Diversified Asset Base and Cost Efficiencies Driving Improved Results
Upside to Most Recent 3Q 2013 Distribution Increase
DALLAS--(BUSINESS WIRE)--Jan. 28, 2014--
Energy Transfer Partners, L.P. (NYSE:
ETP) today announced that its Board of Directors has approved a
quarterly distribution increase of $0.015 per ETP common unit for the
quarter ended December 31, 2013.
The ETP Board of Directors approved an increase in its quarterly
distribution to $0.92 per unit ($3.68 annualized) on ETP common units
for the quarter ended December 31, 2013. The quarterly distribution of
$0.92 represents an increase of $0.105 per common unit on an annualized
basis compared to December 31, 2012 and represents an annualized
increase of $0.06 per common unit compared to September 30, 2013. The
cash distribution will be paid on February 14, 2014 to unitholders of
record as of the close of business on February 7, 2014.
ETP and Energy Transfer Equity, L.P. (NYSE: ETE), who owns the general
partner of ETP, expect to release earnings for the quarter ended
December 31, 2013 on Wednesday, February 19, 2014, after the market
closes. ETP and ETE will conduct a joint conference call on Thursday,
February 20, 2014 at 8:30 a.m. Central Time to discuss their quarterly
results. The conference call will be broadcast live via an internet web
cast, which can be accessed through www.energytransfer.com.
The call will also be available for replay on Energy Transfer’s web site
for a limited time.
Company: Energy Transfer Partners, L.P. (NYSE:
ETP)
Record Date: February 7, 2014
Ex-Date:
February 5, 2014
Payment Date: February 14, 2014
Amount
Paid: $0.92 per Common Unit
Energy Transfer Partners, L.P. (NYSE: ETP) is a master limited
partnership owning and operating one of the largest and most diversified
portfolios of energy assets in the United States. ETP currently owns and
operates approximately 35,000 miles of natural gas and natural gas
liquids pipelines. ETP owns 100% of Panhandle Eastern Pipe Line Company,
LP (the successor of Southern Union Company) and Sunoco, Inc., and a 70%
interest in Lone Star NGL LLC, a joint venture that owns and operates
natural gas liquids storage, fractionation and transportation assets.
ETP also owns the general partner, 100% of the incentive distribution
rights, and approximately 33.5 million common units in Sunoco Logistics
Partners L.P. (NYSE: SXL), which operates a geographically diverse
portfolio of crude oil and refined products pipelines, terminalling and
crude oil acquisition and marketing assets. ETP’s general partner is
owned by ETE. For more information, visit the Energy Transfer Partners,
L.P. web site at www.energytransfer.com.
Energy Transfer Equity, L.P. (NYSE: ETE) is a master
limited partnership which owns the general partner and 100% of the
incentive distribution rights (IDRs) of Energy Transfer Partners, L.P.
(NYSE: ETP), approximately 49.6 million ETP common units, and
approximately 50.2 million ETP Class H Units, which track 50% of the
underlying economics of the general partner interest and IDRs of Sunoco
Logistics Partners L.P. (NYSE: SXL). ETE also owns the general partner
and 100% of the IDRs of Regency Energy Partners LP (NYSE: RGP) and
approximately 26.3 million RGP common units. The Energy Transfer family
of companies owns more than 56,000 miles of natural gas, natural gas
liquids, refined products, and crude oil pipelines. For more
information, visit the Energy Transfer Equity, L.P. web site at www.energytransfer.com.
Sunoco Logistics Partners L.P.(NYSE: SXL), headquartered
in Philadelphia, is a master limited partnership that owns and operates
a logistics business consisting of a geographically diverse portfolio of
complementary crude oil and refined product pipeline, terminalling, and
acquisition and marketing assets. SXL’s general partner is owned by
Energy Transfer Partners, L.P. (NYSE: ETP). For more information, visit
the Sunoco Logistics Partners, L.P. web site at www.sunocologistics.com.
Forward-Looking Statements
This press release may include certain statements concerning
expectations for the future that are forward-looking statements as
defined by federal law. Such forward-looking statements are subject to a
variety of known and unknown risks, uncertainties, and other factors
that are difficult to predict and many of which are beyond management’s
control. An extensive list of factors that can affect future results are
discussed in the Partnerships’ Annual Reports on Form 10-K and other
documents filed from time to time with the Securities and Exchange
Commission. The Partnerships undertake no obligation to update or revise
any forward-looking statement to reflect new information or events.
This release serves as qualified notice to nominees as provided for
under Treasury Regulation section 1.1446-4(b)(4) and (d). Please note
that 100 percent of Energy Transfer Partners, L.P.’s and Energy Transfer
Equity, L.P.’s distributions to foreign investors are attributable to
income that is effectively connected with a United States trade or
business. Accordingly, all of Energy Transfer Partners, L.P.’s and
Energy Transfer Equity, L.P.’s distributions to foreign investors are
subject to federal tax withholding at the highest applicable effective
tax rate. Nominees are treated as withholding agents responsible for
withholding distributions received by them on behalf of foreign
investors.
The information contained in this press release is available on our web
site at www.energytransfer.com.
Source: Energy Transfer Partners, L.P.
Investor Relations:
Energy Transfer
Brent Ratliff,
214-981-0700
or
Media Relations:
Granado
Communications Group
Vicki Granado, 214-599-8785
Cell:
214-498-9272