| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies |
| Enterprise Products Partners L.P. |
| 2727 North Loop West, Hous, TX * (713) 880-6500 |
| The company is a leading integrated provider of processing and transportation services to producers of NGLs and consumers of NGL products. |
| Manager | Tier | Phone |
| Lehman Brothers Incorporated | Lead Manager | (212) 526-8100 |
| A.G. Edwards & Sons, Inc. | Co-manager | (314) 955-3039 |
| Dain Rauscher Incorporated | Co-manager | (612) 371-2818 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| PaineWebber Incorporated | Co-manager | (212) 713-2626 |
| Prudential Securities Incorporated | Co-manager | (212) 778-5420 |
| Raymond James & Associates, Inc. | Co-manager | (813) 573-8108 |
| Salomon Smith Barney | Co-manager | (212) 723-7300 |
| NYSE: | EPD | Utilities: | SIC 4924 | |
| Type of Shares: | Common Units | Filing Date: | 5/13/98 | |
| U.S. Shares: | 12,000,000 | Offer Date: | 7/27/98 | |
| Non-U.S. Shares: | 0 | Filing Range: | $21.25 - $23.25 | |
| Primary Shares: | 12,000,000 | Offer Price: | $22.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.40 | |
| Offering Amount: | $267,000,000 | Selling: | $0.85 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Post-IPO Shares: | - |
| Issuer's Law Firm: | Vinson & Elkins |
| Bank's Law Firm: | Baker & Botts |
| Auditor: | Deloitte & Touche |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Audited Income | Balance Sheet | ||
| 12/31/97 | 12/31/97 | ||||
| Revenue: | $1,020.28 | Assets: | $698.26 | ||
| Net Income: | $53.94 | Curr Assets: | $127.40 | ||
| EPS: | Liabilities: | $415.84 | |||
| Prior EPS: | Curr Liab: | $191.90 | |||
| Cash Flow/Oper: | $60.09 | Equity: | $282.43 | ||
| Cash Flow/Fin: | $13.28 | Cash: | $18.94 | ||
| Cash Flow/Inv: | -$30.98 | Working Cap: | -$64.50 | ||
| Competition |
| The consumption of NGL products in the United States can be separated among four distinct markets. Petrochemical production provides the largest end-use market, followed by motor gasoline production, residential and commercial heating and agricultural uses. There are other hydrocarbon alternatives, primarily refined petroleum products, which can be substituted for NGL products in most end uses. In some uses, such as residential and commercial heating, a substitution of other hydrocarbon products for NGL products would require a significant expense or delay, but for other uses, such as production of ethylene, industrial fuels and petrochemical feedstocks, such a substitution can be made without significant delay or expense. Because certain NGL products are used in motor gasoline and compete with other refined petroleum products in the fuel and petrochemical feedstock markets, NGL product prices are set by or in competition with petroleum- derived products. Increased production and importation of NGLs and NGL products in the United States may decrease NGL product prices in relation to petroleum-based alternatives and thereby increase consumption of NGL products in the petrochemical feedstock market as NGL products are substituted for other more expensive refined products. Conversely, a decrease in both production and importation of NGLs and NGL products could increase NGL products prices in relation to petroleum-based alternatives and thereby decrease consumption of NGLs. However, because of the relationship of crude oil and natural gas production to NGL production, the Company believes that any imbalance in the prices of NGLs and NGL products and alternative products would be temporary. |
| Business Plan |
| The Company's business strategy is to manage its operations in a manner that will enable it to pay the Minimum Quarterly Distribution on all the Units and to increase the per Unit value of the Company's assets and cash flow. The Company intends to pursue this strategy principally by: (I) Capitalizing on Expected Increases in NGL Production, (ii) Expanding through Construction of Identified New Facilities, (iii) Investing with Strategic Partners and (iv) Minimizing Commodity Price Exposure. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for general corporate purposes. |