Enterprise Products Partners L.P.

SEC Filings

10-K
ENTERPRISE PRODUCTS PARTNERS L P filed this Form 10-K on 02/28/2018
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Propylene production and related activities

Comparison of 2017 with 2016.  Gross operating margin from propylene production and related marketing activities for 2017 increased a net $10.3 million when compared to 2016.

Gross operating margin from our Mont Belvieu propylene fractionation plants increased a net $33.0 million year-to-year primarily due to higher propylene average sales margins and volumes, which accounted for a $43.5 million increase, and higher average propylene fractionation fees, which accounted for an additional $13.8 million increase, partially offset by an increase in maintenance, storage and other operating costs of $23.9 million. Gross operating margin from the PDH facility decreased $13.3 million year-to-year primarily due to higher commissioning costs.  We expect the PDH facility to enter full service during the first quarter of 2018.

Gross operating margin from our Mont Belvieu rail terminal decreased $2.4 million year-to-year primarily due to lower loading volumes of 4 MBPD. Gross operating margin from our propylene export marine terminals decreased a net $1.4 million year-to-year primarily due to lower average loading fees, which accounted for a $7.3 million decrease, partially offset by lower operating costs, which accounted for a $4.3 million increase.
Comparison of 2016 with 2015.  Gross operating margin from propylene fractionation and related activities for 2016 increased $22.6 million when compared to 2015.  Gross operating margin from our Mont Belvieu propylene fractionation plants increased a net $37.1 million year-to-year. When compared to results for 2015, these plants benefitted in 2016 from $29.6 million of lower operating costs, $16.6 million of higher propylene fractionation and other fee revenues, and a $13.1 million increase in gross operating margin attributable to higher propylene fractionation volumes of 3 MBPD. The year-to-year decrease in operating costs is attributable to major maintenance projects that were completed in 2015.  Partially offsetting these benefits was a $22.2 million year-to-year decrease in gross operating margin attributable to lower propylene sales margins.
Pre-commissioning expenses associated with our PDH facility increased $15.5 million during 2016 when compared to 2015.
Butane isomerization and related operations
Comparison of 2017 with 2016.  Gross operating margin from butane isomerization and deisobutanizer (“DIB”) operations for 2017 increased $20.3 million when compared to 2016. Operating expenses associated with our isomerization facility in Mont Belvieu, Texas decreased $15.5 million year-to-year primarily due to major maintenance activities completed during 2016.  By-product sales revenues increased a net $7.2 million year-to-year primarily due to higher average sales prices, which accounted for a $21.7 million increase, offset by lower sales volumes, which accounted for a $14.5 million decrease.
Comparison of 2016 with 2015.  Gross operating margin from butane isomerization and DIB operations for 2016 decreased a net $13.2 million when compared to 2015.  Operating expenses associated with our isomerization facility in Mont Belvieu, Texas increased $22.4 million year-to-year primarily due to major maintenance activities we completed during 2016.  Butane processing revenues increased $7.8 million year-to-year primarily due to higher butane isomerization and standalone DIB processing volumes of 12 MBPD and 10 MBPD, respectively.
Octane enhancement and related plant operations
Comparison of 2017 with 2016.  Gross operating margin from our octane enhancement facility and high purity isobutylene (“HPIB”) plant for 2017 increased $80.4 million when compared to 2016.  Gross operating margin from our octane enhancement facility increased $80.7 million year-to-year primarily due to lower major maintenance costs, which accounted for $42.6 million of the increase, and higher sales volumes, which accounted for an additional $30.5 million increase.
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