Products

Enterprise Products Partners LP last week upped its stake in K/D/S Promix LLC to 50%, increasing its ownership in a fractionator in Napoleonville, LA, with the capacity to process up to 145,000 bbl/d of mixed natural gas liquids (NGLs) from processing plants on the Louisiana, Mississippi and Alabama Gulf Coast.

Enterprise Products Partners LP has upped its stake in K/D/S Promix LLC to 50%, increasing its ownership in a fractionator in Napoleonville, LA with the capacity to process up to 145,000 bbl/d of mixed natural gas liquids (NGLs) from processing plants on the Louisiana, Mississippi and Alabama Gulf Coast.

Drilling services company Cal Dive International Inc. has acquired a 20% interest in the planned deepwater Independence Hub LLC from Enterprise Products Partners LP for an undisclosed amount of money. Installation of the platform is scheduled for late 2006, and first natural gas production is expected in 2007.

Five independent U.S.-based producers have joined Enterprise Products Partners LP in an industry first to begin developing multiple ultra-deepwater natural gas discoveries in the largely untapped Eastern Gulf of Mexico planning area, with first production from a new platform expected by 2007. The gas production would be delivered into a new 850 MMcf/d Tennessee Gas Pipeline extension.

Five independent U.S.-based producers have joined Enterprise Products Partners LP in an industry first to begin developing multiple ultra-deepwater natural gas discoveries in the largely untapped Eastern Gulf of Mexico planning area, with first production from a new platform expected by 2007. The gas production would be delivered into a new 850 MMcf/d Tennessee Gas Pipeline extension.

Five independent U.S.-based producers have joined Enterprise Products Partners LP in an industry first to begin developing multiple ultra-deepwater natural gas discoveries in the largely untapped Eastern Gulf of Mexico planning area, with first production from a new platform expected by 2007. The gas production would be delivered into a new 850 MMcf/d Tennessee Gas Pipeline extension.

Enterprise Products Partners LP and GulfTerra Energy Partners LP are awaiting clearance by the Federal Trade Commission and satisfaction of other regulatory conditions to complete their merger, which was approved last week by unitholders for both companies. The merger, which will create the second largest publicly owned energy partnership in the United States, is expected to close in the third quarter.

Houston-based Enterprise Products Partners LP and GulfTerra Energy Partners LP have scheduled a special meeting of their common unitholders on July 29 to vote on the approval of a merger between the two partnerships. The two announced their merger late last year, which, when approved, will form the second largest publicly traded energy partnership in the United States (see Daily GPI, Dec. 16, 2003). The new partnership will be worth about $13 billion, with the jointly owned affiliates of Enterprise and El Paso Corp. each owning a 50% stake. Enterprise’s registration statement on Form S-4, including the joint proxy statement/prospectus for the special meeting, was declared effective by the Securities and Exchange Commission, and the proxy statement was to be mailed to the unitholders of both companies.

The months of June and July were the “low water mark” for Enterprise Products Partners LP’s natural gas liquids (NGLs) business — especially for ethane — but CEO O.S. “Dub” Andras said Monday he was “encouraged and cautiously optimistic” in recent activity for liquids.