Post Tagged with: "MPC"

Refiners Join Forces: Marathon to Acquire Andeavor for $23 Billion

Refiners Join Forces: Marathon to Acquire Andeavor for $23 Billion

Deal will create the largest U.S. refiner

Marathon Petroleum Corp. (ticker: MPC) and Andeavor (ticker: ANDV) have entered into a definitive merger agreement under which MPC will acquire all of ANDV’s outstanding shares, representing a total equity value of $23.3 …

Marathon Petroleum Earns $3.43 Billion in 2017, $5.5 Billion MPLX Offering

Marathon Petroleum Earns $3.43 Billion in 2017, $5.5 Billion MPLX Offering

Marathon Petroleum Corp. (ticker: MPC) earned $2.02 billion, or $4.09 per diluted share, in Q4 2017. This is significantly more than in Q4 2016, where the company had earnings of $227 million, or $0.43 per diluted share. FY 2017 earnings …

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Rex Energy Announces New CFO

Marathon, TORC also announce changes

Rex Energy Corporation (ticker: REXX) announced today that it has appointed Curt Walker, the company’s current chief accounting officer, to the position of CFO, effective immediately.

Walker will be responsible for all financial, accounting and …

Enbridge Line 3 pipeline construction, in Hardisty, Alta., on Thursday August 3, 2017.THE CANADIAN PRESS/Jason Franson

Enbridge and Spectra Energy Eliminate Incentive Distribution Rights

Enbridge Inc. (ticker: ENB) and Spectra Energy Partners, LP (ticker: SEP) announced today their execution of a definitive agreement resulting in Enbridge converting all of its incentive distribution rights (IDRs) and general partner (GP) economic interests in Spectra Energy Partners …

Former MarkWest CEO John M. Fox to Marathon and MPLX: Your Multiple is Over the Top

Former MarkWest CEO John M. Fox to Marathon and MPLX: Your Multiple is Over the Top

Stated target value to eliminate Incentive Distribution Rights (IDRs) is in question: Fox says that Marathon Petroleum’s 15x – 20x multiple for elimination of IDRs will damage MPLX unitholders, including MPC, the largest MPLX unitholder

John M. Fox, co-founder and …