8-KRegulation FDExhibits & Filings

ENTERPRISE PRODUCTS PARTNERS L.P. 8-K Report, Regulation FD Disclosure (May 15, 2007)

Filed May 15, 2007For Securities:EPDEPDU

Summary

This 8-K filing by Enterprise Products Partners L.P. (EPD) announces the release of an investor presentation delivered at the Bear Stearns Fixed Income Conference on May 15, 2007. The presentation covers the company's businesses, growth strategies, and financial performance. EPD is described as a North American midstream energy company providing services for natural gas, NGLs, and crude oil, with a leading position in pipeline development across the continental U.S. and Gulf of Mexico. Key financial disclosures include the use of non-GAAP financial measures such as gross operating margin, distributable cash flow, and EBITDA, with detailed definitions and reconciliations provided. The filing also outlines recent significant transactions by Enterprise GP Holdings L.P. (EPE), the parent entity, including substantial acquisitions related to TEPPCO Partners, L.P. (TPP) and Energy Transfer Equity, L.P. (ETE), totaling approximately $2.8 billion. These transactions, along with the consolidation of Duncan Energy Partners L.P. (DEP), are important for understanding EPD's financial structure and growth initiatives.

Key Highlights

  • 1Enterprise Products Partners L.P. (EPD) filed an 8-K to disclose an investor presentation from the Bear Stearns Fixed Income Conference.
  • 2The presentation focuses on EPD's midstream energy businesses, growth strategies, and financial performance.
  • 3EPD is highlighted as a leading North American midstream energy company.
  • 4The filing provides extensive detail on non-GAAP financial measures used by management, including Gross Operating Margin, Distributable Cash Flow, and EBITDA.
  • 5Significant related-party transactions by Enterprise GP Holdings L.P. (EPE) are detailed, including acquisitions of TEPPCO Partners (TPP) and Energy Transfer Equity (ETE) units for a total of approximately $2.8 billion.
  • 6Consolidation of Duncan Energy Partners L.P. (DEP) financial results is noted, impacting EPD's consolidated debt and financial reporting.
  • 7The company uses these non-GAAP metrics to assess performance and liquidity, providing reconciliations to GAAP measures.

Frequently Asked Questions

The main purpose of this 8-K filing is to publicly disclose an investor presentation that Enterprise Products Partners L.P. (EPD) executives gave at the Bear Stearns Fixed Income Conference. This presentation provides investors and analysts with updated information on the company's operations, strategies, and financial health.

The key non-GAAP financial measures highlighted are Gross Operating Margin, Distributable Cash Flow, and EBITDA. These measures are important because management uses them to evaluate segment performance, assess liquidity, compare financial performance without regard to financing methods, and determine the company's ability to generate cash to cover distributions and debt obligations. EPD provides detailed definitions and reconciliations to their most comparable GAAP measures.

Yes, the filing details significant transactions by Enterprise GP Holdings L.P. (EPE), a related entity. EPE acquired substantial interests in TEPPCO Partners, L.P. (TPP) and Energy Transfer Equity, L.P. (ETE) for approximately $2.8 billion. These acquisitions are relevant to understanding the broader Enterprise Products structure and potential strategic implications.

Duncan Energy Partners L.P. (DEP) is consolidated into EPD's financial statements for reporting purposes. While public unitholders of DEP do not have a direct equity interest in EPD, DEP's operations and debt are reflected in EPD's consolidated results. DEP recently completed its IPO in February 2007.