Enterprise Enters into Agreements with Chevron to Provide Midstream Energy Services

Business Wire, Nov 14, 2007

HOUSTON -- Enterprise Products Partners L.P. (NYSE:EPD) today announced that affiliates of the partnership have entered into long-term agreements with Chevron U.S.A. Inc. to provide a comprehensive package of midstream services for Chevron's natural gas production in the Piceance Basin of northwest Colorado. As part of a gathering and processing contract, Enterprise will gather natural gas originating from Chevron's 33,000-acre Western Slope development area in Garfield County, Colorado. The volumes will be transported through Enterprise's 48-mile, 36-inch diameter Piceance Creek Gathering System to the partnership's recently completed Meeker natural gas processing facility. The first phase of the Meeker complex, which was placed into service in October of 2007, is designed to process up to 750 million cubic feet per day (MMcf/d) of natural gas and has the capability to extract as much as 35,000 barrels per day (BPD) of natural gas liquids (NGLs). Phase II, which will double capacity of the facility to 1.5 billion cubic feet per day (Bcf/d) of natural gas and 70,000 BPD of NGLs, is projected to begin operations in the summer of 2008.

Under the terms of a separate transportation and fractionation exchange agreement, Enterprise will receive Chevron's mixed NGLs extracted at Meeker and utilize the flexibility of its integrated midstream network, which includes the Mid-America Pipeline (MAPL), to provide purity products to Chevron. During the third quarter of 2007, Enterprise completed an expansion of MAPL which added 50,000 BPD of incremental capacity to accommodate growing NGL production from the Rocky Mountain region.

"We are pleased that Chevron has selected Enterprise as the midstream energy services provider for all of its Piceance Basin production and look forward to a long and mutually beneficial relationship," said Michael A. Creel, president and chief executive officer of Enterprise. "This agreement strengthens our position as a premier player in the thriving Piceance Basin and illustrates how producers have come to recognize the importance of our Rockies infrastructure and our integrated assets farther downstream as they continue to develop one of the nation's most prolific energy producing regions."

Creel added that the agreements reflect Enterprise's successful strategy of utilizing the flexibility of its integrated energy value chain to develop long-term partnerships with some of the industry's largest producers, particularly in the Piceance Basin. In fact, Enterprise has executed agreements with half of the 12 largest producers in the region which total more than 2 Bcf/d of natural gas, and expects to enter into additional agreements with other Piceance Basin producers in the near future.

Specific to Chevron, Enterprise has entered into multiple agreements over the past year that have expanded the growing relationship between the two entities beyond the Piceance Basin. These agreements involve a wide range of services across Enterprise's large system of midstream assets and include natural gas processing and transportation in addition to NGL fractionation, transportation, storage and import terminaling. These services utilize Enterprise assets covering a wide geographical footprint that extends from the San Juan Basin in New Mexico to South Texas, Mont Belvieu, the Houston Ship Channel, and into the Gulf Coast regions of Mississippi and Louisiana.

Enterprise Products Partners L.P. is one of the largest publicly traded partnerships with an enterprise value of approximately $21 billion, and is a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil and petrochemicals. Enterprise transports natural gas, NGLs, crude oil and petrochemical products through more than 35,000 miles of onshore and offshore pipelines. Services include natural gas gathering, processing, transportation and storage; NGL fractionation (or separation), transportation, storage and import and export terminaling; crude oil transportation; offshore production platform services; and petrochemical pipeline and services. For more information, visit Enterprise on the web at www.epplp.com. Enterprise Products Partners L.P. is managed by its general partner, Enterprise Products GP, LLC, which is wholly-owned by Enterprise GP Holdings L.P. (NYSE:EPE), which has an enterprise value of approximately $5 billion. For more information on Enterprise GP Holdings L.P., visit its website at www.enterprisegp.com.

This news release includes forward-looking statements. Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve certain risks and uncertainties, such as the partnership's expectations regarding its long-term natural gas gathering and processing programs and future operating results. These risks and uncertainties include, among other things, insufficient cash from operations, market conditions, governmental regulations and factors discussed in Enterprise Products Partners L.P.'s filings with the Securities and Exchange Commission. If any of these risks or uncertainties materializes, or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those expected. The partnership disclaims any intention or obligation to update publicly or reverse such statements, whether as a result of new information, future events or otherwise.