Vinson & Elkins advised Energy Transfer Partners, L.P. on the deal
Enterprise Products Partners L.P. (NYSE: EPD) and Energy Transfer Partners, L.P. (NYSE: ETP) have formed a 50/50 joint venture to resume service on the Old Ocean natural gas pipeline, which has been essentially idled since 2012. The 24-inch diameter pipeline, which originates at Maypearl, Texas in Ellis County and extends south approximately 240 miles to Sweeny, in Brazoria County, Texas, is expected to resume service in the second quarter of 2018. ETP will operate the pipeline. Additionally, both parties are in the process of expanding their jointly owned North Texas 36-inch Pipeline that will provide more capacity from West Texas for deliveries into the Old Ocean Pipeline. The North Texas Pipeline expansion project is expected to be complete by late fourth quarter of 2018.
Enterprise Products Partners, L.P. provides processing and transportation services to producers and consumers of natural gas liquids. The company, led by A James Teague, W Randall Fowler and Graham W Bacon, in 2017 recorded $29 Billion Revenues.
Energy Transfer Partners, L.P. (ETP) owns and operates a diversified portfolio of energy assets. The company, led by Kelcy L Warren, Matthew S Ramsey and Thomas E Long, in 2017 recorded $29 Billion revenues.
The V&E corporate team was led by partners Matt Strock (Picture) and Shay Kuperman with assistance from senior associate Danielle Patterson and associates Sara Bloom and Kathryn Hastings. Also advising was tax partner Joe Garcia.
Involved fees earner: Matthew Strock – Vinson & Elkins LLP; Danielle Mangrum Patterson – Vinson & Elkins LLP; Sara Bloom – Vinson & Elkins LLP; Kathryn Hastings – Vinson & Elkins LLP; Shay Kuperman – Vinson & Elkins LLP; Joe Garcia Jr. – Vinson & Elkins LLP;
Law Firms: Vinson & Elkins LLP;
Clients: Energy Transfer Partners LP;