Energy Transfer Equity now called Energy Transfer LP and trading
under NYSE ticker “ET”
DALLAS--(BUSINESS WIRE)--Oct. 19, 2018--
Energy Transfer Equity, L.P. (“ETE”) and Energy Transfer Partners,
L.P. (“ETP”) today announced the completion of their previously
announced merger of ETE with ETP. At the effective time of the merger,
each ETP common unit converted into the right to receive 1.28 ETE common
units. Based on the ETP units outstanding, ETE issued approximately
1.46 billion ETE common units to ETP unitholders.
As part of the merger, ETE changed its name to “Energy Transfer LP” and
its common units will begin trading on the New York Stock
Exchange (“NYSE”) under the “ET” ticker symbol at the opening of the
In addition, ETP changed its name to “Energy Transfer Operating, L.P.”
and its common units ceased trading on the NYSE effective with the
opening of the market today. ETP’s Series C preferred units and Series D
preferred units will continue to be listed on the NYSE under the symbols
“ETPprC” and “ETPprD”, respectively.
About the Partnerships
Energy Transfer LP (NYSE: ET) owns and operates one of the largest and
most diversified portfolios of energy assets in the United States, with
a strategic footprint in all of the major domestic production basins. ET
is a publicly traded limited partnership with core operations that
include complementary natural gas midstream, intrastate and interstate
transportation and storage assets; crude oil, natural gas liquids (NGL)
and refined product transportation and terminalling assets; NGL
fractionation; and various acquisition and marketing assets. ET, through
its ownership of Energy Transfer Operating, L.P., also owns Lake Charles
LNG Company, as well as the general partner interests, the incentive
distribution rights and 28.5 million common units of Sunoco LP (NYSE:
SUN), and the general partner interests and 39.7 million common units of
USA Compression Partners, LP (NYSE: USAC). For more information, visit
the Energy Transfer website at www.energytransfer.com.
Energy Transfer Operating, L.P. owns and operates one of the largest and
most diversified portfolios of energy assets in the United States.
Strategically positioned in all of the major U.S. production basins, its
core operations include complementary natural gas midstream, intrastate
and interstate transportation and storage assets; crude oil, natural gas
liquids (NGL) and refined product transportation and terminalling
assets; NGL fractionation; and various acquisition and marketing assets.
Energy Transfer Operating, L.P.’s general partner is owned by Energy
Transfer LP (NYSE: ET). For more information, visit the Energy Transfer
website at www.energytransfer.com.
This press release includes “forward-looking” statements.
Forward-looking statements are identified as any statement that does not
relate strictly to historical or current facts. Statements using words
such as “anticipate,” “believe,” “intend,” “project,” “plan,” “expect,”
“continue,” “estimate,” “goal,” “forecast,” “may” or similar expressions
help identify forward-looking statements. ET and Energy Transfer
Operating, L.P. cannot give any assurance that expectations and
projections about future events will prove to be correct.
Forward-looking statements are subject to a variety of risks,
uncertainties and assumptions. These risks and uncertainties include the
risks that the benefits contemplated by the merger may not be realized.
Additional risks include: the potential impact of the consummation of
the proposed transaction on relationships, including with employees,
suppliers, customers, competitors and credit rating agencies, and the
ability to achieve revenue, DCF and EBITDA growth, and volatility in the
price of oil, natural gas, and natural gas liquids. Actual results and
outcomes may differ materially from those expressed in such
forward-looking statements. These and other risks and uncertainties are
discussed in more detail in filings made by ET and Energy Transfer
Operating, L.P. with the Securities and Exchange Commission (the “SEC”),
which are available to the public. ET and Energy Transfer Operating,
L.P. undertake no obligation to update publicly or to revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
The information contained in this press release is available on our
website at www.energytransfer.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181019005348/en/
Source: Energy Transfer Equity
Bill Baerg, Lyndsay
Hannah, Brent Ratliff, 214-981-0795