-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UdBIZkjFhPZsUPmE63rlKMNE3XmTlPmVm4VJaNm2VkoKpQb+UF02Xx55K0b/YWWQ 8TE+07UctcpbL5lhllXgPA== 0001104659-03-027316.txt : 20031124 0001104659-03-027316.hdr.sgml : 20031124 20031124142414 ACCESSION NUMBER: 0001104659-03-027316 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20031119 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20031124 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ENBRIDGE ENERGY PARTNERS LP CENTRAL INDEX KEY: 0000880285 STANDARD INDUSTRIAL CLASSIFICATION: PIPE LINES (NO NATURAL GAS) [4610] IRS NUMBER: 391715850 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10934 FILM NUMBER: 031020366 BUSINESS ADDRESS: STREET 1: 21 W SUPERIOR ST STE 400 STREET 2: LAKE SUPERIOR PLACE CITY: DULUTH STATE: MN ZIP: 55802-2067 BUSINESS PHONE: 2187250100 MAIL ADDRESS: STREET 1: LAKE SUPERIOR PL STREET 2: 21 WEST SUPERIOR ST CITY: DULUTH STATE: MN ZIP: 55802-2067 FORMER COMPANY: FORMER CONFORMED NAME: LAKEHEAD PIPE LINE PARTNERS L P DATE OF NAME CHANGE: 19930328 8-K 1 a03-5813_18k.htm 8-K

 

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): November 19, 2003

 

 

ENBRIDGE ENERGY PARTNERS, L.P.

(Exact name of registrant as specified in charter)

 

DELAWARE

 

1-10934

 

39-1715850

(State of Incorporation)

 

(Commission File No.)

 

(I.R.S. Employer Identification No.)

 

 

 

 

 

1100 LOUISIANA

 

 

 

 

SUITE 3300

 

 

 

 

HOUSTON, TEXAS

 

 

 

77002

(Address of Principal Executive Offices)

 

 

 

(Zip Code)

 

REGISTRANT’S TELEPHONE NUMBER, INCLUDING AREA CODE: (713) 821-2000

 

 



 

ITEM 5.   OTHER EVENTS.

 

On November 19, 2003, Enbridge Energy Partners, L.P., a Delaware limited partnership, issued a press release announcing the execution of a definitive purchase agreement to acquire natural gas gathering and processing assets in North Texas from Cantera Resources Inc., an affiliate of Morgan Stanley Capital Partners, for $247.0 million in cash.  A copy of the press release is attached as Exhibit 99.1 to this Form 8-K.

 

ITEM 7.   FINANCIAL STATEMENTS AND EXHIBITS.

 

(c)

Exhibits.

 

 

 

 

 

99.1

Press Release of Enbridge Energy Partners, L.P., dated November 19, 2003.

 

 

2



 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

ENBRIDGE ENERGY PARTNERS, L.P.

 

 

 

By:

Enbridge Energy Management, L.L.C.

 

 

as delegate of Enbridge Energy Company,
Inc., its General Partner

 

 

 

 

Date: November 24, 2003

By:

/s/     JODY L. BALKO

 

 

 

 

Jody L. Balko
Controller
(Duly Authorized Officer)

 

3


EX-99.1 3 a03-5813_1ex99d1.htm EX-99.1

Exhibit 99.1

 

 

NEWS RELEASE

 

Enbridge Energy Partners Agrees to $247 Million Purchase of Natural Gas Facilities in North Texas

 

Houston, November 19, 2003 – Enbridge Energy Partners, L.P. (NYSE:EEP) (“Enbridge Partners” or the “Partnership”) today announced that it has signed a definitive purchase agreement to acquire natural gas gathering and processing assets in North Texas from Cantera Resources, Inc., an affiliate of Morgan Stanley Capital Partners, for $247 million in cash.  Enbridge Partners anticipates the acquisition will close by the end of 2003, subject to customary closing conditions including regulatory approvals, and the facilities will thereafter be named the North Texas System.

 

The System primarily serves the Fort Worth Basin, including growing production from the Barnett Shale zone.  Natural gas throughput on the System currently averages approximately 170 million cubic feet per day (“MMcfd”).  System facilities include more than 2000 miles of gas gathering pipeline and five active processing plants with aggregate processing capacity of 217 MMcfd.

 

The North Texas System derives the majority of its revenues from the sharing of sales proceeds of natural gas and natural gas liquids under contracts with natural gas producers.  The direct commodity price exposure inherent in such contracts will be suitably mitigated through a hedging strategy.  The remainder of the revenue is derived from fees charged for gathering and treating of natural gas volumes and other related services.

 

“Acquisition of the North Texas System furthers one of Enbridge Partners’ key strategic thrusts; to expand our natural gas gathering and processing footprint in the U.S. Mid-Continent and Gulf Coast,” said Dan C. Tutcher, President of the Partnership’s management company and general partner.  “We are particularly pleased to be adding assets with access to the prolific Barnett Shale gas play to the Partnership’s portfolio, as this should benefit us in two ways.  First, we expect the North Texas acquisition will be immediately accretive to the Partnership’s distributable cash flow and should provide modest growth over the next several years.  Second, we believe that local markets for Fort Worth Basin production are nearing saturation and additional market outlets will be required.  The Partnership’s proposed new East Texas System transmission line provides a logical alternative to deliver into the major Carthage, Texas natural gas hub, if suitable interconnections are developed between the North and East Texas Systems.”

 

About Enbridge Partners

 

Enbridge Energy Partners, L.P. (www.enbridgepartners.com) indirectly owns the U.S. portion of the world’s longest liquid petroleum pipeline and is active in natural gas gathering, processing and transmission.  Enbridge Energy Management, L.L.C. (NYSE: EEQ)

 



 

(www.enbridgemanagement.com) manages the business and affairs of Enbridge Partners and its principal asset is an approximate 19% interest in Enbridge Partners.

 

Enbridge Energy Company, Inc., an indirect wholly owned subsidiary of Enbridge Inc. of Calgary, Alberta, is the General Partner of Enbridge Partners in which it holds an approximate 13% effective interest.  Enbridge Inc. (www.enbridge.com) common shares are traded on the Toronto Stock Exchange and on the New York Stock Exchange under the symbol “ENB.”

 

Investor Relations contact:

 

Media contact:

Tracy Barker

 

Larry Springer

Toll-free: (866) EEP INFO or (866) 337-4636

 

Telephone: (713) 821-2253

E-mail: investor@enbridgepartners.com

 

E-mail: media@enbridgepartners.com

 

About Morgan Stanley Capital Partners

 

Morgan Stanley Capital Partners (www.morganstanley.com/privateequity) is the private equity business of Morgan Stanley (NYSE: MWD).  Since its founding 18 years ago, Morgan Stanley Capital Partners has invested $6.6 billion of equity capital across a broad range of sectors including industrials, healthcare, financial services, consumer products, media/communications and energy.  Morgan Stanley Capital Partners’ other current mid-stream investments include Canyon Gas Resources and Cantera Natural Gas.

 

Legal Notice

 

When used in this news release, words such as “anticipates”, “estimates”, “expects”, “forecasts” and similar expressions are intended to identify forward-looking statements relating to the pending acquisition.  Such statements are subject to certain risks, uncertainties and assumptions pertaining to factors such as: (1) changes in the demand for, or the supply of, and price trends related to natural gas and NGLs; (2) the effects of competition, including by other pipeline systems; (3) regulatory approvals; (4) obtaining financing; and (5) performance of other parties.  Reference should also be made to Enbridge Partners’ filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the most recently completed fiscal year, for additional factors that may affect results.  These filings are available to the public over the Internet at the SEC’s web site (www.sec.gov) and via Enbridge Partners’ web site (www.enbridgepartners.com).

 

###

 


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