Belvieu, Texas. In 2001, average transportation volumes were 641,000 and 241,000 barrels per day on the Mid-America and Seminole pipelines, respectively. |
| 2002 | Acquired 100% of the Toca-Western natural gas processing plant and natural gas liquids fractionator from Western Gas Resources for $32.5 million in cash. The gas processing facility has a capacity of 160 million cubic feet per day and the fractionator can separate 14,200 barrels per day of mixed NGLs into propane, normal butane, isobutane and natural gasoline. |
| 2002 | Entered into a long-term agreement with Dynegy Liquids Marketing and Trade and Venice Energy Services Company, L.L.C. ("VESCO") to provide VESCO's natural gas liquids production with access to additional markets on the Louisiana and Texas Gulf Coast by utilizing our integrated value chain. |
| 2002 | Acquired a 12.5% ownership interest in an NGL fractionator from an affiliate of ChevronTexaco. The fractionator is located at the Mont Belvieu complex and has the capacity to separate 210,000 barrels per day of mixed NGLs into ethane, propane, normal butane, isobutane and natural gasoline. Enterprise now owns 75% of this facility and is operator. |
| 2002 | Announced a two-for-one split for each class of the company's limited partner units that was completed on May 15, 2002, affecting holders of record on April 30, 2002. |
| 2002 | Acquired various propylene fractionation assets and certain inventories of propylene and propane from Diamond-Koch for approximately $239 million in cash. The acquisition includes a 66.7% interest in a polymer-grade propylene fractionation facility located in Mont Belvieu, Texas, a 50% interest in a polymer-grade propylene export terminal located on the Houston Ship Channel and various distribution pipelines and related equipment. The Mont Belvieu facility has capacity to produce approximately 41,000 barrels per day of polymer-grade propylene. |
| 2002 | Acquired a natural gas liquids and petrochemical liquids storage business from Diamond-Koch for $130 million in cash. The assets include 25 salt dome storage caverns at Mont Belvieu, Texas with a useable capacity of 64 million barrels, local distribution pipelines and related equipment. |
| 2001 | Acquired Acadian Gas LLC from an affiliate of Shell Oil Company for $244 million in cash. Acadian's assets consist of three Louisiana intrastate pipeline systems with over 1,000 miles of pipeline with a combined capacity of over one billion cubic feet per day. |
| 2001 | Acquired an NGL storage facility from Equistar Chemicals, LP for approximately $3.4 million. The salt dome storage cavern, which is located near Enterprise's complex in Mont Belvieu, Texas, has a capacity of one million barrels. The purchase also includes adjacent acreage which would support the development of an additional storage cavern. |
| 2001 | Acquired ownership interests in five natural gas pipeline and gathering systems in the central Gulf of Mexico for $112 million. These systems total approximately 725 miles of pipeline with an aggregate capacity of approximately 2,850 million cubic feet per day. |
| 2000 | Completed construction of Lou-Tex NGL Pipeline. |
| 2000 | Commenced operations of Baton Rouge Propylene Concentrator LLC, a joint venture between affiliates of ExxonMobil Chemical Company and Enterprise. The unit upgrades refinery-grade propylene produced by ExxonMobil Chemical and others into chemical-grade propylene, a basic building block petrochemical used in plastics, synthetic fibers, and foams. The facility has the capacity to produce 1.5 billion pounds (680,000 metric tons) per year of chemical-grade propylene. |
| 2000 | Commenced operations at the Neptune Natural Gas Processing Plant. Neptune, with the capacity to process 300 million cubic feet per day of natural gas, is located in St. Mary Parish, La., and processes natural gas that is transported on the Nautilus pipeline system. Enterprise operates the plant and has a 66 percent ownership interest, with Marathon Oil Company holding the remaining 34 percent interest. |
| 2000 | Completed the purchase of Lou-Tex Propylene Pipeline, a 50,000-barrel-per-day , 263-mile, 10-inch liquids pipeline that links major petrochemical and refinery complexes in Louisiana and Texas. |
| 1999 | Completed construction of a refrigerated export facility located at Enterprise's Houston Ship Channel terminal, with 5,000 barrels per hour of loading capacity. |
| 1999 | Acquired an additional 25% interest in a natural gas liquids fractionator from Kinder Morgan Energy Partners for approximately $45 million in cash and assumed debt. The fractionator, which is located at Mont Belvieu, Texas has a capacity to separate 210,000 barrels per day of natural gas liquids. Enterprise now owns 62.5% of this facility. |
| 1999 | Completed the expansion of the Pascagoula, Mississippi Natural Gas Processing Plant. |
| 1999 | Acquired Tejas Natural Gas Liquids from an affiliate of Shell Oil Company for approximately $375 million in cash and convertible Special partnership units. Executed a 20-year natural gas processing agreement with Shell for rights to process all of Shell's natural gas production from the Gulf of Mexico. |
| 1999 | Formed a joint venture with Exxon Chemical to construct a propylene concentrator in Baton Rouge, Louisiana with 22,500 barrels per day of production capacity. Construction was completed in mid-2000. |
| 1999 | Agreed to acquire Lou-Tex propylene pipeline from an affiliate of Shell Chemical. The pipeline transports propylene from Sorrento, Louisiana to Mont Belvieu with 30,000 barrels per day of capacity. |
| 1999 | Completed construction of Baton Rouge NGL fractionator with 60,000 barrels per day of capacity. |
| 1999 | Completed construction of Wilprise NGL pipeline in Louisiana. |
| 1999 | Completed construction of Tri-States NGL pipeline in Alabama, Mississippi and Louisiana. |
| 1998 | Issued 12,000,000 limited partner common units in an initial public offering. The net proceeds of $247.2 million were reinvested in the company to fund project developments and future acquisitions. Enterprise Products Partners L.P. is listed on the New York Stock Exchange under ticker symbol "EPD." |
| 1997 | Completed construction of propylene splitter II with 14,700 barrels per day of capacity. |
| 1996 | Completed expansion of Mont Belvieu NGL fractionation capacity for the 4th time to 210,000 barrels per day. |
| 1994 | Completed construction of Belvieu Environmental Fuels' MTBE plant with affiliates of Mitchell Energy and Sun Oil Company as partners. |
| 1992 | Completed construction of isomerization unit III with 44,000 barrels per day of production capacity and expansion of isomerization unit I capacity to 36,000 barrels per day. |
| 1991 | Completed expansion of isomerization unit II to 36,000 barrels per day of production capacity. |
| 1991 | Completed construction of 16-inch pipeline from Mont Belvieu storage complex to Houston Ship Channel import/export terminal. |
| 1985 | Completed expansion of Seminole fractionation unit, increases gross capacity to 130,000 barrels per day. |
| 1985 | Strategic joint venture partners invested in an initial 43.75% interest in the Mont Belvieu fractionation facility. |
| 1983 | Completed construction of NGL import/export facility on the Houston Ship Channel. |
| 1982 | Completed construction of the Seminole NGL fractionator at Mont Belvieu with 60,000 barrels per day of capacity. |
| 1981 | Completed construction of Isomerization units I and II, each with 13,000 barrels per day of production capacity. |
| 1980 | Completed construction of Lake Charles, Louisiana and Bayport, Texas propylene pipelines. |
| 1980 | Acquired Wanda Petroleum Company (pipeline and storage assets) from Dow Chemical. |
| 1980 | Completed construction of the West Texas natural gas liquids fractionator at Mont Belvieu with 35,000 barrels per day of capacity. |
| 1979 | Completed construction of Chunchula and Sorrento NGL pipelines. |
| 1979 | Completed construction of a natural gas liquids fractionator at Petal, Mississippi. |
| 1979 | Completed construction of Mont Belvieu storage and pipeline complex. |
| 1978 | Competed construction of Propylene Splitter I with production capacity of 5,200 barrels per day, subsequently expanded to 16,200 barrels per day. |
| 1972 | Completed construction of pipelines at Mont Belvieu, Texas. |
| 1968 | Enterprise formed as a wholesale marketer of natural gas liquids. |
