Killajoules

Enterprise to Sell Offshore Gulf of Mexico Business to Genesis
Enterprise Products Partners L.P. (NYSE:EPD) today announced that it has executed definitive agreements to sell its offshore Gulf of Mexico pipelines and services business, which primarily consists of its Offshore Pipelines & Services business segment to Genesis Energy, L.P. (“Genesis”) for approximately $1.5 billion in cash. The transaction is expected to close during the third quarter of 2015. Enterprise’s offshore assets include its ownership interest in nine crude oil pipeline systems with more than 1,100 miles of pipeline; nine natural gas pipeline systems totaling approximately 1,200 miles of pipeline; and its ownership interest in six offshore hub platforms.

Enterprise and Genesis Complete Crude Oil Pipeline in the Deepwater Gulf of Mexico
Enterprise Products Partners L.P. (NYSE:EPD) and Genesis Energy, L.P. (NYSE: GEL) today announced that their jointly owned crude oil gathering pipeline serving the Lucius production area in southern Keathley Canyon is now mechanically complete and began earning revenues July 1, 2014. Constructed and owned by Southeast Keathley Canyon Pipeline Company, L.L.C. (“SEKCO”), a 50/50 joint venture between Enterprise and Genesis, the 149-mile, 18-inch diameter pipeline connects the third party-owned Lucius-truss spar floating production platform to an existing junction platform at South Marsh Island 205, which is part of the Enterprise-operated Poseidon pipeline system. Enterprise serves as operator of the SEKCO pipeline, which has a capacity of 115,000 barrels per day.

Genesis Energy, Announces Expansion Of Existing Gulf Coast Terminal Infrastructure, New Crude Oil Pipeline And New Unit Train
Genesis Energy, L.P. (NYSE: GEL) today announced the company plans to invest approximately $125 million to improve existing assets and develop new infrastructure in Louisiana to connect into Exxon Mobil Corporation’s (NYSE: XOM) Baton Rouge Refinery, one of the largest refinery complexes in North America with more than 500,000 barrels per day of refining capacity. The project is expected to generate positive economic benefits both for the community of Baton Rouge and the state of Louisiana.

Genesis awarded Enterprise Framework Agreement by Shell Global Solutions International B.V.
Genesis was awarded an Enterprise Framework Agreement by Shell Global Solutions International B.V., covering Subsea Umbilical Risers and Flowlines (SURF), Engineering and Project Management Services. The contract duration is 5 years, with the option to extend for an additional 5 years and will cover the supply of services to support all of Shell’s SURF projects on a worldwide basis. The contract will focus on Shell’s activities in the Gulf of Mexico and Brazil and will initially be managed from the Genesis office in Houston, Texas.

Genesis Energy, L.P. Completes Acquisition Of Interests In Gulf Of Mexico Oil Pipelines, Including Poseidon
Genesis Energy, L.P. (NYSE: GEL) announced today that it has acquired from Marathon Oil Company, a wholly-owned subsidiary of Marathon Oil Corporation (NYSE: MRO), interests in several Gulf of Mexico crude oil pipeline systems, including its 28% interest in Poseidon Oil Pipeline Company, L.L.C., its 29% interest in Odyssey Pipeline L.L.C., and its 23% interest in the Eugene Island Pipeline System.

Enterprise and Genesis Energy to Build Crude Oil Gathering Pipeline in the Deepwater Gulf of Mexico
Enterprise Products Partners L.P. (NYSE:EPD) and Genesis Energy, L.P. (NYSE:GEL) today announced that they have executed crude oil transportation agreements with a consortium of six Gulf of Mexico producers which will provide the necessary support for construction of a new crude oil gathering pipeline serving the Lucius development area in southern Keathley Canyon. The producer group is comprised of Anadarko U.S. Offshore Corporation, Apache Deepwater Development LLC, Exxon Mobil Corporation, Eni Petroleum US LLC, Petrobras America Inc., and Plains Offshore Operations Inc. The pipeline will be constructed and owned by Southeast Keathley Canyon Pipeline Company LLC (“SEKCO”), a 50/50 joint venture between Enterprise and Genesis. Enterprise will serve as construction manager and operator of the new pipeline, earning fees for both services.

Genesis Energy Enters into Agreements to Acquire Interests in Gulf of Mexico Oil Pipelines, including Posiedon
Genesis Energy, L.P. (NYSE: GEL) announced today that it has entered into definitive agreements to acquire from Marathon Oil Company interests in several Gulf of Mexico crude oil pipeline systems, including its 28% interest in Poseidon Oil Pipeline Company, L.L.C., its 29% interest in Odyssey Pipeline L.L.C., and its 23% interest in the Eugene Island Pipeline System. Marathon Oil Company is a wholly-owned subsidiary of Marathon Oil Corporation (NYSE: MRO). The Poseidon and Odyssey interests are subject to the expiration or waiver of rights of first refusal, and Genesis is not obligated to consummate any transaction unless it is ultimately successful in acquiring the interest in Poseidon.