Enterprise and Energy Transfer Form Joint Venture to Restore Service on Old Ocean Pipeline

HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE: EPD) and Energy Transfer Partners, L.P. (NYSE: ETP) today announced the formation of 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.