<PAGE>
================================================================================
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: October 19, 1998
Commission File Number 1-14323
ENTERPRISE PRODUCTS PARTNERS L.P
(Exact name of registrant as specified in its charter)
DELAWARE 76-0568219
(State or other jurisdiction of (I.R.S. Employer Identification
incorporation or organization) Number)
2727 North Loop West
Houston, Texas 77008
(Address of principal executive (Zip Code)
offices)
(713) 880-6500
(Registrant's telephone number, including area code)
================================================================================
<PAGE>
ITEM 5. OTHER EVENTS.
On October 19, 1998, the Company announced that its affiliate, Enterprise
Products Company intended to purchase up to 500,000 of the Company's common
units in open market or privately negotiated transactions. A copy of the
Company's press release announcing such intention is attached hereto as Exhibit
99.1 and is incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
99.1 Press Release dated October 19, 1998.
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 GP, LLC, its general
partner
Date: October 19, 1998 By: /s/ GARY L. MILLER
----------------------------------
Gary L. Miller
Executive Vice President,
Chief Financial Officer and Treasurer
of Enterprise Products GP, LLC
<PAGE>
EXHIBIT INDEX
-------------
EXHIBIT
NUMBER EXHIBIT DESCRIPTION
- ------ -------------------
99.1 Press Release dated October 19, 1998.
<PAGE>
EXHIBIT 99.1
P. O. BOX 4324
HOUSTON, TEXAS 77210-4324
713/880-6500
ENTERPRISE PRODUCTS PARTNERS L.P.
FOR IMMEDIATE RELEASE
CONTACT: Gary Miller
PHONE: (713) 880-6500
ENTERPRISE PRODUCTS PARTNERS L.P.
---------------------------------
ANNOUNCES COMMON UNIT REPURCHASE PROGRAM
----------------------------------------
HOUSTON (Monday, October 19, 1998) -- Enterprise Products Partners L.P.
(NYSE: "EPD") today announced that its affiliate, Enterprise Products Company
(EPCO), intends to purchase up to 500,000 common units of Enterprise Products
Partners L.P. Subject to market conditions, the purchases may be effected by
EPCO from time to time through solicited or unsolicited transactions in the
market or in privately negotiated transactions.
EPCO owns, through a subsidiary, approximately 73.7 percent of
Enterprise Products Partners outstanding common units and approximately 82.1
percent of its outstanding total units. Pursuant to an agreement entered into
in connection with Enterprise Products Partners initial public offering, the
senior management and employees of EPCO manage the day-to-day business of
Enterprise Products Partners. EPCO has advised Enterprise Products Partners
that it intends to use the units purchased in connection with the initiation of
a common unit option plan for EPCO's senior management and key personnel. The
funds of Enterprise Products Partners will not be used in connection with the
purchase program, and the amount of its minimum quarterly distribution will not
be affected.
-MORE-
<PAGE>
Enterprise Products Partners L.P.
Page 2
"This program reflects our confidence in the value of Enterprise
Products Partners common units, resulting in our belief that unitholder value
will be enhanced by this program," said Dan L. Duncan, chairman of the board of
Enterprise Products Partners and chairman and controlling shareholder of EPCO.
"The purchases will help to offset any dilution of EPCO's ownership in
Enterprise Products Partners from stock compensation programs."
Enterprise Products Partners L.P. is a leading integrated provider of
processing and transportation services to producers of natural gas liquids
("NGL") and consumers of NGL products. Enterprise Products Partners also
separates high purity propylene from refinery-sourced propane/propylene mix and
transports high purity propylene to plastics manufacturers by pipeline.
Products processed are generally used as feedstocks in petrochemical
manufacturing, in the production of motor gasoline and fuel for residential and
commercial heating.
Enterprise Products Partners L.P. processing operations are
concentrated at Mont Belvieu, Texas. Facilities they operate there include one
of the largest NGL fractionation and MTBE production facilities in the United
States, the largest butane isomerization complex in the United States and two
propylene fractionation units.
-MORE-
<PAGE>
Enterprise Products Partners L.P.
Page 3
Enterprise Products Partners L.P. also owns and operates a network of
approximately 500 miles of pipeline throughout the Gulf Coast and a
fractionation facility in Petal, Mississippi with a capacity of 7,000 barrels
per day. They lease and operate one of only two commercial NGL import/export
terminals on the Gulf Coast and NGL storage wells with approximately 35 million
barrels of capacity.
This press release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934 as well as assumptions made by, and information
currently available to, management. Although Enterprise Products Partners
believes that the expectations reflected in such forward-looking statements are
reasonable, it can give no assurance that such expectations will prove to have
been correct.
For additional information, contact Enterprise Products Partners L.P.
investor relations at (713) 880-6500.
-30-
