UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM SD
Specialized Disclosure Report
ENTERPRISE PRODUCTS PARTNERS L.P.
(Exact Name of Registrant as Specified in Charter)
| Delaware | 1-14323 | 76-0568219 | ||
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
| 1100 Louisiana Street, 10th Floor, Houston, Texas | 77002 | |
| (Address of Principal Executive Offices) | (Zip Code) |
R. Daniel Boss
Executive Vice President and Chief Financial Officer
of Enterprise Products Holdings LLC
(713) 381-6500
(Name and telephone number, including area code, of person to contact in connection with this report.)
Check the appropriate box to indicate the rule pursuant to which this form is being submitted, and provide the period to which the information in this form applies:
| ☐ | Rule 13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, 2023. |
| ☒ | Rule 13q-1 under the Securities Exchange Act (17 CFR 240.13q-1) for the fiscal year ended December 31, 2023. |
SECTION 2. RESOURCE EXTRACTION ISSUER DISCLOSURE
Item 2.01 - Resource Extraction Issuer Disclosure and Report
Disclosure of Payments by Resource Extraction Issuers
The payment disclosure required by this Item 2.01 is included as Exhibit 2.01 and Exhibit 99.1 to this Form SD.
SECTION 3. EXHIBITS
Item 3.01. Exhibits
| Exhibit No. |
Description | |
| 2.01 | Interactive Data files (Resource Extraction Payment Report as required by Item 2.01 of this Form SD for the year ended December 31, 2023 filed in XBRL). | |
| 99.1 | Resource Extraction Payment Report as required by Item 2.01 of this Form SD. | |
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.
| ENTERPRISE PRODUCTS PARTNERS L.P. | ||||||
| By: | Enterprise Products Holdings LLC, its General Partner | |||||
| Date: September 26, 2024 | By: | /s/ R. Daniel Boss | ||||
| Name: | R. Daniel Boss | |||||
| Title: | Executive Vice President and Chief Financial Officer of Enterprise Products Holdings LLC | |||||
Exhibit 99.1
Resource Extraction Payment Report
Project-level disclosure
The table below sets forth our payments made to governments for the fiscal year ended December 31, 2023, by project and type of payment.
| (in USD and in thousands) | For the year ended December 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Project Name |
Country/Major Subnational Jurisdiction |
Government | Resource | Extraction Method |
Taxes(1) | Royalties | Fees | Production Entitlements |
Bonuses | Dividends | Payments for infrastructure improvements |
Community and social responsibility payments |
Total | |||||||||||||||||||||||||||||||||||||||
| N/A |
U.S. | |
Federal Government |
|
|
Oil and Natural Gas |
|
Well | $ | 3,017 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 3,017 | ||||||||||||||||||||||||||
| (1) | Publicly traded partnerships like ours are treated as corporations unless they have 90% or more in “qualifying income” (as that term is defined in the Internal Revenue Code). We satisfied this requirement including for the year ended December 31, 2023 and, as a result, are not subject to federal income tax at the Enterprise Products Partners L.P. entity level. However, certain of our consolidated subsidiaries, which have interests in entities that derive income from “commercial development of oil, natural gas, or minerals” as defined in Section 13(q) of the Securities Exchange Act, are corporations or are treated as corporations for federal income tax purposes and are subject to federal income tax on their taxable income. The U.S. Federal Government levies corporate income taxes at an entity level rather than on a per-project basis. Accordingly, we have disclosed all tax payments at the entity-level for those subsidiaries whose taxable income is derived in part from “commercial development of oil, natural gas, or minerals” as defined in Section 13(q) of the Securities Exchange Act. The payments do not relate to a particular project but to the total taxable income for the applicable subsidiaries. |
Government-level disclosure
The table below sets forth our payments made to governments for the fiscal year ended December 31, 2023, by government and type of payment.
| (in USD and in thousands) | For the year ended December 31, 2023 | |||||||||||||||||||||||||||||||||||||||
| Country/Major |
Government | Taxes(1) | Royalties | Fees | Production Entitlements |
Bonuses | Dividends | Payments for infrastructure improvements |
Community and social responsibility payments |
Total | ||||||||||||||||||||||||||||||
| U.S. |
|
Federal Government |
|
$ | 3,017 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 3,017 | |||||||||||||||||||
| (1) | Publicly traded partnerships like ours are treated as corporations unless they have 90% or more in “qualifying income” (as that term is defined in the Internal Revenue Code). We satisfied this requirement including for the year ended December 31, 2023 and, as a result, are not subject to federal income tax at the Enterprise Products Partners L.P. entity level. However, certain of our consolidated subsidiaries, which have interests in entities that derive income from “commercial development of oil, natural gas, or minerals” as defined in Section 13(q) of the Securities Exchange Act, are corporations or are treated as corporations for federal income tax purposes and are subject to federal income tax on their taxable income. The U.S. Federal Government levies corporate income taxes at an entity level rather than on a per-project basis. Accordingly, we have disclosed all tax payments at the entity-level for those subsidiaries whose taxable income is derived in part from “commercial development of oil, natural gas, or minerals” as defined in Section 13(q) of the Securities Exchange Act. The payments do not relate to a particular project but to the total taxable income for the applicable subsidiaries. |