Subsequent Event (Notes)

6 Months Ended

Jun. 30, 2015

Subsequent Event [Abstract]

Subsequent Events [Text Block]

. Subsequent Events

In July 2015, we acquired the offshore pipeline and services business of Enterprise Products Operating, LLC and its affiliates for approximately $1.5 billion. That business includes assets of approximately 2,350 miles of offshore crude oil and natural gas pipelines and six offshore hub platforms that serve some of the most active drilling and development regions in the United States, including deepwater production fields in the Gulf of Mexico offshore Texas, Louisiana, Mississippi and Alabama. At the closing of that transaction, we entered into transition service agreements to facilitate a smooth transition of operations and uninterrupted services for both employees and customers. That acquisition complements and substantially expands our existing offshore pipelines segment.

To finance that transaction, in July, we sold 10,350,000 common units in a public offering that generated proceeds of $437.2 million net of underwriter discounts and $750 million aggregate principal amount of 6.75% senior unsecured notes due 2022 that generated proceeds of $728.6 million net of issuance discount and underwriting fees.