Duncan Energy Partners L.P. Sells Additional Units.HOUSTON -- Duncan Energy Partners L.P. (NYSE NYSE See: New York Stock Exchange :DEP DEP Deposit DEP Deputy DEP Department of Environmental Protection DEP Dependent DEP Departure DEP Depot DEP Deposition DEP deployed (US DoD) DEP Data Execution Prevention (computer security) ) today announced that the underwriters of DEP's initial public offering have exercised their option to purchase an additional 1,950,000 common units at the initial offering price of $21.00 per common unit. Duncan Energy Partners will use all of the net proceeds from the sale of the additional common units, after deducting underwriting discounts and commissions, to redeem an equal number of common units from an affiliate of Enterprise Products Partners L.P. (NYSE:EPD EPD expected progeny difference. ). As a result of the transactions, the affiliate of Enterprise Products Partners L.P. will own an aggregate of 5,351,571 common units representing approximately 26.4 percent of the outstanding common units of Duncan Energy Partners. The consummation of these transactions is expected to occur Feb. 5, 2007, concurrently with the closing of the initial public offering. A written prospectus for the offering may be obtained from: Lehman Brothers Inc., c/o ADP (1) (Automatic Data Processing) Synonymous with data processing (DP), electronic data processing (EDP) and information processing. (2) (Automatic Data Processing, Inc., Roseland, NJ, www.adp. Financial Services, Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717 (Email: monica_castillo@adp.com) (Fax: 631-254-7268); or UBS Investment Bank, 299 Park Avenue, New York, NY 10171, Attention: Prospectus Department (Telephone: 212-821-3000). Duncan Energy Partners L.P. is a publicly traded energy partnership that provides midstream energy services, including gathering, transportation, marketing and storage of natural gas, in addition to transportation and storage of natural gas liquids (NGLs) and petrochemicals. DEP's assets, which are located primarily in the Gulf Coast region of Texas and Louisiana, include interests in more than 1,000 miles of natural gas pipelines with a transportation capacity of approximately 1 billion cubic feet per day; nearly 600 miles of NGL NGL - A dialect of IGL. and petrochemical pipelines featuring access to the world's largest fractionation fractionation /frac·tion·a·tion/ (frak?shun-a´shun) 1. in radiology, division of the total dose of radiation into small doses administered at intervals. 2. complex at Mont Belvieu, Texas Mont Belvieu is a city in Chambers County, Texas, United States. It is just north of Interstate 10 along State Highway 146. The population was 2,324 at the 2000 census. Geography Mont Belvieu is located at (29.860242, -94. ; and 33 underground salt dome caverns with about 100 million barrels of NGL storage capacity. |
|
||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion