Affiliates of Enterprise’s General Partner Purchase $100 Million of Enterprise Common Units
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160104006514/en/
Copyright Business Wire 2016
Source: Business Wire
(January 4, 2016 - 5:16 PM EST)
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