8-K

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 20, 2025

ENTERPRISE PRODUCTS PARTNERS L.P.

(Exact name of registrant as specified in its charter)

Delaware

1-14323

76-0568219

(State or Other Jurisdiction of

Incorporation or Organization)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

1100 Louisiana, 10th Floor

Houston, Texas 77002

(Address of Principal Executive Offices, including Zip Code)

(713) 381-6500

(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 (see General Instruction A.2):

☐	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

Common Units

EPD

New York Stock Exchange

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. ☐

7.01 Regulation FD Disclosure.

On November 20, 2025, Enterprise Products Partners L.P., a Delaware limited partnership (together with its affiliates, “Enterprise”), issued a press release announcing that it has executed an agreement with ExxonMobil, which will acquire a 40-percent undivided joint interest (“UJI”) in Enterprise’s Bahia natural gas liquids pipeline. Pursuant to the agreement, ExxonMobil will contribute its proportionate share of Bahia project costs to date, or approximately $650 million, subject to customary adjustments. The closing of the transaction is subject to regulatory approvals and is expected by early 2026.

Upon closing of the transaction, Enterprise and ExxonMobil plan to increase Bahia’s capacity by adding incremental pumping capacity and constructing a 92-mile extension of Bahia to ExxonMobil’s Cowboy natural gas processing plant in Eddy County, New Mexico. ExxonMobil will own a 70-percent UJI in this extension, which is expected to be completed in the fourth quarter of 2027. Enterprise will serve as operator of the combined system.

A copy of the press release is furnished herewith as Exhibit 99.1 and incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.


Exhibit No.		Description

99.1		Press Release dated November 20, 2025.

104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

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 20, 2025	By:	/s/ R. Daniel Boss
	Name:	R. Daniel Boss
	Title:	Executive Vice President and Chief Financial Officer of the General Partner

EXHIBIT 99.1

LOGO

ENTERPRISEANNOUNCES EXPANSION AND EXTENSION OF BAHIA NGL PIPELINE; EXXONMOBIL TO ACQUIRE JOINT INTEREST

Houston, Texas (November 20, 2025) – Enterprise Products Partners L.P. (NYSE: EPD) (together with its affiliates, “Enterprise”) today announced it has executed an agreement with ExxonMobil, which will acquire a 40-percent undivided joint interest (“UJI”) in Enterprise’s Bahia natural gas liquids (“NGL”) pipeline. The closing of the transaction is subject to regulatory approvals and is expected by early 2026.

The 550-mile Bahia pipeline, which has begun commissioning activities and will begin commercial operations immediately thereafter, will have an initial capacity to transport 600,000 barrels per day (“BPD”) of NGLs from the Midland and Delaware basins of West Texas to Enterprise’s Mont Belvieu fractionation complex.

Upon closing of the transaction, Enterprise and ExxonMobil plan to increase Bahia’s capacity to 1 million BPD by adding incremental pumping capacity and constructing a 92-mile extension of Bahia to ExxonMobil’s Cowboy natural gas processing plant in Eddy County, New Mexico. The extension will also connect to multiple Enterprise-owned processing facilities in the Delaware Basin. The expansion and extension are expected to be completed in the fourth quarter of 2027, with ExxonMobil’s interest referred to as the “Cowboy Connector.” Enterprise will serve as operator of the combined system.

“We are pleased to partner with ExxonMobil on the Bahia NGL pipeline,” said A.J. “Jim” Teague, co-chief executive officer of Enterprise’s general partner. “As the ratio of natural gas and NGL production to crude oil production continues to increase in the Permian, the Bahia pipeline will be an essential artery to deliver mixed NGLs to the fractionation complex in Mont Belvieu. From 2024 to 2030, NGL production in the Permian Basin is expected to increase by over 30 percent. This expansion supports this growth by providing critical takeaway capacity for the basin.”

Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and marine terminals; crude oil gathering, transportation, storage and marine terminals; petrochemical and refined products

production, transportation, storage, and marine terminals and related services; and a marine transportation business that operates on key U.S. inland and intracoastal waterway systems. The partnership’s assets include more than 50,000 miles of pipelines; over 300 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet of natural gas storage capacity. Please visit www.enterpriseproducts.com for more information.

This press release includes “forward-looking statements” as defined by the Securities and Exchange Commission. All statements, other than statements of historical fact, included herein that address activities, events, developments or transactions that Enterprise and its general partner expect, believe or anticipate will or may occur in the future are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from expectations, including required approvals by regulatory agencies, the possibility that the anticipated benefits from such activities, events, developments or transactions cannot be fully realized, the possibility that costs or difficulties related thereto will be greater than expected, the impact of competition, and other risk factors included in Enterprise’s reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. Except as required by law, Enterprise does not intend to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts: Enterprise Products

Libby Strait, Investor Relations, (713) 381-4754 or (866) 230-0745

Rick Rainey, Media Relations (713) 381-3635