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Oil & Gas 360 Energy News

DCP Partners Combination Creates Largest U.S. NGL Producer and Gas Processor

Acquisition Simplifies Complex Corporate Structure, Reduces Operating Costs DCP Midstream, LLC announced that it will combine with DCP Midstream Partners, LP (ticker: DPM), simplifying the corporate structure and creating the largest natural gas liquids producer and gas processor in the U.S. The combined company, to be named DCP Midstream, LP and trade under the ticker DCP, will have an enterprise value[Read More…]

Howard Energy Partners Reveille Processing Plant

Veresen Announces New Capital Allocations to Montney Midstream Projects

95% of 2017 Capital Program Focused on Montney, $195 million to Support Liquids-rich Gas Handling Veresen Inc. (ticker: VSN) has announced the sanction of an additional $195 million to new gas processing facilities at Veresen Midstream, further expanding its footprint in the prolific, liquids rich Montney region of Northern Alberta and British Columbia. This builds on the company’s recently announced[Read More…]

December 28, 2016 - 5:10 pm 360 Articles, Canada, Closing Bell Story, Midstream, MLPs
ETP Simplifies Structure with $20 Billion Sunoco Acquisition

ETP Simplifies Structure with $20 Billion Sunoco Acquisition

Continuing the recent trend of multibillion-dollar mergers in the midstream sector, Sunoco Logistics Partners L.P. (ticker: SXL) and Energy Transfer Partners, L.P. (ticker: ETP) announced that they have entered into a merger agreement in which Sunoco will acquire ETP in a unit-for-unit transaction worth $20 billion. CEO Kelcy Warren is seeking to merge the two pipeline arms of his Energy Transfer group in[Read More…]

Source: BP

A $2 Billion MLP: American Midstream Partners – JP Energy Merger

ArcLight Capital Partners combines two of its sponsored MLPs into one entity American Midstream Partners (ticker: AMID) announced that it will merge with JP Energy Partners (ticker: JPEP) in a unit-for-unit deal, forming an MLP with a $2 billion enterprise value, according to the company’s press release Monday. Both companies are sponsored by ArcLight Capital Partners, which will combine the[Read More…]

October 24, 2016 - 5:45 pm 360 Articles, Closing Bell Story, Mergers & Acquisitions, MLPs
Permian Moves:  Sunoco Logistics Purchases Permian Midstream Assets for $760 Million

Permian Moves: Sunoco Logistics Purchases Permian Midstream Assets for $760 Million

Sunoco acquisition of Vitol’s Permian assets expands the company’s midstream infrastructure at the premier plays in the country Netherlands-based energy trader Vitol Group announced last week that its partner in its Permian Basin crude oil system, Pennsylvania-based MLP Sunoco Logistics (ticker: SXL) will purchase an integrated crude oil business in West Texas for approximately $760 million plus working capital. The[Read More…]

October 6, 2016 - 5:26 pm 360 Articles, Closing Bell Story, Mergers & Acquisitions, MLPs
Noble Midstream IPO Could Open the Doors to Capital for Other MLPs

Noble Midstream IPO Could Open the Doors to Capital for Other MLPs

Noble Midstream Partners receives more than anticipated for IPO Noble Energy (ticker: NBL) announced a public offering for its MLP subsidiary Noble Midstream Partners (ticker: NBLX) last week with the hope of garnering an offer price between $19.00 and $21.00 roughly 10 months after the company postponed an IPO of the same assets. Today, Noble announced that it received $22.50[Read More…]

September 15, 2016 - 6:02 pm 360 Articles, Closing Bell Story, Midstream, MLPs
Obama Administration Halts Work on Dakota Access Pipeline

Obama Administration Halts Work on Dakota Access Pipeline

Administration Overturns Federal Court Ruling, Halts Work on $3.8 Billion Dakota Access Pipeline In a surprise statement on Friday, the Obama administration said that it would not issue the easements necessary for construction to begin on a portion of the Dakota Access Pipeline project planned to run under Lake Oahe in North Dakota, just north of the boundaries of the[Read More…]

Noble Energy Looks to IPO Midstream Assets for a Second Time

Noble Energy Looks to IPO Midstream Assets for a Second Time

Noble hopes to raise around $270 million with midstream MLP IPO Ten months after postponing the IPO of its wholly owned subsidiary Noble Midstream Partners, Noble Energy (ticker: NBL) announced that plans for a public offering are back on the front burner. The Houston-based company said that it plans to offer 12.5 million common units with the option for an[Read More…]

September 8, 2016 - 5:19 pm 360 Articles, Closing Bell Story, MLPs
Mid-Con Energy Partners – Day One Breakout Notes

Mid-Con Energy Partners – Day One Breakout Notes

Mid-Con Energy Partners presents at EnerCom’s The Oil & Gas Conference®  During Mid-Con Energy Partners’ breakout session, management was asked the following questions:  How do you balance debt reduction with your distribution on common units?  Is there some sort of formula to structure wells based on LOE?  What is your overall company decline rate? What are you seeing with regard[Read More…]

August 15, 2016 - 11:17 am 360 Articles, Closing Bell Story, MLPs, TOGC21
EnerCom Conference Presenter Focus: Black Stone Minerals L.P.

EnerCom Conference Presenter Focus: Black Stone Minerals L.P.

Black Stone Minerals will present at EnerCom’s The Oil & Gas Conference® 21 on Aug. 17, 2016. Black Stone Minerals, L.P. is one of the largest holders of mineral and royalty interests focused on oil and gas properties in the U.S. The company’s interests include approximately 17 million gross acres in more than 40 states and every major producing basin[Read More…]

August 9, 2016 - 6:54 pm 360 Articles, Closing Bell Story, Company Spotlight, MLPs
Energy Transfer Terminates Williams Merger, Williams Says It Will Seek Damages

Energy Transfer Terminates Williams Merger, Williams Says It Will Seek Damages

Decision hinged on tax opinion from Latham & Watkins LLP After months of corporate wrangling, court actions and contested negotiating, a Delaware judge ruled on June 24, 2016 that Energy Transfer Equity (ticker: ETE) could withdraw from its merger agreement with The Williams Companies (ticker: WMB). In a press release issued June 29th, Energy Transfer Equity, L.P.  announced that it had[Read More…]

Today’s Deadline Tells the Tale for the Williams Companies, Energy Transfer Merger

Today’s Deadline Tells the Tale for the Williams Companies, Energy Transfer Merger

Update: Energy Transfer wins court ruling in Williams Companies merger A Delaware judge ruled on Friday that Energy Transfer Equity LP can escape a proposed merger with Williams Companies over tax fears. Williams had suggested the fears over an unexpected tax were illegitimate and was merely a ploy by Energy Transfer to duck out of the deal. The judge ruled[Read More…]

Williams Companies, Energy Transfer Equity Square Off Again

Williams Companies, Energy Transfer Equity Square Off Again

Williams takes further legal action against ETE on Friday  On Friday, May 13, The Williams Companies (ticker: WMB) filed an action in the Delaware Court of Chancery seeking a Declaratory Judgment and Injunction preventing Energy Transfer Equity (ticker: ETE) from terminating or otherwise avoiding its obligations under the merger agreement it entered into with Williams on September 28, 2015. Williams said it asked[Read More…]

May 16, 2016 - 1:40 pm 360 Articles, Closing Bell Story, Midstream, MLPs, People
Linn Energy Files, Pushing Oil & Gas Bankruptcies to $11.8 Billion this Week

Linn Energy Files, Pushing Oil & Gas Bankruptcies to $11.8 Billion this Week

Linn Energy files bankruptcy with $9.4 billion in debt on the balance sheet The total dollar amount of oil and gas bankruptcies grow substantially this week when Linn Energy (Ticker: LINE) announced that it has filed for Chapter 11 on May 11, 2016. The company said previously that current commodity prices, mixed with its weak balance sheet could potentially make[Read More…]

May 12, 2016 - 6:49 pm 360 Articles, Closing Bell Story, MLPs
MPLX LP Reports First Quarter 2016 Financial Results

MPLX LP Reports First Quarter 2016 Financial Results

Reported first-quarter adjusted EBITDA of $302 million; distributable cash flow of $236 million Declared distribution of $0.505 per common unit, a 23 percent increase over first-quarter 2015 Announced a $1 billion private placement of convertible preferred securities with third-party investors Completed acquisition of Marathon Petroleum Corporation`s inland marine business, with strong sponsor support for the transaction Reaffirmed guidance of 12[Read More…]

$37.7 Billion Energy Transfer Equity Merger Sours

$37.7 Billion Energy Transfer Equity Merger Sours

Williams Companies claim Energy Transfer Equity is breaching their merger agreement Williams Companies (ticker: WMB) is suing Energy Transfer Equity (ticker: ETE) for breaching their merger agreement. In September of last year, ETE offered to acquire Williams for total consideration of $37.7 billion, representing a 10% premium on WMB’s stock prior to the opening bell on September 28, when the[Read More…]

Energy and Power Subcommittee Approves Draft of the Pipeline Safety Act of 2016

Energy and Power Subcommittee Approves Draft of the Pipeline Safety Act of 2016

The Energy and Power Subcommittee has unanimously approved a discussion draft of the Pipeline Safety Act of 2016 to the full committee for consideration. The committee is working to enact pipeline safety reform and the bill is in the mark-up phase. “I know the hard working folks that own and operate the millions of miles of pipelines that crisscross the[Read More…]

March 17, 2016 - 2:20 pm 360 Articles, Closing Bell Story, Midstream, MLPs, Regulatory
The Rise and Fall of Linn Energy

The Rise and Fall of Linn Energy

From a $261 million IPO, to a top-20 publicly traded E&P, to possible bankruptcy Linn Energy (ticker: LINE, LinnEnergy.com) became one of the largest publicly-traded U.S. E&P companies over the course of its now 13 years of operations. Started in 2003 by Michael Linn, the company first listed on the stock market in January 2006 before going on to make[Read More…]

March 16, 2016 - 4:28 pm 360 Articles, Closing Bell Story, MLPs
Could E&P Bankruptcy Destabilize Midstream MLPs?

Could E&P Bankruptcy Destabilize Midstream MLPs?

Bankrupt E&P companies looking to end pipeline agreements The downturn in oil prices took a serious toll on the U.S. E&P market last year, with 42 companies filing for bankruptcy in 2015. Those companies’ total debt amounted to $17.85 billion, and many of them are seeking to restructure under Chapter 11. As part of that restructuring, many oil and gas[Read More…]

March 7, 2016 - 6:26 pm 360 Articles, Closing Bell Story, Midstream, MLPs
Energy Capital Firms Adding Horsepower

Energy Capital Firms Adding Horsepower

Tailwater, Stephens Make Executive Hires Tailwater Brings in MLP/Midstream Vet Stephen Lipscomb Dallas-based Tailwater Capital LLC is continuing to grow its team with the addition of Stephen Lipscomb as a vice president. Lipscomb brings nine years’ experience including midstream operations, private equity and investment banking, Tailwater said in a press release. Lipscomb was a senior director at Crestwood Equity Partners, a publicly-traded master limited[Read More…]

Oil & Gas 360 Energy News

MLPs: Time for a Second Look?

MLPs: Finding Yield After seven years of the most accommodative monetary policy in U.S. history, Janet Yellen and the Federal Reserve decided on December 16, 2015 to raise the federal funds target rate from 0 to 0.25 percent to 0.25 to 0.5 percent. This marked a change in opinion of the Federal Open Market Committee regarding the health of the U.S.[Read More…]

February 25, 2016 - 5:00 pm 360 Articles, Closing Bell Story, Commodity Pricing, Midstream, MLPs
MPLX LP Pulls Back the Reigns, Cuts Dividend Growth in Half

MPLX LP Pulls Back the Reigns, Cuts Dividend Growth in Half

Just 63 days after the close of a transformative purchase of MarkWest Energy Partners, Marathon Petroleum, the General Partner of MPLX LP (ticker: MPLX), is downwardly adjusting its dividend growth plan for the MLP – plans that it made public during the company’s Analyst Day presentation on December 3, 2015. MPLX, the limited partner of Marathon Oil Corporation (ticker: MPC),[Read More…]

MLPs in a World of $30 Oil: An exclusive interview with Alerian President and CEO Kenny Feng

MLPs in a World of $30 Oil: An exclusive interview with Alerian President and CEO Kenny Feng

Master Limited Partnerships (MLPs) have become a popular financial structure for investors in the energy space. The MLP structure avoids a corporate tax, allowing the MLP to distribute more of its cash flow in dividends to unitholders compared to traditional C-corporations. MLPs tied to midstream infrastructure offer companies a vehicle to maximize the payout from long-life assets, which are generally[Read More…]

February 3, 2016 - 5:52 pm 360 Articles, Closing Bell Story, Midstream, MLPs
MarkWest Energy: Anatomy of a Bad Deal

MarkWest Energy: Anatomy of a Bad Deal

MarkWest Energy:  Sold.  “For Pennies on the Dollar.”  Unitholders Say “No” on Management Bonus Payments MarkWest Energy Partners (ticker: MWE) distributed a news release announcing that unitholders approved the merger with MPLX (ticker: MPLX), an MLP created by Marathon Petroleum (ticker: MPC).  From the MarkWest news release:  “Based on the voting results, approximately 80 percent of the units voted at[Read More…]

December 2, 2015 - 6:23 pm 360 Articles, Analytics, Closing Bell Story, Midstream, MLPs, Trending
Noble Postpones IPO of Midstream MLP

Noble Postpones IPO of Midstream MLP

Noble Energy sites weak markets Houston-based Noble Energy (ticker: NBL) announced today that it will postpone an IPO of its wholly owned subsidiary Noble Midstream Partners, which the company planned to list on the New York Stock Exchange with the ticker NBLX. According to Noble, the company made the decision “as a result of unfavorable equity market conditions.” Noble said[Read More…]

November 20, 2015 - 6:14 pm 360 Articles, Closing Bell Story, Midstream, MLPs
Energy Transfer Partners Completes Dropdown of Remaining Retail Business for $2.2 Billion

Energy Transfer Partners Completes Dropdown of Remaining Retail Business for $2.2 Billion

Latest dropdown brings total transactions to $5.7 billion in just over a year Energy Transfer Partners (ticker: ETP) announced the dropdown of its remaining retail business to Sunoco LP (ticker: SUN) for total consideration of $2.226 billion. Energy Transfer Partners’ dropdown consisted of its remaining 68.42% interest in Sunoco, as well as its 100% interest in the legacy Sunoco retail[Read More…]

November 17, 2015 - 5:09 pm 360 Articles, Closing Bell Story, Mergers & Acquisitions, MLPs
MLP Third Quarter 2015 Earnings

MLP Third Quarter 2015 Earnings

MLP Earnings for the Three Months Ended September 30, 2015 November 12 Alta Mesa Holdings, LP Sanchez Production Partners – NYSE MKT: SPP Shell Midstream Partners, L.P. – NYSE: SHLX November 10 American Midstream Partners, LP – NYSE: AMID AmeriGas Partners, L.P. – NYSE: APU Black Stone Minerals, L.P. – NYSE: BSM JP Energy Partners LP – NYSE: JPEP Rentech[Read More…]

November 2, 2015 - 9:59 am 360 Articles, Earnings, MLPs
Oil & Gas 360 Energy News

Are MLPs Losing Favor?

Back in November 2014, Oil & Gas 360® asked an analysts who follows the MLP space closely  if MLPs were a fad. He responded, “This is like asking me if Western Civilization is a fad.” That exchange occurred on Nov. 18, 2014, nine days prior to last Thanksgiving Day’s OPEC announcement. The very one that sent the price of crude oil—along with[Read More…]

October 30, 2015 - 1:54 pm 360 Articles, MLPs, Regulatory
$17 Billion and Counting: The Oil Writeoffs are Piling Up Fast

$17 Billion and Counting: The Oil Writeoffs are Piling Up Fast

Oil prices climbed on the eve of October’s busiest day of earnings season, but significant impairment charges put a damper on the brief rally. Large scale oil producers wrote off billions in the early stages of Q3’15 earnings, as Anadarko Petroleum (ticker: APC), Freeport McMoRan (ticker: FMX), Occidental Petroleum (ticker: OXY) and Whiting Petroleum (ticker: WLL) wrote off more than[Read More…]

October 28, 2015 - 7:00 pm 360 Articles, E&P, Finance, Midstream, MLPs
Western Refining Pitches $2.56 Billion Buyout Offer for Northern Tier Energy

Western Refining Pitches $2.56 Billion Buyout Offer for Northern Tier Energy

Purchased First NTI Stake in 2013 Western Refining (ticker: WNR) is attempting to enhance its Midwest footprint, proposing a $2.56 billion buyout deal of Northern Tier Energy LP (ticker: NTI). WNR already owns 100% of the partnership and 38% of NTI shares. The proposal consists of a cash-and-stock offer that includes $17.50 and 0.2266 shares of WNR in exchange for[Read More…]

October 26, 2015 - 6:54 pm 360 Articles, Downstream, Mergers & Acquisitions, MLPs