Enterprise Products Partners L.P. (ticker: EPD, exchange: New York Stock Exchange (.N))
News Release -
TEPPCO Partners, L.P. Declares Cash Distribution and Announces Earnings Call for Second Quarter 2009
HOUSTON--(BUSINESS WIRE)--Jul. 17, 2009-- TEPPCO Partners, L.P. (NYSE:TPP) today declared a second quarter cash distribution rate of $0.725 per unit, or $2.90 per unit on an annualized basis. The distribution is payable August 7, 2009 to unitholders of record on July 31, 2009, and covers the period April 1, 2009 through June 30, 2009.
TEPPCO will announce its second quarter 2009 financial results on Thursday, July 30, 2009 before the start of trading on the New York Stock Exchange. Following the announcement, the partnership will host a conference call at 9 a.m. CDT to discuss its earnings performance. The call will be broadcast live on the Internet and may be accessed from the partnership's website, www.teppco.com under the "Investors" tab.
Those interested in listening to the webcast should log in at least 10 minutes prior to the start of the conference call to download and install any necessary audio software. An audio replay of the conference call will be accessible for seven days by dialing (877) 660-6853 and using account code 345 and replay ID number 328361. The replay and transcript will also be available on the TEPPCO website.
TEPPCO Partners, L.P., is a publicly traded energy logistics partnership with operations that span much of the continental United States. TEPPCO owns and operates an extensive network of assets that facilitate the movement, marketing, gathering and storage of various commodities and energy-related products. The partnership's midstream network is comprised of approximately 12,500 miles of pipelines that gather and transport refined petroleum products, crude oil, natural gas, liquefied petroleum gases (LPGs) and natural gas liquids, and includes one of the largest common carrier pipelines for refined petroleum products and LPGs in the United States. TEPPCO's storage assets include approximately 27 million barrels of capacity for refined petroleum products and LPGs and about 14 million barrels of capacity for crude oil. TEPPCO also owns a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems, and in the Gulf of Mexico. For more information, visit TEPPCO's website. Texas Eastern Products Pipeline Company, LLC, the general partner of TEPPCO Partners, L.P., is owned by Enterprise GP Holdings (NYSE:EPE).
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. These risks and uncertainties include, among other things, insufficient cash from operations, market conditions, governmental regulations and factors discussed in TEPPCO 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.
Source: TEPPCO Partners, L.P.
TEPPCO Partners, L.P.
Mark G. Stockard, 713-381-4707 (Investor Relations)
Toll Free: 800-659-0059
Rick Rainey, 713-381-3635 (Media Relations)