SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C.
20549
FORM 8-K
CURRENT
REPORT PURSUANT
TO
SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF
1934
Date of Report (Date of earliest
event reported): July 25, 2008
ENTERPRISE PRODUCTS PARTNERS
L.P.
(Exact
name of registrant as specified in its charter)
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Delaware
(State
or Other Jurisdiction of
Incorporation
or Organization)
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1-14323
(Commission
File Number)
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76-0568219
(I.R.S.
Employer
Identification
No.)
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1100
Louisiana, 10th Floor
Houston,
Texas 77002
(Address
of Principal Executive Offices, including Zip Code)
(713) 381-6500
(Registrant’s
Telephone Number, including Area Code)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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| o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
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Item
5.02. Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
(c) and
(d) On
July 25, 2008, A.J. “Jim” Teague was appointed to the position of Executive Vice
President and Chief Commercial Officer for our general partner, Enterprise
Products GP, LLC (“EPGP”). Simultaneously, Mr. Teague was also appointed to
serve on EPGP’s board of directors. Mr. Teague was elected an Executive
Vice President of EPGP in November 1999. Mr. Teague joined us in connection
with our purchase of certain midstream energy assets from affiliates of Shell
Oil Company in 1999. From 1998 to 1999, Mr. Teague served as President of
Tejas Natural Gas Liquids, LLC.
Item 7.01. Regulation FD
Disclosure.
We issued
a joint press release with Duncan Energy Partners L.P. dated July 28, 2008
regarding the above appointment. A copy of the press release is furnished
herewith as Exhibit 99.1.
The
information in the press release attached as Exhibit 99.1 is "furnished" and not
"filed" for purposes of Section 18 of the Securities Exchange Act of 1934, or
otherwise subject to the liabilities of that section. It may only be
incorporated by reference in another filing under the Securities Exchange Act of
1934 or the Securities Act of 1933 if and to the extent such subsequent filing
specifically references the information incorporated by reference
herein.
Item
9.01. Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit
Number
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Exhibit
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99.1
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Press
Release dated July 28, 2008.
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1
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this Report to be signed on its behalf by the undersigned hereunto
duly authorized.
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ENTERPRISE
PRODUCTS PARTNERS L.P.
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By:
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Enterprise
Products GP, LLC,
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its
General Partner
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Date:
July 30, 2008
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By:
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/s/
Michael J. Knesek
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Name:
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Michael
J. Knesek
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Title:
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Senior
Vice President, Controller and
Principal
Accounting Officer of Enterprise
Products
GP, LLC
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2
Exhibit 99.1
60; 
Enterprise
Products Partners L.P.
Duncan
Energy Partners L.P.
P.O. Box
4324
Houston,
TX 77210
(713)
381-6500
Enterprise
and Duncan Energy Announce Organizational Changes;
Elect
Teague as Director and Chief Commercial Officer
Houston,
Texas (Monday, July 28, 2008) – The general partners of Enterprise Products
Partners L.P. (NYSE: “EPD”) and Duncan Energy Partners L.P. (NYSE:
“DEP”) today announced organizational changes to their commercial management
teams. A. J. “Jim” Teague, executive vice president, was elected as a
director to the respective boards of the general partners and as chief
commercial officer responsible for managing all of the commercial businesses of
the partnerships. Teague will continue to report to Michael A. Creel,
president and chief executive officer of Enterprise.
Teague
joined Enterprise in 1999 as executive vice president through the partnership’s
acquisition of Shell Oil Company’s midstream energy business in Louisiana and
Mississippi. Since that time, Teague has been responsible for
Enterprise’s natural gas liquids (“NGL”) businesses and, more recently,
developing its natural gas marketing group. Prior to joining
Enterprise, Teague was a member of the senior management teams at affiliates of
Shell Oil Company, MAPCO Inc. and Dow Chemical Company.
“On
behalf of the board of directors of the general partners of Enterprise and
Duncan Energy, I am pleased to announce Jim Teague’s election as a director and
the chief commercial officer of Enterprise,” said Creel. “Jim has a
wealth of knowledge of the midstream energy business and has been an integral
part of Enterprise’s success over the past nine years.”
“At this
time, we are also making changes to Enterprise’s commercial organization to make
it more consistent with our value chain approach to conducting
business. With this realignment, the management of Enterprise’s
commercial businesses will now be organized into four reporting lines, each of
which either form an integrated value chain or have complementary
characteristics. The executives managing these businesses will report
to Jim Teague. We believe these changes will be beneficial as we work
to maximize the economic utilization of our $16 billion portfolio of midstream
energy assets.”
Enterprise’s
regulated and offshore assets will be managed by James H. Lytal, executive vice
president. In addition to Lytal’s existing responsibility for all of
Enterprise’s regulated natural gas pipeline and storage assets and offshore
businesses, he will assume responsibility for over 10,500 miles of regulated NGL
pipelines. James M. Collingsworth, senior vice president, will
continue to be directly responsible for Enterprise’s regulated NGL pipelines,
including the Mid-America, Seminole and Dixie pipelines, and will report to
Lytal.
The
partnerships’ unregulated NGL businesses will be managed by Thomas M. Zulim,
senior vice president. Zulim is returning to the NGL business group
after spending the last four years managing the human resources organization for
privately held EPCO, Inc., which employs all of the personnel
that
The
unregulated natural gas businesses will be managed by Christopher R. Skoog,
senior vice president. He will have responsibility for the
partnerships’ non-regulated and intrastate natural gas pipeline and storage
businesses, as well as natural gas marketing. This business group
includes Enterprise’s Texas Intrastate and Acadian pipeline systems and the
Wilson natural gas storage facility in Texas.
Petrochemical
services will continue to be managed by G.R. “Jerry” Cardillo, vice
president. This business group includes the partnerships’ butane
isomerization, propylene fractionation and pipeline and octane additive
businesses.
These
organizational changes will not have an effect on the reportable business
segments of the partnerships.
Company Information and Use
of Forward Looking Statements
Enterprise
Products Partners L.P. is one of the largest publicly traded partnerships with
an enterprise value of approximately $21 billion, and is a leading North
American provider of midstream energy services to producers and consumers of
natural gas, NGLs, crude oil and petrochemicals. Enterprise
transports natural gas, NGLs, crude oil and petrochemical products through
approximately 35,000 miles of onshore and offshore
pipelines. Services include natural gas gathering, processing,
transportation and storage; NGL fractionation (or separation), transportation,
storage and import and export terminaling; crude oil transportation; offshore
production platform services; and petrochemical transportation and
services. For more information, visit Enterprise on the web at www.epplp.com. Enterprise
Products Partners L.P. is managed by its general partner, Enterprise Products
GP, LLC, which is wholly-owned by Enterprise GP Holdings L.P. (NYSE:
EPE). For more information on Enterprise GP Holdings L.P., visit its
website at www.enterprisegp.com.
Duncan
Energy Partners is a publicly traded partnership that provides midstream energy
services, including gathering, transportation, marketing and storage of natural
gas, in addition to transportation and storage of NGLs and
petrochemicals. Duncan Energy Partners is managed by its general
partner, which is wholly-owned by an affiliate of Enterprise Products Partners
L.P. Duncan Energy Partners' assets, located primarily in the Gulf
Coast region of Texas and Louisiana, include interests in more than 1,000 miles
of natural gas pipelines with a transportation capacity of approximately 1 Bcf
per day; nearly 600 miles of NGL and petrochemical pipelines featuring access to
the world's largest fractionation complex at Mont Belvieu, Texas; and 33
underground salt dome caverns with about 100 MMBbls of NGL storage capacity. For
more information, visit Duncan Energy on the web at www.deplp.com.
This
press release contains various forward-looking statements and information that
are based on Enterprise’s and Duncan Energy’s belief and those of its general
partner, as well as assumptions made by and information currently available to
Enterprise and Duncan Energy. When used in this press
release,
words
such as “anticipate,” “project,” “expect,” “plan,” “goal,” “forecast,” “intend,”
“could,” “believe,” “may,” and similar expressions and statements regarding the
plans and objectives of Enterprise and Duncan Energy for future operations, are
intended to identify forward-looking statements. Although Enterprise
and its general partner believe that such expectations reflected in such
forward-looking statements are reasonable, Enterprise, Duncan Energy nor their
general partners can give assurances that such expectations will prove to be
correct. Such statements are subject to a variety of risks, uncertainties and
assumptions. If one or more of these risks or uncertainties
materialize, or if underlying assumptions prove incorrect, Enterprise’s and
Duncan Energy’s actual results may vary materially from those Enterprise and
Duncan Energy anticipated, estimated, projected or expected. Among
the key risk factors that may have a direct bearing on Enterprise’s and Duncan
Energy’s results of operations and financial condition are:
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fluctuations
in oil, natural gas and NGL prices and production due to weather and other
natural and economic forces;
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the
effects of our debt level on its future financial and operating
flexibility;
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a
reduction in demand for our products by the petrochemical, refining or
heating industries;
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a
decline in the volumes of NGLs delivered by our
facilities;
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the
failure of its credit risk management efforts to adequately protect us
against customer non-payment;
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terrorist
attacks aimed at our facilities;
and
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the
failure to successfully integrate our operations with companies we may
acquire in the future, if any.
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Enterprise
and Duncan Energy have no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information, future events
or otherwise.
Contacts: Randy Burkhalter, Vice President,
Investor Relations, (713) 381-6812, www.epplp.com
Rick Rainey, Director, Media Relations,
(713) 381-3635
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