Energy Transfer approves 2:1 split, $1B buyback, commits $400M to RGP deal

|About: Energy Transfer Equity, L.P. (ETE)|By:, SA News Editor

Energy Transfer Equity (ETE) announces a series of steps it says will position it for further growth in 2014, including a two-for-one split of outstanding common units and a $1B buyback program.

ETE also commits to purchase $400M of Regency Energy Partners (RGP) common units as part of the consideration for RGP's $1.3B acquisition of Eagle Rock Energy Partners' midstream business; ETE is the owner of the general partner of RGP.

Also, Trunkline LNG Export, a subsidiary of ETE and Energy Transfer Partners (ETP), has filed Draft Resource Report No. 13  with federal regulators for the Lake Charles LNG export project.