Enterprise Products Partners offers to buy Duncan Energy for $2.41 billion

Enterprise Products Partners (EPD), a US-based natural gas and crude oil pipeline company yesterday offered to buy midstream energy firm Duncan Energy Partners for about $2.41 billion in an all-units deal.

Duncan Energy is managed by its general partner, DEP Holdings, which is wholly-owned by Enterprise Products Partners.

Duncan Energy is a publicly traded partnership that provides midstream energy services, including gathering, transportation, marketing and storage of natural gas, transportation and storage and petrochemical transportation and storage.

Duncan Energy owns interests in assets located primarily in Texas and Louisiana, including interests in approximately 9,400 miles of natural gas pipelines with a transportation capacity aggregating approximately 7.9 billion cubic feet per day, more than 1,600 miles of NGL and petrochemical pipelines, and 34 underground salt dome caverns with more than 100 MMBbls of NGL storage capacity at Mont Belvieu.

EPD is the largest publicly traded partnership and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals.

EPD's assets include approximately 50,200 miles of onshore and offshore pipelines; 192 million barrels of storage capacity for NGLs, refined products and crude oil, and 27 billion cubic feet of natural gas storage capacity.