HOUSTON--(BUSINESS WIRE)--Mar. 20, 2019--
Enterprise Products Partners L.P. (NYSE: EPD) today announced that it
will again team up with CME Group to conduct an electronic auction
offering U.S. crude oil for export from the Enterprise Hydrocarbon
Terminal (“EHT”) on the Houston Ship Channel. During the auction, which
will take place April 4, 2019, bids will be accepted for WTI light sweet
crude oil using CME Group’s proprietary spot auction platform. The
auction will be the second to take place since the launch of a
physically delivered NYMEX WTI Houston Crude Oil futures contract in
November of 2018. In addition to EHT, the NYMEX Houston WTI futures
contract also offers delivery of crude oil at Enterprise’s ECHO and
Genoa Junction terminals.
“With the recent success of the first ever electronic auction of U.S.
crude oil for export, the market has demonstrated its demand for
transparency, efficiency, accurate physical pricing and access to
reliable supplies of crude oil with consistent quality standards,” said
Brent Secrest, senior vice president, Commercial of Enterprise’s general
partner. “We are pleased to be working with CME Group on this newest
auction and look forward to future offerings of crude oil for export.”
Utilizing Enterprise’s extensive distribution network, the Houston
futures contract features access to more than 4 million barrels per day
of crude oil supplies, 45 million barrels of crude oil storage and 18
deepwater docks. Enterprise is the largest exporter of crude oil in the
U.S., accounting for nearly 40 percent of the volumes to markets abroad.
Additional details, including instructions for interested participants,
will be available at www.cmegroup.com/cmeauction.
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 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 currently include approximately 49,200 miles of
pipelines; 260 million barrels of storage capacity for NGLs, crude oil,
petrochemicals and refined products; 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190320005200/en/
Source: Enterprise Products Partners L.P.
Randy Burkhalter, Investor Relations, (713) 381-6812 or (866) 230-0745
Rainey, Media Relations (713) 381-3635