Crude Oil ( ) Brent Crude ( ) Natural Gas ( ) S&P 500 ( ) PHLX Oil ( )
 September 21, 2015 - 6:00 PM EDT
Print Email Article Font Down Font Up
Enterprise Begins Service on Rancho II Pipeline

Enterprise Products Partners L.P. (NYSE:EPD) announced the start of service on its Rancho II pipeline between Sealy, Texas and the partnership’s ECHO terminal in southeast Houston. The 88-mile, 36-inch diameter pipeline will transport various grades of crude oil, condensate and processed condensate from the Permian Basin and the Eagle Ford Shale.

“The Rancho II pipeline is an integral part of Enterprise’s larger efforts to expand its crude oil and condensate network in Texas,” said Michael A. Creel, chief executive officer of Enterprise’s general partner. “Combined with our existing Eagle Ford assets and recently announced Midland-to-Sealy pipeline, Rancho II enhances our ability to provide crude oil and condensate from key producing areas with direct access to every refinery in Houston, Texas City, Beaumont and Port Arthur, as well as Enterprise’s marine facilities through our ECHO distribution system.”

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 and refined products transportation, storage and terminals; petrochemical transportation and services; 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.

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.

Enterprise Products Partners L.P.
Investor Relations
Randy Burkhalter, (713) 381-6812
Media Relations
Rick Rainey, (713) 381-3635

Source: Business Wire (September 21, 2015 - 6:00 PM EDT)

News by QuoteMedia