Enterprise Products Partners L.P 8-K, filed Nov 16, 2022
Enterprise Products Partners L.P. (EPD)
8-K
2022-11-16
For: 2022-11-11
View Original
Added on
April 08, 2026
About this 8-K
Enterprise Products Partners L.P filed this 8-K on November 16, 2022, reporting on events of November 11, 2022.
Items reported
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): November 11, 2022
(Exact name of registrant as specified in its charter)
|
|
|
|
|
(State or Other Jurisdiction of
|
(Commission File Number)
|
(I.R.S. Employer
|
|
Incorporation or Organization)
|
Identification No.)
|
|
(Address of Principal Executive Offices, including Zip Code)
|
|
(
(Registrant’s Telephone Number, including Area Code)
|
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:
|
Title of Each Class
|
Trading Symbol(s)
|
Name of Each Exchange On Which Registered
|
|
|
|
|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule
12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised
financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01. Other Events.
Settlement of PDH 1 Litigation
As previously disclosed, in July 2013, a subsidiary of Enterprise Products Partners L.P., a Delaware limited partnership (together with its
consolidated subsidiaries, “Enterprise”), executed a contract with Foster Wheeler USA Corporation (“Foster Wheeler”) pursuant to which Foster Wheeler was to serve as the general contractor responsible for the engineering, procurement, construction
and installation of Enterprise’s first propane dehydrogenation facility (“PDH 1”). In November 2014, Foster Wheeler was acquired by an affiliate of AMEC plc to form Amec Foster Wheeler plc, and Foster Wheeler is now known as Amec Foster Wheeler USA
Corporation (“AFW”). In December 2015, Enterprise and AFW entered into a transition services agreement under which AFW was partially terminated from the PDH 1 project. In December 2015, Enterprise engaged a second contractor, Optimized Process
Designs LLC, to complete the construction and installation of PDH 1.
On September 2, 2016, Enterprise terminated AFW for cause and filed a lawsuit in the 151st Judicial Civil District Court of Harris County, Texas
against AFW and its parent company, Amec Foster Wheeler plc, asserting claims for breach of contract, breach of warranty, fraudulent inducement, string-along fraud, gross negligence, professional negligence, negligent misrepresentation and attorneys’
fees. AFW and its parent company were acquired by John Wood Group PLC in 2017. Trial for the case began on April 19, 2022, and closing arguments were completed on July 22, 2022.
Effective as of November 11, 2022, the parties reached a settlement of the claims underlying the lawsuit. As part of the settlement, AFW paid $115
million in cash to Enterprise in a single installment.
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
ENTERPRISE PRODUCTS PARTNERS L.P.
|
|||
|
By:
|
Enterprise Products Holdings LLC,
its General Partner
|
||
|
Date: November 16, 2022
|
By:
|
/s/ R. Daniel Boss
|
|
|
Name:
|
R. Daniel Boss
|
||
|
Title:
|
Executive Vice President – Accounting, Risk Control and
Information Technology of the General Partner
|
||
3