Enterprise Prods Partners L P SEC Filings

Enterprise Products Partners L.P. reported that the closing of ExxonMobil’s acquisition of a 40-percent undivided joint interest in Enterprise’s Bahia natural gas liquids pipeline has been completed as of December 15, 2025. This confirms that ExxonMobil now holds a significant ownership stake in the Bahia natural gas liquids pipeline alongside Enterprise.

Enterprise Products Partners L.P. executive Michael C. Hanley, EVP & Chief Commercial Officer, reported updated equity holdings as of December 1, 2025. He beneficially owns 135,524.5122 common units representing limited partnership interests.

Hanley also holds several grants of phantom units, each economically equivalent to one EPD common unit. Existing phantom unit awards cover 8,750, 20,000, 28,125 and 32,500 underlying common units, with remaining installments vesting annually beginning February 16, 2026, over one to four years depending on the grant. A new award of 100,000 phantom units was acquired on December 1, 2025 and is scheduled to vest on February 16, 2030, then settle in an equal number of EPD common units.

Enterprise Products Partners L.P. executive vice president and chief commercial officer Michael C. Hanley reported his ownership of the company’s equity. He directly holds 135,524.5122 common units representing limited partnership interests.

He also holds several grants of phantom units, each economically equivalent to one EPD common unit. These include 8,750 phantom units that vest in one remaining annual installment on February 16, 2026, and additional grants of 20,000, 28,125 and 32,500 phantom units that vest in multiple equal annual installments beginning on February 16, 2026, with each installment settling in an equal number of common units.

Enterprise Products Partners L.P. (EPD) reported a leadership change in its commercial organization. The board of directors of the partnership’s general partner has elected Michael C. “Tug” Hanley as Executive Vice President and Chief Commercial Officer, effective December 1, 2025. This role typically oversees commercial strategy, customer relationships, and growth initiatives across the business.

The announcement was made through a press release dated November 20, 2025, which is included as Exhibit 99.1 to this report. No financial results, transactions, or changes to the partnership’s capital structure are described in this update; the focus is on senior management alignment for the company’s commercial activities.

Enterprise Products Partners L.P. (EPD) announced that it has executed an agreement for ExxonMobil to acquire a 40% undivided joint interest in Enterprise’s Bahia natural gas liquids pipeline. ExxonMobil will contribute its proportionate share of Bahia project costs to date, or approximately $650 million, subject to customary adjustments, with closing subject to regulatory approvals and expected by early 2026.

After closing, Enterprise and ExxonMobil plan to expand Bahia’s capacity by adding pumping capacity and building a 92‑mile extension to ExxonMobil’s Cowboy natural gas processing plant in Eddy County, New Mexico. ExxonMobil will own a 70% interest in this extension, which is expected to be completed in the fourth quarter of 2027, while Enterprise will operate the combined system.

Enterprise Products Partners L.P. completed a public reopening of investment-grade senior notes issued by Enterprise Products Operating LLC: $300.0 million of 4.30% notes due 2028, $600.0 million of 4.60% notes due 2031, and $750.0 million of 5.20% notes due 2036. The notes are guaranteed on an unsecured, unsubordinated basis by the Partnership and form single series with the original June 2025 issuances.

The notes carry typical make-whole provisions before their respective par call dates and are redeemable at par thereafter. According to the prospectus, net proceeds are expected to be used for general company purposes, growth capital and acquisitions, and to repay debt, including EPO’s $750.0 million 5.05% notes due January 2026, $875.0 million 3.70% notes due February 2026, and amounts under the commercial paper program.

Enterprise Products Operating LLC, unconditionally guaranteed by Enterprise Products Partners L.P., is offering additional senior notes in three tranches: $300,000,000 4.30% notes due June 20, 2028; $600,000,000 4.60% notes due January 15, 2031; and $750,000,000 5.20% notes due January 15, 2036. The additional notes will form single series with the existing 2028, 2031 and 2036 notes and trade interchangeably after settlement.

Pricing terms include public offering prices of 100.630% (2028), 100.693% (2031) and 101.185% (2036), yielding proceeds to the issuer of $300,840,000, $600,558,000 and $754,012,500, respectively, before expenses. Aggregate net proceeds are approximately $1.65 billion.

Proceeds will be used for general company purposes, including growth capital and acquisitions, and to repay debt, including $750 million Senior Notes FFF due January 2026, $875 million Senior Notes PP due February 2026, and amounts under the commercial paper program. The notes are unsecured, rank pari passu with other unsecured unsubordinated debt, and will not be listed on any exchange. Optional redemption terms apply as described.

Enterprise Products Partners (EPD) filed its Q3 2025 report, showing steady operating performance amid lower commodity prices. Total revenues were $12,023 million versus $13,775 million a year ago, while net income attributable to common unitholders was $1,338 million compared with $1,417 million. Basic EPS was $0.61 (unchanged diluted), and operating income was $1,686 million.

For the first nine months, cash flow from operating activities reached $6,113 million, supporting capital spending of $4,319 million. The partnership paid $3,499 million in cash distributions to common unitholders and repurchased $250 million of units under the 2019 buyback program. Long‑term debt was $31,114 million with current maturities of $2,464 million; commercial paper outstanding was $840 million. Cash and restricted cash totaled $432 million at period end. Property, plant and equipment, net, was $51,511 million.

Common units outstanding were 2,163,126,578 as of September 30, 2025. As context, there were 2,163,321,050 units outstanding at October 31, 2025. EPD recorded a modest gain on the sale of its 25% stake in Transport 4 during June.

Enterprise Products Partners L.P. increased its multi-year 2019 common unit buyback authorization from $2.0 billion to $5.0 billion. After the increase, the remaining available capacity under the program is $3.6 billion. The program permits repurchases from time to time, including open market and negotiated transactions.

The Partnership also furnished a press release with financial and operating results for the three months ended September 30, 2025, and plans a webcast conference call to discuss those results. The buyback expansion was announced on October 30, 2025.