May 25, 2018 - 5:00 PM EDT
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Enterprise Conducts Open Season for West Texas Crude Oil System Expansion

HOUSTON

Enterprise Products Partners L.P. (NYSE: EPD) today announced a binding open season for expansion capacity on its Enterprise Crude Pipeline LLC (“ECPL”) West Texas System, which transports crude oil from points in New Mexico to the company’s terminal in Midland, Texas. The expansion of the West Texas System is designed to facilitate growing production of crude oil from the Delaware Basin in New Mexico by providing much-needed pipeline takeaway capacity.

The open season is seeking customer commitments for incremental capacity on the West Texas System from ECPL’s Lynch, Hobbs and Red Hills stations in Lea County, New Mexico, to the Midland terminal. At Midland, shippers will have access to storage and terminal services, as well as connectivity to multiple transportation alternatives such as trucking and pipeline infrastructure that offer access to various downstream markets, including the Gulf Coast. Service on the expanded West Texas System is expected to begin in the third quarter of 2018.

The Binding Open Season Commitment Period will begin May 25, 2018 at 4 p.m. CDT and continue until 5 p.m. CDT June 24, 2018. Additional details, including a Notice of Binding Open Season Commitment Period and the required form of Transportation Services Agreement, will be distributed to potential shippers who execute a Confidentiality Agreement. Requests for additional information and the Confidentiality Agreement may be directed to Michael Cisarik at (713) 381-6460 or [email protected].

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. Enterprise’s 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 50,000 miles of pipelines; 260 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 Products Partners L.P. 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 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 Products Partners L.P. 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 Products Partners L.P. does not intend to update or revise their forward-looking statements, whether as a result of new information, future events or otherwise.

Enterprise Products Partners L.P.
Randy Burkhalter, (713) 381-6812 or (866) 230-0745
Investor Relations
or
Rick Rainey, (713) 381-3635
Media Relations


Source: Business Wire (May 25, 2018 - 5:00 PM EDT)

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