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ENBRIDGE ENERGY PARTNERS LP

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2018 10-Q, filed Nov 2, 2018. Its latest SEC filing is a S-3ASR from Aug 1, 2025.

The sections below describe the company as of the FY2017 annual report.

What Did They Do?

Transports and stores crude oil and liquid petroleum for oil producers, refiners, marketers and other shippers.

How Did They Make Money?

Shippers pay a rate per barrel for gathering and transporting crude oil and liquid petroleum, with payment due when the product is delivered. Storage customers pay for available capacity or storage volumes as the service is provided.

FY2017 revenue

Who Were Their Customers?

Oil producers, refiners, marketers and traders use its pipelines and storage terminals. Shippers use the pipeline systems, while crude oil market participants contract for storage; the filing describes both month-to-month and long-term arrangements.

Customers above 10% of revenue, FY2017
of revenue from two customers (17%, 10%)
FY2016: 11% from one customer

Did Revenues Turn Into Profits?

Yes. It kept 10 cents of every revenue dollar as net income in FY2017.

Operating income, FY2017
46% of revenue
▲ +133% vs FY2016 ($481M, 19%)
Net income, FY2017
10% of revenue
▲ Now profitable vs FY2016 (−$162M, −6%)

How Were They Changing?

Since the FY2017 annual report
Latest quarter: Q3 FY2018, the three months to Sep 30, 2018
Revenue
▼ −9%
vs $616M in Q3 FY2017
Net income
▲ +12%
vs $93M in Q3 FY2017
  • Dec 20, 2018 Enbridge acquired the partnership and its public units were delisted EEP became an indirect wholly owned subsidiary of Enbridge; each public Class A unit converted into the right to receive Enbridge shares.

Shrank. Revenue fell 66% in 4 years, from $7.1B in FY2013 to $2.4B in FY2017, about 24% a year.

Exited natural gas businesses The older report describes both crude oil and liquid petroleum assets and natural gas gathering, treating, processing, transportation and marketing assets. The latest report describes a liquids business and says the Midcoast gas gathering and processing interests were sold.

Who Did They Compete With?

Competes with MPLX LP

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