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UNITED STATES
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: May 8, 2003
(Date of Earliest Event Reported: May 7, 2003)
EL PASO ENERGY PARTNERS, L.P.
(Exact name of Registrant as specified in its charter)
Delaware 1-11680 76-00396023
(State or other (Commission File (I.R.S. Employer
jurisdiction of Number) Identification No.)
incorporation)
4 Greenway Plaza
Houston, Texas 77046
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (832) 676-6152
Item 5. Other Events
------------
On May 7, 2003, we announced that W. Matt Ralls, senior vice
president and chief financial officer of GlobalSantaFe
Corporation was elected to the Board of Directors of El Paso
Energy Partners Company, the general partner of El Paso Energy
Partners, L.P. effective as of May 6, 2003. A copy of our press
release is attached as Exhibit 99.1 and is incorporated herein by
reference.
Item 7. Financial Statements, ProForma Financial Information
and Exhibits
---------------------------------------------------------
(c) Exhibits.
Exhibit
Number Description
------- -----------
99.1 Press Release dated May 7, 2003.
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 thereunto duly authorized.
EL PASO ENERGY PARTNERS, L.P.
By: El Paso Energy Partners Company
Its General Partner
By: /s/ Kathy A. Welch
------------------------
Kathy A. Welch
Vice President and Controller
(Principal Accounting Officer)
Date: May 8, 2003
EXHIBIT INDEX
Exhibit
Number Description
------ -----------
99.1 Press Release dated May 7, 2003.
El Paso Energy Partners, L.P. EXHIBIT 99.1
NEWS
W. MATT RALLS JOINS EL PASO ENERGY PARTNERS' BOARD OF DIRECTORS
---------------------------------------------------------------
HOUSTON, TEXAS, MAY 7, 2003-El Paso Energy Partners, L.P.
(NYSE:EPN), which recently announced its name change to GulfTerra
Energy Partners, L.P. effective May 15, 2003, (NYSE:GTM), today
announced that effective May 6, 2003, W. Matt Ralls, senior vice
president and chief financial officer of GlobalSantaFe
Corporation (NYSE:GSF), was elected to join the board of
directors of El Paso Energy Partners Company, the general partner
of El Paso Energy Partners, L.P.
"We are very pleased to have the opportunity to bring such a
strong industry executive to our board," said Robert G. Phillips,
chairman and chief executive officer of El Paso Energy Partners,
L.P. "Matt's extensive industry experience, strong financial
management background, and knowledge of the emerging
opportunities in the Deepwater Trend of the Gulf of Mexico will
add depth and independence to our board of directors."
Mr. Ralls, 53, is senior vice president and chief financial
officer of GlobalSantaFe, one of the largest international
drilling contractors, providing offshore and land drilling
services to the world's leading oil and gas companies. From 1997
to 2001, he was Global Marine's vice president, chief financial
officer and treasurer. Previously, he served as executive vice
president, chief financial officer and a director of Kelley Oil
and Gas Corporation and as vice president of Capital Markets and
Corporate Development for The Meridian Resource Corporation
before joining Global Marine. He spent the first 17 years of his
career in commercial banking, at the senior loan management
level. Mr. Ralls received an MBA from the University of Texas at
Austin.
The selection process for the election of Mr. Ralls to the
board of directors of El Paso Energy Partners was conducted by
EPN's Governance and Compensation Committee, and the search was
conducted by the independent search firm of Heidrick & Struggles
Inc. Increasing the number of independent directors on the board
is an important element in EPN's publicly stated plan to
strengthen its corporate governance which is more fully described
in our 2002 Form 10-K. Including Mr. Ralls, El Paso Energy
Partners board consists of two company executives and four
independent directors.
El Paso Energy Partners, L.P. is one of the largest publicly
traded master limited partnerships with interests in a
diversified set of midstream assets, including onshore and
offshore natural gas and oil pipelines; offshore production
platforms; natural gas storage and processing facilities; and
natural gas liquids fractionation, transportation, storage and
terminal assets. Visit El Paso Energy Partners on the Web at
www.elpasopartners.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This release includes forward-looking statements and
projections, made in reliance on the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. The
partnership has made every reasonable effort to ensure that the
information and assumptions on which these statements and
projections are based are current, reasonable, and complete.
However, a variety of factors, including the integration of
businesses acquired in 2002 and generation of expected revenues
from the partnership's existing projects, recent expansion
projects, greenfield projects, status of Deepwater Trend Projects
in the Gulf of Mexico, and general economic and weather
conditions in geographic regions or markets served by El Paso
Energy Partners and its affiliates, or where operations of the
partnership are located, could cause actual results to differ
materially from the projections, anticipated results or other
expectations expressed in this release. While the partnership
makes these statements and projections in good faith, neither the
partnership nor its management can guarantee that the anticipated
future results will be achieved. Reference should be made to the
partnership's (and its affiliates') Securities and Exchange
Commission filings for additional important factors that may
affect actual results.
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Contacts:
Communications & Government Affairs Investor Relations
Norma F. Dunn Sandra M. Ryan
Senior Vice President Director
Office: (713) 420-3750 Office: (832) 676-5371
Fax: (713) 420-3632 Fax: (832) 676-1195