UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): September 20, 2006
ENERGY TRANSFER EQUITY, L.P.
(Exact name of registrant as specified in its charter)
| Delaware | 001-32740 | 30-0108820 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) | (IRS. Employer Identification No.) |
2828 Woodside Street
Dallas, Texas 75204
(Address of principal executive offices, including zip code)
214-981-0700
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 8.01. | Other Events. |
On September 20, 2006, Energy Transfer Partners, L.P., a subsidiary of Energy Transfer Equity, L.P., issued a press release announcing its new construction projects. A copy of the press release is being furnished as an exhibit to this report and is incorporated herein by reference.
On September 25, 2006, Energy Transfer Equity, L.P. issued a press release announcing an increase in its quarterly distribution to unitholders. A copy of this press release is being furnished as an exhibit to this report and is incorporated herein by reference.
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | The following exhibits are being furnished herewith: |
| Exhibit No. | Description | |
| 99.1 | Press Release of Energy Transfer Partners, L.P. dated September 20, 2006, announcing its new construction projects. | |
| 99.2 | Press Release of Energy Transfer Equity, L.P., dated September 25, 2006, announcing an increase in its quarterly distribution to unitholders. | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| ENERGY TRANSFER EQUITY, L.P. | ||
| By: LE GP, LLC, its general partner | ||
| By: | /s/ John W. McReynolds | |
| John W. McReynolds, | ||
| President and Chief Financial Officer | ||
Dated: September 25, 2006
EXHIBIT INDEX
| Exhibit No. | Description | |
| 99.1 | Press Release of Energy Transfer Partners, L.P., dated September 20, 2006, announcing its new construction projects. | |
| 99.2 | Press Release of Energy Transfer Equity, L.P., dated September 25, 2006, announcing an increase in its quarterly distribution to unitholders. | |
Exhibit 99.1
PRESS RELEASE
ENERGY TRANSFER PARTNERS, L.P. ANNOUNCES
PIPELINE EXPANSION AND NATURAL GAS PROCESSING FACILITY
Dallas, Texas – September 20, 2006 – Energy Transfer Partners, L.P. (NYSE:ETP) announces two internal growth projects, a natural gas processing facility in Johnson County, Texas and a 36-inch pipeline expansion connecting the Barnett Shale to the ETP 30” Texoma pipeline.
The processing facility is being built in two phases to process rich natural gas produced from the Barnett Shale and will connect with the Partnership’s existing pipeline infrastructure. Phase I consists of a cryogenic gas plant with capacity of 115 MMcf per day, which is expected to be in service by the end of November, 2006. Phase II of the project includes another 170 MMcf per day cryogenic gas plant and a 100 MMcf per day hydrocarbon dew point refrigeration plant, and is expected to be completed by the end of the June 2007. The facility is being built to accommodate additional expansion in the future.
This Facility will be one of the few North Texas natural gas processing plants with access to two NGL pipeline outlets. “The Partnership currently has over 300 MMcf per day under predominately fee based contracts for this facility. These plants are necessary to meet the growing demand for processing capacity in the rich Barnett Shale production”, said Tim Dahlstrom, Senior Vice-President - Midstream. The cost for this project is approximately $65 million.
The 36-inch pipeline expansion is the result of the Partnership’s continued success in contracting transportation volumes. This 135 mile pipeline connects the Partnership’s existing Fort Worth Basin system to its 30” Texoma pipeline in Lamar County, Texas. The project expands producers’ options by providing additional market opportunities including the Carthage hub, interstate pipelines and industrial users along the Houston Ship Channel. It includes 27 miles of 30-inch pipe, 108 miles of 36-inch pipe and 64,000 horsepower of compression with an initial capacity of 700 MMcf per day with expansion capabilities up to 1.0 Bcf per day. This project will cost approximately $300 million to construct.
Energy Transfer Partners, L.P. is a publicly traded partnership owning and operating a diversified portfolio of energy assets. The Partnership’s natural gas transportation and storage operations include 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. This includes approximately 11,700 miles of pipeline in service, with an additional 550 miles under construction. The Partnership is one of the three largest retail marketers of propane in the United States, serving more
than one million customers from approximately 440 customer service locations in 40 states extending from coast to coast and Alaska.
Energy Transfer Equity, L.P. (NYSE:ETE) owns the general partner and approximately 36.4 million Common Units of Energy Transfer Partners, L.P.
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 Partnership’s Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. The Partnership 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 Partnership’s website at www.energytransfer.com.
Contacts:
Investor Relations:
Renee Lorenz
Energy Transfer Partners, L.P.
214-981-0700
Media Relations:
Vicki Granado
Gittins & Granado
214-361-0400
EXHIBIT 99.2
PRESS RELEASE
ENERGY TRANSFER EQUITY, L.P.
DECLARES 31% INCREASE IN UNITHOLDER DISTRIBUTION
Dallas, Texas – September 25, 2006 – Energy Transfer Equity, L.P. (NYSE:ETE) today announced a $0.30 increase in the annual cash distribution payable on the Partnership’s outstanding limited partner units, raising the annual distribution rate per unit to $1.25. This latest increase, which represents a 31 percent increase from the previous quarter, will go into effect with the Partnership’s next quarterly distribution for the quarter ending August 31, 2006, making the quarterly distribution for such quarter equal to $0.3125 per common unit. The new quarterly distribution of $0.3125 per common unit will be paid on October 19, 2006 to Unitholders of record as of the close of business on October 5, 2006.
ETE owns the general partner interest, 50% of the incentive distribution rights and approximately 36.4 million common units of Energy Transfer Partners, L.P. (NYSE:ETP).
ETP is a publicly traded partnership owning and operating a diversified portfolio of energy assets. ETP’s natural gas transportation and storage operations include 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. This includes approximately 11,700 miles of pipeline in service, with an additional 550 miles under construction. ETP is one of the three largest retail marketers of propane in the United States, serving more than one million customers from approximately 440 customer service locations in 40 states extending from coast to coast and Alaska.
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 ETE’s prospectus dated February 3, 2006 and other documents filed from time to time with the Securities and Exchange Commission. ETE 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 our website at www.energytransfer.com. For more information, please contact John W. McReynolds, President and Chief Financial Officer, at 214-981-0700.
| Company | : Energy Transfer Equity, L.P. (NYSE:ETE) | |
| Record Date | : October 5, 2006 | |
| Payment Date | : October 19, 2006 | |
| Amount Paid | : $0.3125 per Limited Partner Unit |