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EEP
Enbridge Energy Partners, L.P.

5/24/2013, 11:41 PM ET
Quote & Headlines Market Currents StockTalk Description
Sector: Basic Materials
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Country: United States

We were formed in 1991 by Enbridge Energy Company, Inc., our general partner, to own and operate the Lakehead system, which is the U.S. portion of a crude oil and liquid petroleum pipeline system extending from western Canada through the upper and lower Great Lakes region of the United States to eastern Canada (the “System”). A subsidiary of Enbridge Inc., or Enbridge, owns the Canadian portion of the System. Enbridge, which is based in Calgary, Alberta, Canada provides energy transportation, distribution and related services in North America and internationally. Enbridge is the ultimate parent of our general partner.

We are a geographically and operationally diversified partnership consisting of interests and assets that provide midstream energy services. As of December 31, 2009, our portfolio of assets included the following:

•Approximately 5,900 miles of crude oil gathering and transportation lines and 28.9 million barrels, or Bbl, of crude oil storage and terminaling capacity;
•Natural gas gathering and transportation lines totaling approximately 10,000 miles;
•Nine natural gas treating and 22 natural gas processing facilities with an aggregate capacity of approximately 2,900 million cubic feet per day, or MMcf/d. The above amounts include plants we may idle from time to time based on current volumes;
•Trucks, trailers and railcars for transporting natural gas liquids, or NGLs, crude oil and carbon dioxide; and
•Marketing assets that provide natural gas supply, transmission, storage and sales services.

We conduct our business through three business segments:

•Liquids;
•Natural Gas; and
•Marketing.

Enbridge Management L.L.C., (“Enbridge Management”), is a Delaware limited liability company that was formed in May 2002 to manage our business and affairs. Under a delegation of control agreement, our general partner delegated substantially all of its power and authority to manage our business and affairs to Enbridge Management. Our general partner, through its direct ownership of the voting shares of Enbridge Management, elects all of the directors of Enbridge Management. Enbridge Management is the sole owner of a special class of our limited partner interests, which we refer to as “i-units.”