Energy Transfer Partners, L.P. Completes Final Step in the Acquisition of the Transwestern Pipeline.DALLAS -- Energy Transfer Partners, L.P. (NYSE NYSE See: New York Stock Exchange :ETP ETP Eligible Termination Payment (Australian finance) ETP Equivalent Temps Plein (French: Full Time Equivalent) ETP European Technology Platform ETP Employment Training Panel ) announces that it has completed the final step in its previously announced acquisition of the Transwestern Pipeline. Previously, in a transaction that closed on November 1, 2006, ETP acquired a 50% interest in CCE Holdings, LLC (CCEH CCEH Center for Children's Environmental Health CCEH Center for Coastal Ecosystem Health ). In the December 1, 2006, transaction, CCEH redeemed ETP's 50% interest in exchange for 100% ownership of the Transwestern Pipeline. Following this final step, Transwestern Pipeline Company, LLC became a new operating subsidiary of ETP. In connection with the just-completed transaction, ETP assumed $520 million of indebtedness at Transwestern Pipeline Company and received cash of approximately $55 million. The Transwestern Pipeline is a 2,500-mile interstate natural gas pipeline system that connects supply areas in the San Juan Basin The San Juan Basin is a drainage basin and geologic structural basin in the Four Corners region of the Southwestern United States; its main portion covers around 4,600 square miles, encompassing much of northwestern New Mexico, northeastern Arizona, and parts of Colorado and Utah. in southern Colorado and northern New Mexico Northern New Mexico may simply mean the northern part of New Mexico, but in cultural terms it usually means the area of heavy Spanish settlement in the north-central part. , the Anadarko Basin in the Mid-continent and the Permian Basin in west Texas to markets in the Midwest, Texas, Arizona, New Mexico and California. The Transwestern Pipeline interconnects to ETP's existing intrastate pipelines in west Texas as well as other intrastate and interstate pipelines in west Texas. Energy Transfer Partners, L.P. is a publicly traded partnership Publicly Traded Partnership A limited partnership that also has interests traded in the equity securities market. Notes: This is also known as a master limited partnership. See also: Master Limited Partnership, Partnership, Public Company owning and operating a diversified portfolio of energy assets. ETP's natural gas transportation and storage operations include intrastate natural gas gathering and transportation pipelines, natural gas treating and processing assets located in Texas and Louisiana, and three natural gas storage facilities located in Texas. These assets include approximately 12,000 miles of intrastate pipeline in service, with an additional 600 miles of intrastate pipeline under construction, and 2,500 miles of interstate pipelines. ETP is one of the three largest retail marketers of propane in the United States, serving more than one million customers from approximately 442 customer service locations in 41 states extending from coast to coast. Energy Transfer Equity, L.P. (NYSE:ETE) owns the general partner interest, 100% of the incentive distribution rights in the general partner, and approximately 36.4 million Common Units and 26.1 million Class G Units of Energy Because energy is defined via work, the SI unit for energy is the same as the unit of work – the joule (J), named in honour of James Prescott Joule and his experiments on the mechanical equivalent of heat. Transfer Partners, L.P. The information contained in this press release is available on the ETP's website at www.energytransfer.com. |
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