Enbridge Energy Partners Caters to Changing Market Needs

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Researched by Industrial Info Resources (Sugar Land, Texas)--Enbridge Energy Partners (NYSE:EEP) (Houston, Texas) announced third-quarter 2011 net income of $122.6 million, up from a loss of $406.4 million in the corresponding quarter of 2010. For the first nine months of the year, Enbridge Energy Partners reported net income of $396.6 million from a loss of $151 million in the same period of 2010. In yesterday's conference call regarding the earnings, company executives discussed under way and upcoming projects, stating that while the company's expenditures this year had been significant, they would almost certainly be higher in 2012.

The company has increased its forecast for crude oil production from the Bakken Shale. Enbridge Energy Partners President Mark Maki said that the company expects crude oil production from the Bakken Shale to reach 1 million barrels per day (BBL/d) in the next five years, suggesting the need for increased infrastructure. For related information, see October 26, 2011, article - Bakken Formation Has More Oil and Gas Than Prudhoe Bay, CEO Claims.

As refineries in the Midwest perform upgrade projects to process heavier crudes to take advantage of the wider refining margins, Enbridge Energy Partners is also planning projects to shift lighter crudes to refineries in the eastern U.S., while expanding transport of heavier crudes into the Midwest.

In late September, Enbridge Energy Partners and joint venture partner Enterprise Products Partners LP (NYSE:EPD) (Houston, Texas) announced plans to construct an 800,000-BBL/d pipeline from Cushing to the Houston/Port Arthur area, helping ease the oil glut and pipeline bottleneck out of Cushing.

Information on these and other projects is available in Industrial Info's North American Oil & Gas Transmission Database.

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Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, and eight offices outside of North America, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.