TEPPCO Partners, L.P. Declares Cash Distribution and Announces Earnings Call for Second Quarter 2009
July 17 2009 - 9:00AM
Business Wire
TEPPCO Partners, L.P. (NYSE:TPP) today declared a second quarter
cash distribution rate of $0.725 per unit, or $2.90 per unit on an
annualized basis. The distribution is payable August 7, 2009 to
unitholders of record on July 31, 2009, and covers the period April
1, 2009 through June 30, 2009.
TEPPCO will announce its second quarter 2009 financial results
on Thursday, July 30, 2009 before the start of trading on the New
York Stock Exchange. Following the announcement, the partnership
will host a conference call at 9 a.m. CDT to discuss its earnings
performance. The call will be broadcast live on the Internet and
may be accessed from the partnership�s website, www.teppco.com
under the �Investors� tab.
Those interested in listening to the webcast should log in at
least 10 minutes prior to the start of the conference call to
download and install any necessary audio software. An audio replay
of the conference call will be accessible for seven days by dialing
(877) 660-6853 and using account code 345 and replay ID number
328361. The replay and transcript will also be available on the
TEPPCO website.
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, and includes 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. TEPPCO also owns a marine transportation business that
operates primarily on the United States inland and Intracoastal
Waterway systems, and in the Gulf of Mexico. For more information,
visit TEPPCO�s website. Texas Eastern Products Pipeline Company,
LLC, the general partner of TEPPCO Partners, L.P., is owned by
Enterprise GP Holdings (NYSE:EPE).
This news release includes forward-looking statements. Except
for the historical information contained herein, the matters
discussed in this news release are forward-looking statements that
involve certain risks and uncertainties. These risks and
uncertainties include, among other things, insufficient cash from
operations, market conditions, governmental regulations and factors
discussed in TEPPCO Partners, L.P.'s filings with the Securities
and Exchange Commission. If any of these risks or uncertainties
materializes, or should underlying assumptions prove incorrect,
actual results or outcomes may vary materially from those expected.
The partnership disclaims any intention or obligation to update
publicly or reverse such statements, whether as a result of new
information, future events or otherwise.
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