MLP News

Magellan Midstream says Iowa pipeline still shut after diesel spill

From Reuters:

Magellan Midstream Partners LP (MMP.N) said on Thursday its refined products pipeline in Worth County, Iowa, remained shut after spilling about 3,300 barrels of diesel.

Magellan said it expects to begin pipeline repairs later on …

January 30, 2017 - 11:20 am MLP News

Trump’s Pipeline Push Is ‘Very Bullish’ for MLPs; Shares Rise

From Barron’s:

Shares in energy infrastructure master limited partnerships (MLPs) continued to rise Wednesday, the day after President Donald Trump signed executive orders meant to clear a path for U.S. government approval of both the Keystone XL Pipeline and …

January 26, 2017 - 10:40 am Closing Bell Story‎, Energy News, MLP News

Court revives investor suit vs. ETP over $11 billion pipeline deal

From Reuters:

A Delaware court revived an investor lawsuit against Energy Transfer Partners (ETP.N) over its $11 billion acquisition of Regency Energy Partners in a case focused on protections for investors in master limited partnerships.

The Delaware …

January 24, 2017 - 4:37 pm Closing Bell Story‎, Energy News, MLP News

Moody’s assigns Ba2 rating to Energy Transfer Equity’s senior secured term loan

From Moody’s:

Moody’s Investors Service, (“Moody’s”) assigned a Ba2 rating to Energy Transfer Equity, L.P.’s (ETE) proposed offering of a $2.2 billion senior secured term loan due 2024. The Ba2 Corporate Family Rating (CFR), Ba2-PD Probability of Default Rating …

January 23, 2017 - 11:07 am Energy News, MLP News

Teekay LNG completes Norwegian bond issuance

Teekay LNG Partners L.P. (Teekay LNG or the Partnership) (TGP) announces that it has successfully issued NOK 300 million (equivalent to approximately USD 35 million) in new senior unsecured bonds through an add-on to its existing Norwegian bonds …

January 23, 2017 - 11:06 am Energy News, MLP News

Houston MLP files Ch. 11 after more lenders get on board with restructuring plan

From Houston Business Journal:

After reaching an agreement with more lenders, Houston-based Memorial Production Partners LP (Nasdaq: MEMP) announced Jan. 16 it filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code.

The move was expected since December, …

January 23, 2017 - 11:05 am Energy News, MLP News

Plains All American to boost capacity on Permian Basin to Corpus Christi pipeline

From San Antonio Business Journal:

Plains All American Pipeline LP (NYSE: PAA) announced plans to boost capacity along a 310-mile pipeline that moves crude oil from the Permian Basin to refineries and storage terminals in Three Rivers, the Port …

January 23, 2017 - 11:02 am Energy News, MLP News

Valero Energy Partners acquires $70M stake in new pipeline

From San Antonio Business Journal:

A subsidiary of Valero Energy Partners LP acquired a 40 percent stake in a new 138-mile segment of a pipeline in Oklahoma for about $70 million, according to a news release.

Valero Partners Wynnewood …

January 23, 2017 - 10:57 am Energy News, MLP News

North Dakota landowners sue over pipeline easement payments

From Reuters:

Over a dozen landowners in North Dakota have filed a lawsuit against a company involved in the development of the Dakota Access Pipeline, charging they were misled into accepting unfair compensation for allowing the pipeline to cross

January 23, 2017 - 10:55 am Energy News, MLP News

Trump Places Freeze on Issuance of Final Regulations Defining MLP Qualifying Income and Other Recent Guidance

From Baker Botts:

On Friday, the Trump Administration placed a freeze on the issuance of final regulations defining MLP qualifying income and other recent guidance. This freeze is similar to freezes imposed by Presidents Reagan, Clinton, George W. Bush …

January 23, 2017 - 10:19 am Closing Bell Story‎, MLP News

Wisconsin Tribe Votes Against Renewing Enbridge Pipeline Agreements

From Reuters:

A Native American tribe in Wisconsin has voted against renewing agreements allowing Enbridge Inc to use their land for a major crude oil pipeline, the latest sign of increasing opposition to North American energy infrastructure.

The Bad …

January 16, 2017 - 11:21 am Energy News, MLP News

Energy Transfer Partners Announces Pricing of $1.5 Billion of Senior Notes

From Energy Transfer Partners:

Energy Transfer Partners, L.P. (NYSE: ETP) today announced the pricing of $600 million aggregate principal amount of its 4.20% senior notes due 2027 and $900 million aggregate principal amount of its 5.30% senior notes due …

January 16, 2017 - 11:19 am Energy News, MLP News

A Popular U.S. Gas Bet’s at Risk of Crumbling on Pipeline Logjam

From Bloomberg:

Potential delays looming over three major U.S. natural gas pipeline projects are threatening to sour a popular wager on the fuel.

Gas for delivery in April 2018 is trading at a steep discount to the March contract, …

January 16, 2017 - 11:18 am Energy News, MLP News

Memorial Production Partners LP Announces Plan Support Agreement and Agreement-in-Principle on Comprehensive Financial Restructuring to Deleverage Balance Sheet

From Memorial Production Partners:

Memorial Production Partners LP (NASDAQ:MEMP) (“MEMP” or “the Partnership”) today announced that it has entered into a Plan Support Agreement (“PSA”) with holders of 50.2% of the Partnership’s 7.625% senior notes due 2021 and the …

January 16, 2017 - 11:17 am Energy News, MLP News

HollyFrontier Corporation and Holly Energy Partners Announce Senior Management Changes

From HollyFrontier Corporation:

HollyFrontier Corporation (NYSE: HFC) (“HollyFrontier”) and Holly Energy Partners, L.P. (NYSE: HEP) (“Holly Energy”) announced changes to senior management relating to HollyFrontier’s pending acquisition of Suncor Energy’s Petro-Canada Lubricants business (“PCLI”). The PCLI plant, located in …

January 16, 2017 - 11:16 am Energy News, MLP News

Williams Closes $1.9 Billion Public Offering

From Williams:

-Williams (NYSE: WMB) (“Williams”) today announced the closing of its previously announced public offering of 65 million shares of Williams common stock at $29.00 per share.

Williams has granted the underwriters a 30-day option, effective from January 9, …

January 16, 2017 - 11:14 am Energy News, MLP News
John Fox, Co-Founder of MarkWest Hydrocarbon, Issues Open Letter To MPC Board

John Fox, Co-Founder of MarkWest Hydrocarbon, Issues Open Letter To MPC Board

John Fox, Co-Founder Of MarkWest Hydrocarbon, Issues Open Letter To The Board Of Directors Of Marathon Petroleum Corporation Against MPC’s Proposed January 3, 2017 Plan And Offers New Plan

-Accelerated “dropdown” of refining assets hurts long-term MPC value and vastly

January 11, 2017 - 5:09 pm Closing Bell Story‎, Energy News, Midstream, MLP News, MLPs

BUCKEYE PARTNERS, L.P. ANNOUNCES CLOSING OF $1.15 BILLION ACQUISITION OF 50% EQUITY INTEREST IN VTTI B.V.’s GLOBAL MARINE TERMINAL BUSINESS

Buckeye Partners, L.P. (“Buckeye”) (NYSE: BPL) announced today that it has completed its $1.15 billion purchase of a 50 percent equity interest in VTTI B.V. (“VTTI”), which will be owned jointly with Vitol. 1 VTTI owns and operates 54.5 million …

January 9, 2017 - 10:43 am Energy News, MLP News

Boardwalk Prices $500 Million Offering Of Senior Notes

Boardwalk Pipeline Partners, LP (BWP) today announced that its wholly-owned subsidiary, Boardwalk Pipelines, LP (“Boardwalk”), has priced a public offering of $500 million aggregate principal amount of 4.450% senior notes due 2027. Boardwalk expects the offering to close …

January 9, 2017 - 10:39 am Energy News, MLP News

Southcross Energy Announces Leadership Change

Southcross Energy Partners, L.P. (SXE) (“Southcross”) and Southcross Holdings LP (“Holdings”) announced today a consolidation of the roles of Chairman and Chief Executive Officer of their respective general partners.  Bruce A. Williamson, currently the Executive Chairman of Holdings …

Energy Transfer Partners, L.P. Announces Private Placement of $568 Million of Common Units with Energy Transfer Equity, L.P.

Energy Transfer Partners, L.P. (ETP) today announced that it has entered into a definitive agreement with Energy Transfer Equity, L.P. (ETE) in connection with a private placement of common units representing limited partner interests in ETP …

January 9, 2017 - 10:34 am Closing Bell Story‎, Energy News, MLP News

Tallgrass Energy and Rockies Express Pipeline Announce Completion of REX’s Zone 3 Capacity Enhancement Project

Tallgrass Energy and Rockies Express Pipeline LLC (“REX”) announced today that the 0.8 billion cubic feet per day REX Zone 3 Capacity Enhancement Project is substantially complete and accepting nominations. REX’s Zone 3 continues to be capable of bidirectional natural …

January 9, 2017 - 10:33 am Energy News, MLP News
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 …