SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15 (d)
of the Securities Exchange Act of 1934
Date of report: March 20, 2000
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 No.)
Incorporation or Organization)
2727 NORTH LOOP WEST, HOUSTON, TEXAS 77008-1037
(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code : (713) 880-6500
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ITEM 5. OTHER EVENTS.
On March 20, 2000, the Company announced that the Neptune natural gas
processing plant had commenced commercial operations. Neptune, with the capacity
to process 300 million cubic feet per day ("MMcfd") of natural gas, is located
in St. Mary Parish, Louisiana and processes natural gas that is transported on
the Nautilus pipeline system. Enterprise operates the plant and has a 66 percent
ownership interest, with Marathon Oil Company holding the remaining 34 percent
interest. A copy of the Company's press release announcing the commencement of
operations 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 March 20, 2000.
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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.
(A Delaware Limited Partnership)
By: ENTERPRISE PRODUCTS GP, LLC,
as General Partner
Date: March 20, 2000 By: /s/ Gary L. Miller
__________________________________________
Name: Gary L. Miller
Title: Executive Vice President
and Chief Financial Officer
of Enterprise Products GP, LLC
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EXHIBIT INDEX
EXHIBIT
NUMBER EXHIBIT DESCRIPTION
99.1 Press Release dated March 20, 2000.
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EXHIBIT 99.1
NEPTUNE NATURAL GAS PROCESSING PLANT
COMMENCES OPERATIONS
Houston, Texas (March 20, 2000) - Enterprise Products Partners L.P.
(NYSE: EPD) announced that the Neptune natural gas processing plant has
commenced commercial operations. Neptune, with the capacity to process 300
million cubic feet per day ("MMcfd") of natural gas, is located in St. Mary
Parish, Louisiana and processes natural gas that is transported on the Nautilus
pipeline system. Enterprise operates the plant and has a 66 percent ownership
interest, with Marathon Oil Company, a part of the USX-Marathon Group (NYSE:
MRO), a unit of USX Corporation, holding the remaining 34 percent interest.
Neptune is currently processing approximately 200 MMcfd of natural gas
originating primarily from deepwater Gulf of Mexico developments. The plant is
yielding 16,000 barrels per day of natural gas liquids ("NGLs") which are
transported via pipeline to the Promix fractionator, in which Enterprise owns a
33 1/3 percent interest, for separation into NGL products.
The Neptune plant is designed to recover in excess of 85 percent of the
ethane and virtually 100 percent of the propane, butanes and natural gasoline
present in the natural gas stream. At maximum capacity, the plant can produce
more than 25,000 barrels per day of NGLs.
Enterprise Products Partners L.P., with an enterprise value of
approximately $2 billion, is one of the leading midstream energy service
companies in North America, providing the complete services of processing,
fractionation, transportation and storage to producers of NGLs and consumers of
NGL products.
This press release includes forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934 based on the
beliefs of the company, as well as assumptions made by, and information
currently available to, management. Although Enterprise believes that the
expectations reflected in such forward-looking statements are reasonable, it can
give no assurance that such expectations will prove to be correct.
Contacts:
Enterprise Products Partners L.P. Marathon Oil Company
Randy Fowler Diana Trimble
Director of Investor Relations Public Affairs Administrator
(713) 880-6694, www.epplp.com (713) 296-3908
