General The terms we, our, us and Spectra Energy Partners as used in this report refer collectively to Spectra Energy Partners, LP and its subsidiaries unless the context suggests otherwise. These terms are used for convenience only and are not intended as a precise description of any separate legal entity within Spectra Energy Partners. Nature of Operations. Spectra Energy Partners, through its subsidiaries and equity affiliates, is engaged in the transmission, storage and gathering of natural gas and the transportation and storage of crude oil through interstate pipeline systems. We are a Delaware master limited partnership. As of September30, 2016 , Spectra Energy Corp (Spectra Energy) and its subsidiaries collectively owned 76% of us and the remaining 24% was publicly owned. On September 6, 2016, Spectra Energy announced that they entered into a definitive merger agreement with Enbridge Inc. (Enbridge). Under this agreement, Enbridge and Spectra Energy will combine in a stock-for-stock merger transaction, which values Spectra Energy's stock at approximately $28 billion , based on the closing price of Enbridge common shares as of September2, 2016 . This transaction was unanimously approved by both boards of directors, and is expected to close in the first quarter of 2017, subject to shareholder and certain regulatory approvals and other customary conditions. Upon completion of the proposed merger, Spectra Energy shareholders will receive 0.984 Enbridge common shares for each share of Spectra Energy stock they own. The consideration to be received is valued at $40.33 per Spectra Energy share, based on the closing price of Enbridge common shares as of September2, 2016 , representing an approximate 11.5% premium to the closing price of Spectra Energy stock as of September2, 2016 . Upon completion of the merger, Enbridge shareholders are expected to own approximately 57% of the combined company and Spectra Energy shareholders are expected to own approximately 43% . As a result of this transaction, Enbr