Enterprise Announces Bell's Retirement.Business/Energy Editors HOUSTON--(BUSINESS WIRE)--June 14, 2001 Enterprise Products Partners L.P. (NYSE NYSE See: New York Stock Exchange :EPD EPD expected progeny difference. ) announced that Albert W. Bell, president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of the company's Petrochemical petrochemical, any one of a large group of chemicals derived from a component of petroleum or natural gas. The cracking processes for manufacturing gasoline produce vast quantities of gaseous hydrocarbons. Division, has announced his retirement effective Aug. 3, 2001. O.S. "Dub" Andras, president and chief executive officer of Enterprise, will assume Bell's responsibilities. Bell joined Enterprise in 1980. During his career with the company, he served as vice president of Business Development and senior vice president, Business Management. He has served in his current capacity since 1999. Prior to joining Enterprise, Bell worked in management positions for Continental Emsco Supply Company, Ltd. and Amoco Canada Petroleum Company, Ltd. "Al has contributed significantly to Enterprise's growth and success over the past twenty-one years," stated Andras. "Al has had a distinguished career and is highly respected throughout the natural gas liquid and petrochemical industry. On behalf of all the employees and limited partners of Enterprise, I wish Al the best in his retirement." Andras continued, "Even though we will miss Al, through acquisitions, we have added experienced executives who have broadened and deepened our management team. We believe we have the team in place that can successfully manage our businesses and execute our growth strategy." Enterprise Products Partners L.P. is the second largest publicly traded, midstream mid·stream n. 1. The middle part of a stream. 2. The part of a course that is neither at the beginning nor at the end: the midstream of life. Noun 1. energy partnership with an enterprise value of approximately $4.1 billion. Enterprise is a leading provider of midstream energy services to producers and consumers of natural gas and natural gas liquids ("NGLs"). The company's services include natural gas transportation, processing and storage and NGL NGL - A dialect of IGL. 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. (or separation), transportation, storage and import/export terminalling. The company's assets are geographically focused on the United States' Gulf Coast, which accounts for approximately 55 percent of both domestic natural gas and NGL production and 75 percent of domestic NGL demand. This press release includes forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of Section 21E of the Securities Exchange Act of 1934 based on the beliefs of the company, as well as assumptions made by, and information currently available to, management. Although Enterprise believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. |
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