With this transaction, Enterprise now owns 100% of Dixie, which includes a 1,300-mile pipeline system ranging in size from six inches to 12 inches in diameter that delivers propane to seven states throughout the Gulf Coast and southeastern US. Enterprise acquired its initial 12.5% interest in Dixie in September 1999.
The pipeline company currently has the capability to transport in excess of 160,000 barrels per day. The terminals and storage company assets are comprised of eight terminal locations with approximately 660,000 barrels of storage capacity.
Michael Creel, president and CEO of Enterprise Products Partners, said: Increasing our ownership of Dixie has been an ongoing strategic goal for Enterprise. As sole owner of Dixie, our focus will be on pursuing initiatives designed to increase utilization of the system and promote growth opportunities for the partnership and our investors.
