Energy Transfer Partners Announces Expansion of Tiger Pipeline/Energy Transfer Partners and Energy Transfer Equity Announce Earnings Release and Conference Call Dates
Energy Transfer Partners Announces Expansion of Tiger Pipeline/Energy Transfer Partners and Energy Transfer Equity Announce Earnings Release and Conference Call Dates
February 10, 2010 at 5:19 PM EST
DALLAS, TEXAS — February 10th, 2010 — Energy Transfer Partners, L.P. (NYSE:ETP) today announced the expansion of the planned Tiger Pipeline that will service the Haynesville Shale producing region in Louisiana and East Texas. Energy Transfer has entered into a binding, 10-year agreement with the expansion's foundation shipper for 400 million cubic feet per day of capacity, bringing the pipeline's long-term contractual commitments to 2.4 billion cubic feet per day. Energy Transfer will launch a binding open season later this month to solicit additional shipper interest in the Tiger Pipeline expansion. Ultimate capacity of the expansion will be based upon producer response.
"We are pleased to have this opportunity to expand the Tiger Pipeline," said Lee Hanse, Senior Vice President – Interstate Division. "This long-term commitment, coupled with additional interest from other producers in the area, reinforces the need for this expansion project. The Tiger Pipeline system will further extend Energy Transfer's expansive natural gas pipeline network, which provides shippers with unprecedented access from production basins to markets throughout the country."
The approximately 180-mile, 42-inch Tiger natural gas pipeline system, which was announced in January 2009, will serve the Haynesville Shale producing region in Louisiana and the Carthage Hub area in East Texas and will have interconnects with 7 major interstate pipelines serving the eastern half of the United States. The pipeline is expected to be in service the first half of 2011, and the expansion is expected to be completed in the second half of 2011. The construction of the pipeline and expansion project are subject to receipt of approval from the Federal Energy Regulatory Commission.
Those interested in obtaining more information on the open season may contact Luke Fletcher at (210) 403-6492 or luke.fletcher@energytransfer.com, or Lee Hanse at (210) 403-6455 or lee.hanse@energytransfer.com. Information is also available at www.energytransfer.com.
Fourth Quarter 2009 Earnings Release Date and Conference Call Date:
Energy Transfer Partners, L.P. and Energy Transfer Equity, L.P. expect to release earnings for the quarter ended December 31, 2009 on Thursday, February 18, 2010. ETP and ETE will conduct a joint conference call on Friday, February 19, 2010 at 2:00 p.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.
Tiger Expansion/page 2
Energy Transfer Partners, L.P. (NYSE:ETP) is a publicly traded partnership owning and operating a diversified portfolio of energy assets. ETP has pipeline operations in Arizona, Colorado, Louisiana, New Mexico, and Utah, and owns the largest intrastate pipeline system in Texas. ETP's natural gas operations include gathering and transportation pipelines, treating and processing assets, and three storage facilities located in Texas. ETP currently has more than 17,500 miles of pipeline in service and has a 50% interest in joint ventures that have approximately 500 miles of interstate pipeline in service. ETP is also one of the three largest retail marketers of propane in the United States, serving more than one million customers across the country.
Energy Transfer Equity, L.P. (NYSE:ETE) is a publicly traded partnership, which owns the general partner of Energy Transfer Partners, L.P. and approximately 62.5 million ETP limited partner units.
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 ETP's Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. ETP undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.
The information contained in this press release is available on the Partnerships' website at www.energytransfer.com.
Investor Relations:
Brent Ratliff
Energy Transfer
(214) 981-0700 (office)
Media Relations:
Vicki Granado
Granado Communications Group
(214) 504-2260 (office)
(214) 498-9272 (cell)
"We are pleased to have this opportunity to expand the Tiger Pipeline," said Lee Hanse, Senior Vice President – Interstate Division. "This long-term commitment, coupled with additional interest from other producers in the area, reinforces the need for this expansion project. The Tiger Pipeline system will further extend Energy Transfer's expansive natural gas pipeline network, which provides shippers with unprecedented access from production basins to markets throughout the country."
The approximately 180-mile, 42-inch Tiger natural gas pipeline system, which was announced in January 2009, will serve the Haynesville Shale producing region in Louisiana and the Carthage Hub area in East Texas and will have interconnects with 7 major interstate pipelines serving the eastern half of the United States. The pipeline is expected to be in service the first half of 2011, and the expansion is expected to be completed in the second half of 2011. The construction of the pipeline and expansion project are subject to receipt of approval from the Federal Energy Regulatory Commission.
Those interested in obtaining more information on the open season may contact Luke Fletcher at (210) 403-6492 or luke.fletcher@energytransfer.com, or Lee Hanse at (210) 403-6455 or lee.hanse@energytransfer.com. Information is also available at www.energytransfer.com.
Fourth Quarter 2009 Earnings Release Date and Conference Call Date:
Energy Transfer Partners, L.P. and Energy Transfer Equity, L.P. expect to release earnings for the quarter ended December 31, 2009 on Thursday, February 18, 2010. ETP and ETE will conduct a joint conference call on Friday, February 19, 2010 at 2:00 p.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.
Tiger Expansion/page 2
Energy Transfer Partners, L.P. (NYSE:ETP) is a publicly traded partnership owning and operating a diversified portfolio of energy assets. ETP has pipeline operations in Arizona, Colorado, Louisiana, New Mexico, and Utah, and owns the largest intrastate pipeline system in Texas. ETP's natural gas operations include gathering and transportation pipelines, treating and processing assets, and three storage facilities located in Texas. ETP currently has more than 17,500 miles of pipeline in service and has a 50% interest in joint ventures that have approximately 500 miles of interstate pipeline in service. ETP is also one of the three largest retail marketers of propane in the United States, serving more than one million customers across the country.
Energy Transfer Equity, L.P. (NYSE:ETE) is a publicly traded partnership, which owns the general partner of Energy Transfer Partners, L.P. and approximately 62.5 million ETP limited partner units.
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 ETP's Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. ETP undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.
The information contained in this press release is available on the Partnerships' website at www.energytransfer.com.
Investor Relations:
Brent Ratliff
Energy Transfer
(214) 981-0700 (office)
Media Relations:
Vicki Granado
Granado Communications Group
(214) 504-2260 (office)
(214) 498-9272 (cell)