Affiliates of Enterprise’s General Partner Purchase $100 Million of Enterprise Common Units
January 04 2016 - 5:16PM
Business Wire
Enterprise Products Partners L.P. (“Enterprise” NYSE: EPD)
announced today that affiliates of its general partner and
privately held Enterprise Products Company (“EPCO”) purchased a
total of 3,830,256 Enterprise common units for approximately $100
million, or $26.11 per unit. The purchase was executed through
Enterprise’s at-the-market (“ATM”) equity issuance program. EPCO
and its affiliates own approximately 34 percent of Enterprise’s
common units. Enterprise will use the proceeds from this
transaction to fund a portion of its growth capital investments and
for general company purposes.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the common units described herein
or any other securities. The purchase and sale described above were
made only by means of a prospectus and related prospectus
supplement, which are part of an effective registration
statement.
Enterprise Products Partners L.P. is one of the largest publicly
traded partnerships and a leading North American provider of
midstream energy services to producers and consumers of natural
gas, NGLs, crude oil, refined products and petrochemicals. Our
services include: natural gas gathering, treating, processing,
transportation and storage; NGL transportation, fractionation,
storage and import and export terminals; crude oil gathering,
transportation, storage and terminals; petrochemical and refined
products transportation, storage and terminals; and a marine
transportation business that operates primarily on the United
States inland and Intracoastal Waterway systems. The partnership’s
assets include approximately 49,000 miles of pipelines; 225 million
barrels of storage capacity for NGLs, crude oil, refined products
and petrochemicals; and 14 billion cubic feet of natural gas
storage capacity. Additional information regarding Enterprise can
be found on its website, www.enterpriseproducts.com.
This press release includes “forward-looking statements” as
defined by the Securities and Exchange Commission. All statements,
other than statements of historical fact, included herein that
address activities, events, developments or transactions that
Enterprise and its general partner expect, believe or anticipate
will or may occur in the future are forward-looking statements.
These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially
from expectations, including required approvals by regulatory
agencies, the possibility that the anticipated benefits from such
activities, events, developments or transactions cannot be fully
realized, the possibility that costs or difficulties related
thereto will be greater than expected, the impact of competition,
and other risk factors included in Enterprise’s reports filed with
the Securities and Exchange Commission. Readers are cautioned not
to place undue reliance on these forward-looking statements, which
speak only as of their dates. Except as required by law, Enterprise
does not intend to update or revise its forward-looking statements,
whether as a result of new information, future events or
otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20160104006514/en/
Enterprise Products Partners L.P.Randy Burkhalter, (713)
381-6812 or (866) 230-0745Investor RelationsorRick Rainey, (713)
381-3635Media Relations
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