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360 Articles

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 Reins, Cuts Dividend Growth in Half

MPLX LP Pulls Back the Reins, 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
Noble Energy Announces IPO for Midstream Assets

Noble Energy Announces IPO for Midstream Assets

Noble plans to form an MLP out of its midstream assets in the DJ Basin Houston-based Noble Energy (ticker: NBL) announced today that its wholly owned subsidiary Noble Midstream Partners has filed with the U.S. Securities and Exchange Commission (SEC) to perform an initial public offering of common units for a master limited partnership formed from the company’s DJ Basin[Read More…]

October 22, 2015 - 6:15 pm 360 Articles, Midstream, MLPs
Source: WPX

Vanguard Natural Resources Closing in on $1.1 Billion in Acquisitions

Vanguard closes on LRR Energy for $541 million Vanguard Natural Resources (ticker: VNR) announced today the closing of the previously announced deal to acquire LRR Energy. According to the company’s press release, a subsidiary of Vanguard merged into LRR Energy and, at the same time, Vanguard acquired LRE GP, the general partner of LRR Energy (collectively LRE) for total consideration[Read More…]

October 7, 2015 - 5:47 pm 360 Articles, Mergers & Acquisitions, MLPs
Energy Transfer Finally Locks Down Deal for Williams Companies at $37.7 Billion

Energy Transfer Finally Locks Down Deal for Williams Companies at $37.7 Billion

ETE Becomes Largest Energy Infrastructure Group Enterprise Value Now Exceeds that of BP, Total and Petrobras Energy Transfer Equity’s (ticker: ETE) long pursuit of Williams Companies (ticker: WMB) has come to an end. On September 28, 2015, ETE announced the acquisition of WMB for total consideration of $37.7 billion, including debt, representing a 10% premium to WMB stock price prior[Read More…]

September 28, 2015 - 7:03 pm 360 Articles, Downstream, Mergers & Acquisitions, MLPs
Sanchez Production Partners Acquires Eagle Ford Midstream Assets for $345 Million

Sanchez Production Partners Acquires Eagle Ford Midstream Assets for $345 Million

Sanchez Production Partners (ticker: SPP), a midstream-focused Master Limited Partnership, increased its footprint in the Eagle Ford with a $345 million cash acquisition announced on September 28, 2015. The assets, purchased from Sanchez Energy Corporation (ticker: SN) consist of 150 miles of gathering lines and associated infrastructure in four gathering and processing facilities. The transaction is expected to close in[Read More…]

September 28, 2015 - 6:47 pm 360 Articles, Analytics, Mergers & Acquisitions, MLPs
Enterprise Increases Credit Facility

Enterprise Increases Credit Facility

Enterprise Increases Capacity of Bank Credit Facilities by $500 Million to $5.5 Billion Enterprise Products Partners L.P. (NYSE:EPD) (“Enterprise”) announced today that its operating subsidiary, Enterprise Products Operating LLC (“EPO”), increased its bank credit facilities by $500 million to provide the company with up to $5.5 billion of aggregate borrowing capacity. The facilities consist of an amended $4.0 billion multi-year[Read More…]

September 16, 2015 - 2:27 pm 360 Articles, Midstream, MLPs
Williams Companies Weighing Takeover Offers; Energy Transfer Still in the Picture 

Williams Companies Weighing Takeover Offers; Energy Transfer Still in the Picture 

Analysts have pegged scores of oil and gas companies as potential takeover targets in the new commodity environment, but Williams Companies (ticker: WMB) is one of the few who has remained in the acquisition spotlight ever since a failed takeover attempt was made public in June. The rejected offer of $53.1 billion from Energy Transfer Equity (ticker: ETE) was refused[Read More…]

September 14, 2015 - 7:02 pm 360 Articles, Downstream, Midstream, MLPs, Regulatory
Source: Phillips 66

Berkshire Bolts on Another 3.5 Million Shares of Phillips 66

Warren Buffet looks to Phillips 66 Just eight days after the initial news that Warren Buffet’s Berkshire Hathaway Inc. (ticker: BRK.A) had invested $4.5 billion in Phillips 66, Buffet’s firm decided to purchase an additional 3.5 million shares of the company, bringing its total share in PSX to 11.4%. Berkshire’s stake in the company is now worth $4.96 billion, based[Read More…]

September 10, 2015 - 2:39 pm 360 Articles, Midstream, MLPs
Vanguard Natural Resources – Day Two Breakout Notes

Vanguard Natural Resources – Day Two Breakout Notes

Richard Robert, Executive Vice President and Chief Financial Officer of Vanguard Natural Resources, LLC (NASDAQ: VNR), presented today at EnerCom’s The Oil & Gas Conference® 20. Vanguard Natural Resources is a publicly traded limited liability company focused on the acquisition, production and development of oil and natural gas properties. Vanguard’s assets consist primarily of producing and non-producing oil and natural[Read More…]

August 20, 2015 - 1:08 pm 2015 TOGC, 2015 TOGC Two, 360 Articles, MLPs
Mid-Con Energy Partners – Day One Breakout Notes

Mid-Con Energy Partners – Day One Breakout Notes

Michael Peterson, Chief Financial Officer of Mid-Con Energy Partners (NASDAQ: MCEP), presented today at EnerCom’s The Oil & Gas Conference 20®. Mid-Con Energy Partners, LP is a publicly held Delaware limited partnership formed in July 2011 to own, acquire, exploit and develop producing oil and natural gas properties in North America, with a focus on Enhanced Oil Recovery. In its[Read More…]

August 18, 2015 - 11:27 am 2015 TOGC, 2015 TOGC One, 360 Articles, MLPs
Magellan Midstream Reports 21% Year-over-Year Income Growth

Magellan Midstream Reports 21% Year-over-Year Income Growth

Magellan Midstream reports second quarter results Oklahoma-based Magellan Midstream (ticker: MMP) reported its second quarter financial results, showing 21% in year-over-year income growth. In Q2, MMP reported $177.4 million in net income, an increase of $31.1 million from $146.3 million in the same period last year. Distributable cash flow (DCF) for the company also increased by 14% to $222.8 million[Read More…]

August 6, 2015 - 4:46 pm 360 Articles, Midstream, MLPs
EVX Midstream Announces Formation and $75 Million of Funding

EVX Midstream Announces Formation and $75 Million of Funding

Private equity firm Five Point Capital funds midstream MLP EVX EVX Midstream Partners announced its formation last Friday with a $75 million equity commitment from Five Point Capital Partners. EVX is a private midstream MLP that will focus on the development of crude oil, natural gas and produced water gathering, processing, treating and transportation assets in the Permian Basin, Eagle[Read More…]

July 21, 2015 - 5:47 pm 360 Articles, Midstream, MLPs
Energy Transfer Partners Announces $1.94 Billion Dropdown

Energy Transfer Partners Announces $1.94 Billion Dropdown

Energy Transfer Partners Moves Susser Holdings to Sunoco LP Energy Transfer Partners (ticker: ETP) announced that it plans a 100% dropdown of Susser Holdings Corp. (SHC) for approximately $1.94 billion to its subsidiary Sunoco LP (ticker: SUN). In addition, there will be an exchange for 11 million SUN units owned by SHC for another 11 million new Sun units to[Read More…]

July 15, 2015 - 6:33 pm 360 Articles, Mergers & Acquisitions, MLPs