TEPPCO Partners LP, a storage terminal and pipeline operator, announced that it has been ranked 35th in an annual survey of Houston Texas’ 100 top-performing, publicly traded companies. Compiled by the Houston Chronicle newspaper, the rankings are based on four measures of financial performance in 2008: total revenue, revenue growth, earnings per share growth, and one-year total return to shareholders on a dividend-reinvested basis.
“To be ranked among the top-performing companies in a survey that includes some of the premier players in the energy industry is very rewarding and complements other national recognition TEPPCO has received for its 2008 financial results,” said Jerry E. Thompson, president and chief executive officer of TEPPCO’s general partner. “Helping to drive our performance has been the partnership’s diverse portfolio of strategically positioned assets, which facilitated distribution rate increases to TEPPCO unitholders in 2008.”
With operations that span much of the continental United States, TEPPCO owns and operates a network of assets that facilitate the movement, marketing, gathering, and storage of various commodities and energy-related products. The partnership’s midstream network is comprised of approximately 12,500 miles of pipelines that gather and transport refined petroleum products, crude oil, natural gas, liquefied petroleum gases (LPGs), and natural gas liquids, including one of the largest common carrier pipelines for refined petroleum products and LPGs in the United States. TEPPCO’s storage assets include about 27 million barrels of capacity for refined petroleum products and LPGs and about 14 million barrels of capacity for crude oil.