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Enterprise Products cancels pipeline project

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Houston- based Enterprise Products Partners L.P. (NYSE: EPD), has decided to cancel development of its pipeline project.

According to “The Largest Companies Headquartered in Texas” report from the governor’s office, Enterprise Products is the third largest publicly traded company in Houston with $47.7 billion in revenue for 2013.

The proposed Bakken-to-Cushing crude oil pipeline was canceled due to insufficient commitments from potential shippers during the recent open season.

Enterprise Products recently made headlines in November when they announced they had entered into a merger agreement with Oiltanking Partners (NYSE: OILT). Read more…

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