Enterprise raises stake in fractionator. (News Briefs).(Enterprise Products acquires ChevronTexaco stake)(Brief Article)(Statistical Data Included)

Chemical Week, May, 2002

Enterprise Products has acquired ChevronTexaco's 12.5% stake in a natural gas liquids (NGL) fractionator at Mont Belvieu, TX. Terms were not disclosed. The transaction is expected to close later this quarter, subject to FTC approval. The sale is part of the FTC's conditions for approval of the merger of Chevron and Texaco.

Enterprise already owns 62.5% of the 210,000-bbls/day fractionator. Duke Energy (Charlotte, NC) and Burlington Resources (Houston) each own 12.5% of the fractionator and have an option to acquire a pro rata share of ChevronTexaco's interest when the deal closes.