Rochester,NY 7/10/2009 12:43:44 AM
Afternoon Stock Report - TPP - TEPPCO Partners, L.P. to Suspend Its Distribution Reinvestment Plan - Sourced WhisperFromWallStreet.com
TEPPCO Partners LP
Afternoon Stock Report - TPP - TEPPCO Partners, L.P. to Suspend Its Distribution Reinvestment Plan - Sourced WhisperFromWallStreet.com
TEPPCO Partners LP, TPP
HOUSTON--(BUSINESS WIRE)--TEPPCO Partners, L.P. (NYSE:TPP - News) today announced that it has suspended the opportunity for investors to acquire additional limited partner units under the TEPPCO Partners, L.P. Distribution Reinvestment Plan. The suspension is pursuant to the terms of the definitive merger agreement with Enterprise Products Partners L.P. announced on June 29, 2009, and is expected to remain in place pursuant to such terms while the transaction is pending.
TEPPCO Partners, L.P. is a publicly traded energy logistics partnership with operations that span much of the continental United States. TEPPCO owns and operates an extensive network of assets that facilitate the movement, marketing, gathering and storage of various commodities and energy-related products. The partnership's midstream network is comprised of approximately 12,500 miles of pipelines that gather and transport refined petroleum products, crude oil, natural gas, liquefied petroleum gases (LPGs) and natural gas liquids, including one of the largest common carrier pipelines for refined petroleum products and LPGs in the United States. TEPPCO's storage assets include approximately 27 million barrels of capacity for refined petroleum products and LPGs and about 14 million barrels of capacity for crude oil.
Last Trade: 31.0016
Day's Range: 30.50 - 31.25
52wk Range: 16.90 - 34.02
Volume: 343,534
ABOUT - TEPPCO Partners LP
TEPPCO Partners, L.P., through its subsidiaries, operates common carrier pipelines of refined petroleum products and liquefied petroleum gases (LPGs). It also owns and operates a network of assets that facilitate the movement, marketing, gathering, and storage of commodities and energy-related products. The company has in four segments: Downstream, Upstream, Midstream, and Marine Services. The Downstream segment engages in the interstate transportation, storage, and terminaling of refined products and LPGs; intrastate transportation of petrochemicals; and distribution and marketing operations, such as terminaling services and other ancillary services. It operates an approximately 4,700-mile pipeline system, including 35 storage facilities extending from southeast Texas through the central and midwestern United States to the northeastern United States.
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