Enterprise Products Partners
Enterprise Products Partners L.P. is a publicly traded master limited partnership (NYSE: EPD) that operates an integrated North American midstream network of over 50,000 miles of pipelines, 300+ MMBbls of storage, and major Gulf Coast fractionation, processing, and export terminals, serving natural gas producers, refiners, petrochemical companies, and international energy buyers under long-term fee-based contracts.
- Company typePublic
- Founded1968
- HeadquartersHouston, United States
- Headcount5,001–10,000
- GTM typeB2B
- OfferingServices
What Enterprise Products Partners does
Enterprise Products Partners L.P. is a publicly traded master limited partnership (NYSE: EPD) founded in 1968 and headquartered in Houston, Texas, that operates one of the largest integrated midstream energy networks in North America, with over 50,000 miles of pipelines, more than 300 million barrels of liquids storage capacity, 29 natural gas processing plants, 27 NGL fractionation facilities, and 21 deepwater marine docks. The company's assets are organized across four business segments — Natural Gas, Natural Gas Liquids, Crude Oil, and Petrochemical & Refined Products — and serve upstream producers, refiners, petrochemical manufacturers, electric utilities, and international energy buyers. Flagship facilities include the Mont Belvieu and Chambers County NGL fractionation and storage complexes (approximately 1.2 MMBPD fractionation and 177 million barrels of salt-dome storage), the Morgan's Point ethane export terminal (the world's largest), and the Enterprise Hydrocarbons Terminal on the Houston Ship Channel.
The company generates revenue primarily through fee-based contracts, including long-term take-or-pay and per-unit transportation tariffs with inflation escalators across its pipeline, processing, fractionation, storage, and marine terminal assets. Approximately 80% of operating cash flow is derived from fixed-fee or take-or-pay contracts that insulate the business from commodity price volatility. Commercial activity is relationship-driven and segmented by business line, with direct sales teams and dedicated customer portals (eStream, gFlow) supporting shippers. Recent capital deployment has emphasized Permian Basin gas processing and NGL capacity additions, including the 2022 Navitas Midstream acquisition ($3.2 billion), the 2024 Piñon Midstream acquisition ($950 million), and the Texas Western Products refined-products corridor completed in late 2024.
For full-year 2025, the company reported approximately $51.6 billion in revenue, $5.84 billion in net income, and $7.9 billion in operational distributable cash flow, with a 3.2x leverage ratio and 1.8x distribution coverage as of Q1 2026. Q1 2026 adjusted EBITDA of $2.7 billion rose approximately 10% year-over-year on record pipeline transportation volumes (14.2 MMBPD), marine terminal volumes (2.3 MMBPD), and NGL fractionation volumes (1.9 MMBPD), and the company has increased distributions for 27 consecutive years at a 6.0% forward yield.
Enterprise Products Partners firmographics
Firmographics- Name
- Enterprise Products Partners
- Legal name
- Enterprise Products Partners L.P.
- Website
- https://enterpriseproducts.com
- Company type
- Public
- Founded year
- 1968
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Enterprise Products Partners L.P. is a publicly traded master limited partnership (NYSE: EPD) that operates an integrated North American midstream network of over 50,000 miles of pipelines, 300+ MMBbls of storage, and major Gulf Coast fractionation, processing, and export terminals, serving natural gas producers, refiners, petrochemical companies, and international energy buyers under long-term fee-based contracts.
- Ownership category
- akta.pro rank
Enterprise Products Partners industry classification
Industry- Product category
- Midstream Energy Services
- NAICS
- Pipeline Transportation of Crude Oil (4861), Pipeline Transportation of Crude Oil (486110), Pipeline Transportation of Refined Petroleum Products (486910), Pipeline Transportation of Refined Petroleum Products (48691), Pipeline Transportation of Natural Gas (486210), Pipeline Transportation of Natural Gas (4862), Pipeline Transportation of Natural Gas (48621), Petroleum Bulk Stations and Terminals (424710)
- SIC
- Pipe Lines (No Natural Gas) (4610), Natural Gas Transmisison & Distribution (4923), Natural Gas Transmission (4922), Wholesale-Petroleum Bulk Stations & Terminals (5171), Oil & Gas Field Services, Nec (1389)
- akta.pro primary industry
- NGL/LPG Trunkline / Transmission Pipelines (Interstate/Long-Haul) (TLAGAEAI)
- akta.pro secondary industries
- NGL / LPG Storage & Terminals (Propane, Butane, Ethane, Y-Grade) (EUALAEAC), Pipeline Operations, Integrity & Control (SCADA, Pigging, Leak Detection) (EUALADAK), Oil & Gas Midstream & Pipeline O&M (Pipelines, Compressor Stations) (EUAEAGAF), Truck Transportation of Crude, Refined Products & LPG (Bulk Road Haulage) (EUALADAJ), Midstream Commercial Services (Capacity Marketing, Balancing & Scheduling) (EUAAACAL), NGL/LPG Export / Marine Terminal Connection Pipelines (TLAGAEAK)
Keywords
Where Enterprise Products Partners is headquartered
LocationHeadquarters
- HQ city
- Houston
- HQ country
- United States
- HQ region
- North America
Offices5 records
Markets served
Enterprise Products Partners business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Infrastructure, Others, Personnel, Supply Chain
Revenue model
- Pipeline Transportation Fees: Fee-based revenue from transporting natural gas, NGLs, crude oil, and refined products through over 50,000 miles of pipelines. Contracts typically structured as take-or-pay or fee-per-unit with inflation protection.
- Natural Gas Processing: Fees charged for processing natural gas to remove NGLs and meet pipeline quality specifications. 29 processing plants with approximately 1.3 Bcf/d of processing capacity in Permian Basin and Gulf Coast regions.
- NGL Fractionation: Fees for fractionating mixed NGL streams into purity products (ethane, propane, normal butane, isobutane, natural gasoline) at Mont Belvieu and Chambers County complexes with approximately 1.2 MMBPD capacity.
- Storage and Terminaling: Fees for underground salt dome storage and marine terminal services for NGLs, crude oil, petrochemicals, and refined products. Approximately 177 million barrels of net usable NGL storage capacity.
- Petrochemical Services: Revenue from propylene production (PDH facilities), ethylene services, butane isomerization, octane enhancement, and related petrochemical processing at Chambers County and Mont Belvieu complexes.
- Marine Transportation: Revenue from tow boats and tank barges transporting refined products, crude oil, asphalt, condensate, heavy fuel oil, LPG and other petroleum products on inland and intracoastal waterway systems.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Monthly | Fee-based tariff rates for pipeline transportation and processing services |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels4 records
Enterprise Products Partners product offering
Product offeringCore offering
Enterprise Products Partners operates a fully integrated midstream energy infrastructure network providing pipeline transportation, natural gas processing, NGL fractionation, storage and marine terminaling services for natural gas, natural gas liquids (NGLs), crude oil, refined products and petrochemicals. The network encompasses over 50,000 miles of pipelines, more than 300 million barrels of liquids storage, 27 fractionation facilities and 21 deepwater docks positioned at Mont Belvieu, the Houston Ship Channel, the Permian Basin and other key U.S. supply and market hubs. Services are delivered under long-term take-or-pay and fee-based contracts with producers, refiners, petrochemical companies, electric utilities and international energy buyers.
Product overview
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services. The company operates as a fully integrated midstream company with four core business segments: Natural Gas Liquids (NGLs) Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services. The NGL segment includes 29 processing plants, NGL pipelines, fractionation facilities with approximately 1.2 million BPD capacity, 177 million barrels of underground storage, and marine terminals including the world's largest ethane export terminal. The Crude Oil segment encompasses pipeline systems and terminals in Texas, Oklahoma and New Mexico. Natural Gas operations include gathering and transmission pipelines. The Petrochemical & Refined Products segment covers propylene production (including PDH plants), butane isomerization, octane enhancement, refined products pipelines, ethylene export, and marine transportation services. The company also provides customer-facing web portals including eStream and gFlow for account management.
Differentiator
Problem solved
Functional benefit
Products and services
- Natural Gas Liquids (NGLs) Pipelines & Services Comprehensive NGL business including natural gas processing at 29 plants across Colorado, Louisiana, Mississippi, New Mexico, Texas and Wyoming; NGL pipelines transporting mixed and purity products; NGL fractionation facilities with approximately 1.2 million BPD capacity at Chambers County, Texas; approximately 177 million barrels of net usable underground salt dome storage; and NGL marine terminals including the world's largest ethane export terminal at Morgan's Point (approximately 10,000 barrels per hour) and the Enterprise Hydrocarbons Terminal on the Houston Ship Channel. Sold under long-term take-or-pay and fee-based contracts to NGL producers, marketers and international petrochemical buyers.
- Crude Oil Pipelines & Services Crude oil pipeline systems and terminals that gather and transport crude oil to refineries, with centralized storage terminals and connecting pipelines in Oklahoma, New Mexico and Texas. Includes crude oil terminals in Houston, Midland and Beaumont, Texas and Cushing, Oklahoma, and associated marine services for exporting and importing crude oil. Sold under fee-based transportation and storage contracts to upstream producers, refiners and international crude buyers.
- Natural Gas Pipelines & Services Natural gas gathering pipelines that gather, treat and transport natural gas from production developments to regional natural gas plants, plus transmission pipelines that transport natural gas from processing facilities to downstream electric generation plants, local gas distribution companies, industrial and municipal customers, storage facilities or other connecting pipelines. Includes cryogenic processing capacity of approximately 1.3 Bcf/d in the Permian Basin. Sold under long-term fee-based and regulated FERC interstate tariffs to natural gas producers and large natural gas consumers.
- Petrochemical & Refined Products Services Includes propylene production facilities (fractionation units and two propane dehydrogenation (PDH) plants consuming 70,000 BPD of propane to produce 3.3 billion pounds per year of polymer grade propylene), the world's largest commercial butane isomerization complex with three isomerization units and ten DIB units, octane enhancement facilities, refined products pipelines and terminals, the ethylene export terminal at Morgan's Point (1 million tons per year capacity; 50% interest via Enterprise Navigator Ethylene Terminal JV with Navigator Gas), and a marine transportation business with tow boats and tank barges operating on the Mississippi River, intracoastal waterway between Texas and Florida, and Tennessee-Tombigbee waterway. Sold under long-term take-or-pay and fee-based contracts to petrochemical companies, refiners, oil marketers and downstream consumers.
Quantifiable outcome
- Q1 2026 adjusted EBITDA of $2.7 billion, up 10% year-over-year
- +4 more outcomes
Companies that use Enterprise Products Partners
Customer profileNamed customers7 records
Segments6 records
Ideal customer profiles5 records
Enterprise Products Partners technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature7 records
Enterprise Products Partners partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core, major and minor.
- Black Bay Energy CapitalcoreEnterprise completed acquisition of Piñon Midstream LLC for $950 million in cash (debt-free transaction). Assets include natural gas gathering and sour gas treating facilities expanding the company's footprint in the eastern flank of the Delaware Basin of Texas and New Mexico.
- Navitas Midstream PartnersmajorEnterprise acquired all member interests in Navitas Midstream Partners for $3.2 billion in cash in February 2022. The acquired assets include approximately 1,750 miles of pipelines and over 1.0 Bcf/d of cryogenic natural gas processing capacity in the Midland Basin of West Texas. This acquisition expanded Enterprise's natural gas processing and NGL businesses to the Permian Basin.
- Enterprise Navigator Ethylene Terminal LLC (Joint Venture with Navigator Gas)coreEnterprise owns 50% member interest in joint venture owning ethylene export terminal at Morgan's Point. Terminal has two docks and nameplate capacity to load 1 million tons of ethylene per year.
- Enbridge Inc.majorEnterprise and Enbridge agreed to focus commercial development efforts on Enterprise's Sea Port Oil Terminal (SPOT) deepwater crude oil export terminal project. Enbridge may acquire ownership interest in SPOT Terminal Services LLC subject to receiving deepwater port license.
- Altus Midstream CompanyminorAltus acquired 33% equity interest in Enterprise subsidiary owning Shin Oak NGL pipeline. The 658-mile Shin Oak Pipeline transports NGL production from Permian Basin to Mont Belvieu with up to 550 MBPD capacity.
- Waha Joint Venture (Delaware Basin Processing)coreDelaware Basin cryogenic natural gas processing plant placed in service in August 2016 with 150 MMcf/d processing capacity. Enterprise owns 50% and operates the joint venture.
- Texas Express Pipeline LLC (Joint Venture with Enbridge, Anadarko, DCP Midstream)coreTexas Express Pipeline commenced operations in November 2013, originating in Skellytown, Texas and extending approximately 580 miles to Mont Belvieu. Enterprise operates the pipeline and owns 35% member interest. Initial throughput capacity of 280 MBPD expandable to 400 MBPD for NGL transportation from Permian, Rocky Mountains, and Mid-Continent to Gulf Coast.
- NGL Fractionator Joint Venture with Western Gas Partners (Anadarko affiliate)coreJoint venture for NGL fractionators 7 and 8 at Mont Belvieu. Enterprise owns 75% with Western Gas owning 25% noncontrolling interest.
- Eagle Ford Pipeline LLC (Joint Venture with Plains All American Pipeline)core50/50 joint venture formed to provide crude oil pipeline services in South Texas Eagle Ford Shale. Pipeline system includes 140-mile crude oil and condensate line from Gardendale to Corpus Christi with 350 MBPD capacity and 1.8 MMBbls storage. Plains operates the joint venture pipeline system.
- Front Range Pipeline LLC (Joint Venture with Anadarko, DCP Midstream Front Range)coreFront Range Pipeline formed to construct 435-mile NGL pipeline from DJ Basin in Colorado to Skellytown, Texas. Each party holds one-third ownership interest. Initial capacity of 150 MBPD expandable to 230 MBPD. Enterprise constructs and operates the pipeline.
Scale indicators25 records
Recent moves12 records
Expansion highlights6 records
Enterprise Products Partners competitors and assessment
Company assessmentDirect peers
- Targa Resources: Targa Resources (NYSE: TRGP) is a leading NGL-focused midstream operator with gathering, processing, fractionation, transportation, and export capabilities in the Permian and other key basins, directly comparable to Enterprise's NGL segment and Gulf Coast NGL export franchise.
- Williams Companies: Williams Companies (NYSE: WMB) operates large-scale natural gas gathering, processing, and interstate transmission infrastructure, comparable to Enterprise's natural gas pipelines segment with similar take-or-pay contract structures and basin gathering exposure.
- Energy Transfer: Energy Transfer (NYSE: ET) is a leading MLP operating natural gas, NGL, crude oil, and refined products pipelines and terminals across the U.S., directly comparable to Enterprise in NGL fractionation, NGL and crude pipelines, Gulf Coast export infrastructure, and Permian/Delaware Basin gathering and processing.
- ONEOK: ONEOK (NYSE: OKE) is a leading midstream operator focused on natural gas and NGL gathering, processing, transportation, and storage, with major positions in the Williston, Powder River, and Permian basins that overlap with Enterprise's NGL and processing franchise.
- DCP Midstream: DCP Midstream is one of the largest U.S. natural gas and NGL midstream operators with gathering, processing, and transportation assets across major basins, a frequent JV partner of Enterprise (Texas Express, Front Range, NGL fractionators 7 & 8) and directly comparable in NGL fractionation services.
- MPLX: MPLX (NYSE: MPLX) is a diversified midstream MLP sponsored by Marathon Petroleum, operating crude oil, refined products, and natural gas pipelines and terminals that overlap with Enterprise's refined products pipeline network and crude oil gathering business.
- Kinder Morgan: Kinder Morgan (NYSE: KMI) is one of the largest North American energy infrastructure companies, operating pipelines and terminals for natural gas, NGLs, crude oil, refined products, and CO2 with comparable scale in gas transmission and refined products terminals.
- Plains All American Pipeline: Plains All American (NASDAQ: PAA) is a major crude oil midstream operator with pipelines, terminals, gathering systems, and a JV with Enterprise (Eagle Ford Pipeline), directly comparable in crude oil gathering, transportation, and storage segments.
Broad incumbents
- Cheniere Energy: Cheniere Energy (NYSE: LNG) is the largest U.S. LNG export operator, an adjacent infrastructure peer that consumes natural gas pipeline capacity from Enterprise's network and shares the same Gulf Coast export corridor thesis around ethane, NGL, and natural gas takeaway.
- Phillips 66 Partners (now Phillips 66): Phillips 66 (NYSE: PSX) operates refined products pipelines, terminals, and NGL infrastructure overlapping with Enterprise's Petrochemical & Refined Products segment, now consolidated under its parent following the 2023 simplification transaction.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Enterprise Products Partners social profiles
Digital presenceEnterprise Products Partners financial estimates
Financial estimateRevenue estimate
Valuation estimate
Enterprise Products Partners leadership team
Management profileNumber of profiles
Profiles10 records
Enterprise Products Partners subsidiaries and ownership
Company hierarchySubsidiaries7 records
Enterprise Products Partners funding detail
Funding detailFunding overview
Funding rounds4 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Enterprise Products Partners M&A and investment
M&A and investmentM&A10 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Enterprise Products Partners
What does Enterprise Products Partners do?
Enterprise Products Partners operates a fully integrated midstream energy infrastructure network providing pipeline transportation, natural gas processing, NGL fractionation, storage and marine terminaling services for natural gas, natural gas liquids (NGLs), crude oil, refined products and petrochemicals. The network encompasses over 50,000 miles of pipelines, more than 300 million barrels of liquids storage, 27 fractionation facilities and 21 deepwater docks positioned at Mont Belvieu, the Houston Ship Channel, the Permian Basin and other key U.S. supply and market hubs. Services are delivered under long-term take-or-pay and fee-based contracts with producers, refiners, petrochemical companies, electric utilities and international energy buyers.
Is Enterprise Products Partners a public or private company?
Enterprise Products Partners is a public company. It is classified as public and is currently operating.
When was Enterprise Products Partners founded?
Enterprise Products Partners was founded in 1968. It employs 5,001 to 10,000 people.
Where is Enterprise Products Partners based?
Enterprise Products Partners is headquartered in Houston, United States, in the North America region.
How does Enterprise Products Partners make money?
Six revenue lines are on record. Pipeline Transportation Fees are the primary driver. The others are natural Gas Processing, NGL Fractionation, storage and Terminaling, petrochemical Services and marine Transportation.
Who are Enterprise Products Partners's main competitors?
Direct peers on record are Targa Resources, Williams Companies, Energy Transfer, ONEOK, DCP Midstream, MPLX, Kinder Morgan and Plains All American Pipeline. Broad incumbents are Cheniere Energy and Phillips 66 Partners (now Phillips 66).
Does Enterprise Products Partners have an API?
No public API is recorded for Enterprise Products Partners.
What industry is Enterprise Products Partners in?
Enterprise Products Partners's product category is Midstream Energy Services. Its primary akta.pro industry code is TLAGAEAI, NGL/LPG Trunkline / Transmission Pipelines (Interstate/Long-Haul), with a secondary code of EUALAEAC, NGL / LPG Storage & Terminals (Propane, Butane, Ethane, Y-Grade). Its NAICS code is 4861 and its SIC code is 4610.