Legal Proceedings
−Removed: On October 29, 2020, WGR Operating, LP (“WGR”), on behalf of itself and derivatively on behalf of Mont Belvieu JV, filed suit against Enterprise Products Operating, LLC (along with its affiliates, collectively “Enterprise”) and Mont Belvieu JV (as a nominal defendant) in the District Court of Harris County, Texas (the “Mont Belvieu JV Lawsuit”).
−Removed: In the Mont Belvieu JV Lawsuit, we sought a declaratory judgment regarding proper revenue allocation as set forth in the Operating Agreement between the Mont Belvieu JV (in which WGR was a 25% owner) and Enterprise related to fractionation trains at the Mont Belvieu complex in Chambers County, Texas.
−Removed: Separately, on November 22, 2022, WGR filed suit against Enterprise in the District Court of Harris County, Texas (the “Whitethorn Lawsuit”).
−Removed: In the Whitethorn Lawsuit, we alleged, among other things, that Enterprise breached a contract related to its hydrocarbon trading activity that utilized the Whitethorn pipeline, and that Enterprise, as operator of the Whitethorn pipeline, breached its duties to act as a reasonable and prudent operator and for the sole benefit of the Whitethorn joint venture (in which WGR was a 20% owner).
−Removed: In response, Enterprise filed counterclaims related to alleged overpayments to WGR of approximately $12.0 million.
−Removed: In connection with the sales of our interests in both the Mont Belvieu JV and Whitethorn LLC on February 16, 2024, the Mont Belvieu Lawsuit and the Whitethorn Lawsuit were settled.
−Removed: Except as discussed above, we are not a party to any legal, regulatory, or administrative proceedings other than proceedings arising in the ordinary course of business.
+Added: We have elected to use a $1.0 million threshold for disclosing certain proceedings arising under federal, state, or local environmental laws when a government authority is a party and potential monetary sanctions are involved.
+Added: We believe proceedings under this threshold are not material to our business and financial proceedings.
+Added: We are not a party to any legal, regulatory, or administrative proceedings other than proceedings arising in the ordinary course of business.
Management believes that there are no such proceedings for which a final disposition could have a material adverse effect on results of operations, cash flows, or financial condition, or for which disclosure is otherwise required by Item 103 of Regulation S - K.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.