Gross operating margin from Enterprise’s offshore crude oil pipeline business was $22 million for the third quarter of 2012 compared to $19 million for the third quarter of 2011. Total offshore crude oil pipeline volumes increased 13 percent to 293 MBPD in the third quarter of 2012 versus 259 MBPD in the same quarter of 2011.
The Offshore Pipelines & Services segment continues to be adversely impacted by lower volumes attributable to the federal offshore drilling moratorium in 2010 and 2011. In recent months, however, the rig count and drilling activity in the Gulf of Mexico is approaching pre-moratorium levels.
Petrochemical & Refined Products Services – Gross operating margin for the Petrochemical & Refined Products Services segment increased $36 million to $182 million for the third quarter of 2012 compared to $146 million for the third quarter of 2011. Gross operating margin from this segment for the third quarter of 2012 included a $24 million benefit from the settlement of certain litigation in the marine transportation services business.
The partnership’s propylene business reported gross operating margin of $55 million for the third quarter of 2012 compared to $37 million for the third quarter of 2011 primarily due to higher sales margins. Propylene fractionation volumes were 73 MBPD for the third quarter of 2012 compared to 74 MBPD in the third quarter of 2011. Related propylene pipeline volumes were 119 MBPD for the third quarter of 2012 compared to 125 MBPD for the same quarter in 2011.Gross operating margin for Enterprise’s octane enhancement and high-purity isobutylene business was $50 million for the third quarter of 2012 compared to $39 million for the third quarter of 2011 primarily due to higher sales margins and volumes. Total plant production volumes increased 1 MBPD to 19 MBPD for the third quarter of 2012 compared to the same quarter in 2011.
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