September 9, 2008
Enterprise Resumes Service at Facilities Following Hurricane Gustav
Enterprise Products Partners L.P. (NYSE:EPD) today announced that all of its onshore assets in southern Louisiana, are now operational following Hurricane Gustav, with only one facility still waiting for restoration of commercial power. These assets sustained little or no damage as a result of the storm.
Aerial and ground inspections confirmed no damage to Enterprise's onshore natural gas and NGL pipelines which have resumed normal operations. The Dixie Pipeline system has also resumed normal operations, including the segment between Mont Belvieu, Texas and Baker, Louisiana, which was down to a lack of power at several pumping stations.
Offshore, Enterprise-operated platforms are fully staffed and operational with the Poseidon and Cameron Highway crude oil pipeline systems flowing once again. While most of the partnership's offshore natural gas pipelines have resumed operations, the western segment of the Viosca Knoll Gathering System (VKGS) is not in service due to damage caused by the storm. Enterprise is assessing the condition of the affected portion of the 20-inch diameter pipeline. This western segment of the VKGS handles minimal volumes and should not have a material impact on deliveries of Gulf of Mexico natural gas to facilities and end users onshore. Enterprise's Viosca Knoll 817 platform was not affected by Gustav. The Independence Hub at Mississippi Canyon 920 is also operational following minor repairs.
Enterprise is currently monitoring Hurricane Ike, which could impact infrastructure in the Gulf of Mexico and along the coast. In response to the storm, the partnership has initiated its hurricane preparedness plan and is in the process of securing its facilities and making plans to ensure the safety of its employees and contractors. Plans are currently being made for the evacuation of personnel from the platforms Enterprise operates in the eastern Gulf of Mexico later today. In addition, the operator of the Independence Hub anticipates shutting down the facility and removing personnel by tomorrow.
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships with an enterprise value of more than $20 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 petrochemicals through more than 35,000 miles of onshore and offshore pipelines. Services include natural gas transportation, gathering, processing and storage; NGL fractionation (or separation), transportation, storage, and import and export terminaling; crude oil transportation and offshore production platform services. 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 www.enterprisegp.com.
This news release includes forward-looking statements. Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve certain risks and uncertainties, such as the partnership's expectations regarding the resumption of service at the Independence Hub and the impact of damage to the Viosca Knoll Gathering System. These risks and uncertainties include, among other things, weather-related events, insufficient cash from operations, market conditions, governmental regulations and factors discussed in Enterprise Products Partners L.P.'s filings with the Securities and Exchange Commission. If any of these risks or uncertainties materializes, or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those expected. The partnership disclaims any intention or obligation to update publicly or reverse such statements, whether as a result of new information, future events or otherwise.