Replies to post #115 on Enbridge Energy Partners, L.P. (EEP)

[johnsyn]

Interesting- 4:33 PM Enbridge Energy (EEP) announces plans for initial public offering of Midcoast Energy Partners, a proposed MLP whose initial asset will consist of a ~40% ownership interest in EEP's existing natural gas and NGL midstream business. EEP expects Midcoast to raise $400M-$500M in the offering

[Timothy Smith]

$EEP - Most recent corporate developments:

In late April, Enbridge Energy Partners announced that the company plans to construct a 150 MMcf/d cryogenic natural gas processing plant in Panola County, Texas.

The addition of this plant will expand the Partnership's processing capacity to approximately 820 MMcf/d in the Cotton Valley and Haynesville shale regions.

The cost of this plant is estimated at $140 million. The construction is anticipated to begin in late 2013, and will be in-service by early 2015.

In late June, Enbridge Energy Partners announced that it exercised its options to decrease its economic interests in the Lakehead system expansions of both the Eastern Access and Mainline Expansion projects from 40% to 25%.

Enbridge Partners expects to receive approximately $100 million from its general partner related to the 15% of the capital it has funded to-date pursuant to these expansion projects. Final phases of the Eastern Access and Mainline Expansion projects are currently targeted for completion in 2016.

Additionally, Enbridge Energy Partners entered into an agreement with a subsidiary of Enbridge (ENB) whereby Enbridge will purchase the accounts receivables of certain of EEP's subsidiaries on a monthly basis through 2016 until EEP's large growth capital commitments are permanently funded.

It is anticipated that approximately $215 million of receivables will be purchased each month.