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Stock Market & Financial Investment News

News Breaks
May 20, 2014
07:31 EDTEPDEnterprise Products begins exporting refined products from Beaumont terminal
Enterprise Products Partners L.P. has loaded the first cargo of refined products for export from its reactivated marine terminal in Beaumont, Texas. Located on the Neches River, the terminal can load at rates up to 15,000 barrels per hour. The facility includes a dock with a 40-foot draft that can accommodate Panamax size vessels that have a capacity of up to 400,000 barrels. The terminal has access to more than 12 million Bbls of refined products storage and receives products from eight refineries, representing approximately 3.3 million barrels per day of capacity, as well as the Colonial Pipeline. The improvements and modifications required to resume operations at the terminal, which included dredging, new pipeline construction, and the installation of new loading arms and vapor recovery systems, are supported by shipper commitments. Future plans for the Beaumont refined products terminal include the addition of a second dock and significant on-site storage for blending components.
News For EPD From The Last 14 Days
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October 1, 2014
15:50 EDTEPDEnterprise deal a meaningful long-term positive, says Wells Fargo
Wells Fargo views Enterprise Products' (EPD) purchase of most of Oiltanking Partners (OILT) and its proposal to acquire the rest as a modest financial positive for Enterprise but a meaningful long-term positive in a strategic sense. The firm views the deal as net neutral for Oiltanking Partners unitholders. Wells maintains its Outperform rating on shares of Enterprise Products.
09:07 EDTEPDEnterprise Products buys Oiltanking unit for approximately $4.41B
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09:04 EDTEPDEnterprise Products proposes merger of Oiltanking Partners
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09:03 EDTEPDEnterprise Products acquires partner interests in Oiltanking Partners
Oiltanking Partners (OILT) announced that Oiltanking Holding Americas, a subsidiary of Oiltanking GmbH, has sold its 64.7% limited partner interest in the Partnership, represented by 15,899,802 common units and 38,899,802 subordinated units in the Partnership, as well as its 2% general partner interest and related incentive distribution rights, to Enterprise Products (EPD). Oiltanking Partners, through its wholly owned subsidiaries, Oiltanking Houston and Oiltanking Beaumont, engages in the terminaling, storage and transportation of crude oil, refined petroleum products and liquefied petroleum gas at its terminals located on the Houston Ship Channel and in Beaumont, Texas. In the transaction, Oiltanking Holdings received Enterprise common units valued at approximately $2.20B and $2.21B of cash for total consideration of approximately $4.41B. Christian Flach, former Chairman of the Board of Directors of the general partner of the Partnership, has joined the Board of Directors of Enterprise's general partner. Enterprise also paid $228M to an affiliate of Oiltanking Holdings to purchase notes receivables and accrued interest thereon due from the Partnership and its subsidiaries.
September 29, 2014
09:20 EDTEPDEnterprise Products completes initial segment of Aegis ethane pipeline
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09:02 EDTEPDEnterprise Products announces ninth NGL fractionator at Mont Belvieu complex
Enterprise Products Partners L.P. will build its ninth natural gas liquid fractionator at its complex in Mont Belvieu, Texas. This ninth fractionator will have a nameplate capacity of 85,000 barrels per day and is expected to begin operations as early as January 2016. Upon completion of the ninth NGL fractionator, Enterprise will have gross nameplate NGL fractionation capacity of 755,000 BPD at Mont Belvieu and total gross NGL fractionation capacity of approximately 1.2 million BPD. Generally, the operating rates for our Hobbs fractionator and the last five fractionators built at Mont Belvieu have exceeded nameplate capacity. Enterprise will have approximately 265,000 BPD of propane production capability at Mont Belvieu upon the completion of the ninth fractionator.

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