| Enterprise Products Arm Adds $500M to Bank Credit Facilities | |
| | |
|
Enterprise Products Partners L.P. EPD announced that its operating subsidiary, Enterprise Products Operating LLC, increased its bank credit facilities by $500 million. This raise would provide the partnership with up to $5.5 billion of aggregate borrowing capacity. The facilities consist of an amended $4.0 billion multi-year revolving credit agreement that matures in Sep 2020 and a new $1.5 billion 364-day revolving credit agreement. Both are unconditionally guaranteed by Enterprise Products Partners on an unsecured and unsubordinated basis. Aggregate available borrowing capacity under the increased bank credit facilities is approximately $4.7 billion. The partnership currently has approximately $8 billion of organic growth projects under construction. The projects are expected to be completed and begin generating new sources of cash flow by 2017. This $500 million expansion of bank credit facilities provides the partnership additional financial flexibility during this period. Enbridge Energy Partners, a master limited partnership, is engaged in the gathering, processing and transmission of natural gas and crude oil. The partnership is best known for its ownership of the Lakehead System – one of the longest petroleum pipeline systems in the world. This system is the U.S. portion of the main artery for the delivery of crude oil supply from Western Canada to refining centers in the Upper Midwest of the U.S. and Ontario in Canada. The partnership’s assets include approximately 49,000 miles of pipelines; 225 million barrels of storage capacity for NGLs, petrochemicals, refined products and crude oil; and 14 billion cubic feet of natural gas storage capacity. Focus on fee-based and diversified businesses has enabled Enbridge Energy Partners to dilute its business risks as well as provide a stable and steadily growing earnings profile. Enbridge Energy Partners currently carries a Zacks Rank #3 (Hold). Some better-ranked players in the energy sector are Seadrill Partners LLC SDLP, Alon USA Partners LP ALDW and Tesoro Corporation TSO. Each of these stocks sports a Zacks Rank #1 (Strong Buy). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ENTERPRISE PROD (EPD): Free Stock Analysis Report TESORO CORP (TSO): Free Stock Analysis Report SEADRILL PTNRS (SDLP): Free Stock Analysis Report ALON USA PTNRS (ALDW): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
|
|
|
Enbridge Energy Partners LP
|
|
|
CODE : EEP |
ISIN : US29250R1068 |
|
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Enbridge Energy is a and oil producing company based in United states of america. Enbridge Energy holds various exploration projects in USA. Its main exploration property is LAKEHEAD in USA. Enbridge Energy is listed in United States of America. Its market capitalisation is US$ 3.4 billions as of today (€ 3.0 billions). Its stock quote reached its lowest recent point on June 22, 2018 at US$ 10.00, and its highest recent level on December 19, 2018 at US$ 10.43. Enbridge Energy has 326 517 110 shares outstanding. |