Enterprise Products ordered to pay $535M in pipeline dispute

|About: Enterprise Products Partner... (EPD)|By:, SA News Editor

A Texas judge ruled late Tuesday that Enterprise Products Partners (EPD -0.8%) must pay $535M to Energy Transfer Partners (ETP -0.3%) that a jury said EPD owed after backing out of a joint venture to build a crude oil pipeline.

In addition to the $319M jury award for damages, the judge ordered EPD to pay $150M in disgorged profits and $66M in pre-judgment interest accrued since late 2011; additional interest would boost the total to $620M by July 2017.

EPD is expected to appeal the case with so much at stake.