This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Enterprise Reports Results For The Third Quarter Of 2013

“Record volumes for our liquids pipelines, LPG export facility and NGL fractionators contributed to Enterprise’s strong performance in the third quarter of 2013 with $1.2 billion of gross operating margin, which is a near record in a quarter that is seasonally one of our weakest,” said Michael A. Creel, Chief Executive Officer of Enterprise’s general partner. “New assets placed into service during the past twelve months more than offset lower gross operating margin from our natural gas processing and crude oil marketing business due to lower margins. In the third quarter of 2013, volumes transported by our NGL, crude oil, refined products and petrochemical pipelines increased by 845,000 barrels per day, or 20 percent, to a record 5.1 million barrels per day. Our crude oil pipelines transported a record 1.6 million barrels per day in the third quarter of 2013, a 41 percent increase compared to the same quarter last year, while our NGL pipelines transported a record 2.9 million barrels per day, a 16 percent increase compared to the third quarter of 2012. These increases in pipeline volumes were primarily driven by NGL and crude oil production growth from the Eagle Ford shale development in South Texas, the expansion of our LPG export terminal and the completion of the Seaway pipeline reversal.”

“During the third quarter of 2013, we completed construction and began operations on major assets totaling $415 million of capital investment including our seventh NGL fractionator at Mont Belvieu and our Eagle Ford crude oil pipeline joint venture with Plains All American Pipeline. For the remainder of 2013, we expect to complete construction and begin commercial activities related to growth capital projects representing over $900 million of investment, net to our interest. These projects include:

  • our eighth NGL fractionator at Mont Belvieu;
  • the Texas Express NGL pipeline and related gathering systems; and
  • the extension of the Seaway crude oil pipeline from Jones Creek to our ECHO storage facility.”

“In 2014, we are scheduled to complete construction of energy infrastructure projects totaling $4.5 billion of investment. These projects will provide new sources of distributable cash flow for our partnership over the next several years,” stated Creel.

2 of 13

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,880.36 -31.75 -0.19%
S&P 500 1,970.07 +0.12 0.01%
NASDAQ 4,462.9020 +20.2040 0.45%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs