22.03.2005 23:30:00
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Enterprise General Partner Announces Changes to Board of Directors
Business Editors/Energy Editors
HOUSTON--(BUSINESS WIRE)--March 22, 2005--Enterprise Products GP, LLC, the general partner of Enterprise Products Partners L.P. ("Enterprise") (NYSE:EPD), announced changes to its board of directors, which are effective today.
E. William Barnett was elected as a director, and Ralph S. Cunningham and Lee W. Marshall, Sr. have resigned from the board. Following these changes, the directors of the board of Enterprise's general partner are Dan L. Duncan, Chairman; O.S. "Dub" Andras, Vice Chairman; Robert G. Phillips, President and Chief Executive Officer; W. Matt Ralls; Richard S. Snell, and Mr. Barnett. Mr. Duncan will be a non-voting director to preserve the voting majority of the independent directors.
Mr. Barnett will serve as a member and the Chairman of the Governance Committee and a member of the Audit and Conflicts Committee. Mr. Barnett practiced law with Baker Botts L.L.P. from 1958 until his retirement in 2004. In 1984, he became Managing Partner of Baker Botts L.L.P. and continued in that role for 14 years until 1998. He was Senior Counsel to the firm from 1998 until June 1, 2004, when he retired from the firm. Mr. Barnett is Chairman of the Board of Trustees of Rice University, a Life Trustee of The University of Texas Law School Foundation, a director of St. Luke's Episcopal Health System, a director of the Center for Houston's Future and a current director and former Chairman of the Board of Directors of the Houston Zoo, Inc. (the operating arm of the Houston Zoo). He also served as a trustee of Baylor College of Medicine from 1993 until 2004. He currently serves as a director of Reliant Energy, Inc. He is also a director and former Chairman of the Greater Houston Partnership.
Mr. Ralls, who has served as a member of the Audit and Conflicts Committee will become Chairman of that committee and will continue to serve as a member of the Governance Committee, of which he was previously the Chairman.
Mr. Snell will serve as a member of the Audit and Conflicts Committee and the Governance Committee.
"We are pleased to announce the addition of Bill Barnett to the board of our general partner," said Mr. Phillips. "We believe Bill's experience will complement that of Matt Ralls and Dick Snell and will enhance the strong leadership of our general partner. We would also like to express our gratitude to the exemplary service that Ralph Cunningham and Lee Marshall have provided to our board since its formation in 1998."
Enterprise Products Partners L.P. is one of the largest publicly traded energy partnerships with an enterprise value of more than $14 billion, and is a leading North American provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs) and crude oil. Enterprise transports natural gas, NGLs and crude oil through approximately 32,500 miles of onshore and offshore pipelines and is an industry leader in the development of midstream infrastructure in the Deepwater Trend of the Gulf of Mexico. Services include natural gas transportation, gathering, processing and storage; NGL and propylene fractionation (or separation), transportation, storage, and import and export terminaling; crude oil transportation and offshore production platform services. For more information, visit Enterprise on the web at www.epplp.com.
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CONTACT: Enterprise Products Partners L.P., Houston Randy Burkhalter, 713-880-6812 www.epplp.com
KEYWORD: TEXAS INDUSTRY KEYWORD: OIL/GAS ENERGY MANAGEMENT CHANGES SOURCE: Enterprise Products Partners L.P.
Copyright Business Wire 2005
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