HOUSTON--(BUSINESS WIRE)--Jun. 7, 2012--
Enterprise Products Partners L.P. (NYSE: EPD) today announced that the
partnership’s Phase I Eagle Ford crude oil system has begun accepting
deliveries and commissioning the pipeline and delivery stations.
Originating in Wilson County, Texas and extending 147 miles to Sealy,
Texas, the 24-inch diameter crude oil pipeline has a capacity of 350,000
barrels per day (“BPD”) and provides Eagle Ford Shale producers with
improved access to the Gulf Coast refining complex.
Executive Vice President and Chief Operating Officer of Enterprise’s
general partner, A.J. “Jim” Teague, said, “Another impressive
performance by our employees and contractors allowed us to bring this
phase of the project on line in a safe and timely manner. Supported by
long-term volume commitments from shippers, this extension of our
integrated midstream network improves the ability of refineries to
access reliable and secure supplies of domestic crude oil while
facilitating continued development of the Eagle Ford Shale.”
A link to Enterprise’s Rancho pipeline at Sealy allows the Eagle Ford
crude oil system to reach the Gulf Coast infrastructure network,
including Enterprise’s ECHO crude oil storage facility under
construction in southeast Houston. Initial operation is on schedule for
July 2012, coinciding with the first deliveries of Eagle Ford Shale
crude oil into the Houston area. As an important hub for handling
growing domestic crude oil production, ECHO will ultimately provide
shippers with access to approximately 4 million BPD of refining capacity.
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. The partnership’s assets include
approximately: 50,600 miles of onshore and offshore pipelines; 190
million barrels of storage capacity for NGLs, petrochemicals, refined
products and crude oil; and 14 billion cubic feet of natural gas storage
capacity. Services include: natural gas gathering, treating, processing,
transportation and storage; NGL transportation, fractionation, storage,
and import and export terminaling; offshore production platform
services; crude oil and refined products transportation, storage and
terminaling; petrochemical transportation and storage; and a marine
transportation business that operates primarily on the United States
inland and Intracoastal Waterway systems and in the Gulf of Mexico.
Additional information is available online at 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 expects, believes
or anticipates will or may occur in the future, including anticipated
benefits and other aspects of such activities, events, developments or
transactions, are forward-looking statements. These
forward-looking statements are subject to risks and uncertainties that
may cause actual results to differ materially, 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 tax or other costs or
difficulties related thereto will be greater than expected, the impact
of competition and other risk factors included in the reports filed with
the Securities and Exchange Commission by Enterprise. 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.
Source: Enterprise Products Partners L.P.
Enterprise Products Partners L.P.
Randy Burkhalter, (713)
381-6812 or (866) 230-0745
Rainey, (713) 381-3635