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LAKEHEAD PIPE LINE PARTNERS, L.P. ANNOUNCES 1991 FINANCIAL RESULTS

 LAKEHEAD PIPE LINE PARTNERS, L.P. ANNOUNCES 1991 FINANCIAL RESULTS
 SUPERIOR, Wis., Feb. 12 /PRNewswire/ -- Lakehead Pipe Line Partners, L.P. (NYSE: LHP) (the "partnership") today announced net income of $636,000 for the five-day period ended Dec. 31, 1991. The partnership's operating revenue for the same period was $2,972,000, and its operating income was $1,242,000. No business activities were conducted by the partnership prior to Dec. 27, 1991.
 The partnership also announced that the cash distribution for the period Dec. 27 to Dec. 31, 1991 will be $0.03 per Preference Unit, which is based on the prorated Minimum Quarterly Distribution. This distribution, as previously noted in the Prospectus of the partnership's initial public offering, will be paid with the cash distribution for the fiscal quarter ending March 31, 1992. These distributions will be combined and made on or before May 15, 1992 to Preference Unitholders of record April 30, 1992.
 During the year ended Dec. 31, 1991, pipeline system deliveries of crude oil and other liquid hydrocarbons averaged 1,211,000 barrels per day. System utilization during the same period totalled 340 billion barrel miles.
 The partnership was formed to acquire the pipeline business formerly owned and operated by Lakehead Pipe Line Co. Inc. ("Lakehead"). The transfer of Lakehead's pipeline business to the partnership was effective Dec. 27, 1991. An 80.4 percent interest in the partnership is held by the public in the form of 17,890,000 Preference Units. Lakehead retains a 19.6 percent interest in the partnership and continues to operate the pipeline system as general partner.
 The Preference Units of the partnership are traded on the New York Stock Exchange under the ticker symbol "LHP."
 -0- 2/12/92
 /CONTACT: Jon Staudohar of Lakehead Pipe Line Partners, L.P., 715-394-1404/
 (LHP) CO: Lakehead Pipe Line Partners, L.P. ST: Wisconsin IN: OIL SU: ERN


AL -- LA023 -- 9459 02/12/92 17:34 EST
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Publication:PR Newswire
Date:Feb 12, 1992
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