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.
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