Enterprise's integrated network of midstream energy assets is well positioned to benefit from expected growth in both the production of and demand for natural gas, NGLs and crude oil. We believe we have the following competitive strengths:
 

Large-Scale, Integrated Network of Diversified Assets in Strategic Locations

We operate an integrated network of natural gas, NGL, crude oil and refined products midstream infrastructure within the United States. Our operations also include domestic crude oil, petrochemical and refined products pipelines, offshore platform services and marine transportation assets. Our integrated network of assets is strategically located to serve the major domestic supply basins and product storage hubs as well as international markets. We believe that our presence in these markets provides us access to natural gas, crude oil, NGL, petrochemical and refined products volumes, anticipated demand growth and business expansion opportunities.
 

Fee-Based Businesses and Diversified Asset Mix

The majority of our cash flow is derived from fee based businesses that are not directly affected by volatility in energy commodity prices. We have a diversified asset portfolio that provides operating income from a broad range of geographic areas and lines of business.
 

Relationships with Major Oil, Natural Gas and Petrochemical Companies

We have long-term relationships with many of our suppliers and customers, and we believe that we will continue to benefit from these relationships. We jointly own facilities with many of our customers who either provide raw materials to, or consume the end products from our facilities. These joint venture partners include major oil, natural gas and petrochemical companies, including BP, Chevron, ConocoPhillips, Dow Chemical, ExxonMobil, Marathon, Shell and Spectra Energy.
 

Large Platform for Continued Expansion

We have strong business positions across our midstream energy platform of assets. In 2009 and 2010, we completed approximately $2.5 billion in growth capital projects and acquisitions. These completed growth capital projects and acquisitions include: (1) the $1.2 billion acquisition of natural gas gathering systems of which the State Line system will connect with the Haynesville Extension of our Acadian Gas System; (2) the Sherman and Trinity River Extensions of our Texas Intrastate natural gas pipeline system serving the Barnett Shale area; (3) an expansion of our Meeker natural gas processing plant and the construction of the Exxon central treating facility and two natural gas gathering systems serving the Piceance Basin of Northwest Colorado; (4) the completion of our NGL fractionation IV plant at our Mont Belvieu, Texas complex; (5) and the construction of the Shenzi crude oil pipeline in the Gulf of Mexico. We currently have approximately $5 billion of growth capital projects under development including those to serve expected growth in natural gas production, NGL and crude oil production from drilling in the shale plays including the Haynesville Shale in Northwest Louisiana and the Eagle Shale in South Texas.