The IRS lifted the pause on issuing private letter rulings allowing companies to form MLPs with their assets The Internal Revenue Service lifted its ‘pause’ on private letter rulings (PLRs) regarding what businesses qualify for tax-free inclusion in energy master limited partnerships (MLPs). The IRS decided to put a pause on issuing PLRs last April after a huge spike in
EIA: Scheduled 2015 utilities capacity additions will be mostly wind and natural gas Natural Gas Replacing Coal The Energy Information Administration (EIA) expects electrical generating companies to add more than 20 gigawatts (GW) of utility-scale generating capacity to the power grid in 2015. An estimated 91% of those new additions (18.2 GW) will come from a combination of wind (9.8
Southcross Energy announces Q4 and full-year 2014 results On March 6, Southcross Energy Partners (ticker: SXE) announced fourth quarter and full-year 2014 financial and operational results. SXE’s adjusted EBITDA was $20.6 million for the three months ended December 31, 2014, compared to $14.0 million in Q4’13 and $11.3 million in Q3’14, according to the company’s press release. The company’s adjusted
U.S. will be “NGL Storage Center for the World” New technology in the drilling and completions segment may receive the lion’s share of the credit for the shale boom, but the evolution of the midstream industry has enabled the United States to fully capitalize on our newfound domestic production capacity. In an Oil & Gas Journal webcast titled “U.S. Midstream
Reports Quarter-Over-Quarter Production Growth of nearly 30% in Q4’14 Mid-Con Energy Partners (ticker: MCEP), a U.S. E&P master limited partnership (MLP), announced its fourth quarter and full-year 2014 results this week. According to the release, production for fourth quarter 2014 averaged 4,011 BOEPD, an increase of 29.5% sequentially and 57.7% year-over-year. Adjusted EBITDA was $17.8 million, 16.7% more than in
Western Gas Partners Expands Delaware Basin Position Houston based Western Gas Partners (ticker: WES) yesterday announced the acquisition of Anadarko’s (ticker: APC) 50% interest in the Delaware Basin JV (DBJV) gathering system. Williams Companies (ticker: WMB) owns the other 50% of the pipeline and will continue to operate the pipeline. The DBJV assets are located in close proximity to the
Calumet Specialty Products Partners (ticker: CLMT) last week released its fourth quarter 2014 results. The independent refiner reported a net loss for the quarter ended December 31, 2014 of $63.5 million, or $(0.95) per diluted unit, compared to a net loss of $15.5 million, or $(0.27) per diluted unit, versus net income of $3.5 million, or $(0.17) per diluted unit, in
Targa Resources (ticker: TRGP) and Targa Resources Partners (ticker: NGLS) has officially acquired the midstream assets of both Atlas Energy (ticker: ATLS) and Atlas Pipeline Partners (ticker: APL). The non-midstream assets of ATLS will be spun off to Atlas Energy Group and will continue to trade under the ATLS ticker. The transaction is valued at $7.7 billion, and includes $5.8
MarkWest plans on increasing distribution thru 2020 During the company’s conference call today, Frank Semple, Chairman, President and Chief Executive Officer of MarkWest Energy Partners (ticker: MWE) announced that MWE expects to increase its distribution to approximately $3.70 for this year, $0.16 (or 4.5%) more than the company’s distribution in 2014. Mr. Semple also said that MarkWest expects to continue increasing
Enterprise, MarkWest, DCP, Anadarko Join Forces on Texas Pipe A joint venture to expand the Panola Pipeline was finalized on February 24, 2015, according to a press release by operator Enterprise Products Partners (ticker: EPD). Per the terms, EPD will retain a majority interest of 55% of the pipeline, while DCP Midstream Partners (ticker: DPM), Markwest Energy Partners (ticker: MWE)
In EnerCom’s Energy Industry Data and Trends for January 2015, the company examined the impact of hedges on the stock valuations of the companies that hedged versus those that did not. The research looked at companies’ performance over the eight cycles in crude oil commodity prices from January 2007, to December 2014. The chart below illustrates the closing near-month futures price
The dust is settling on the first phase of the global oil market share war. Oil has been hovering around $50/barrel for nearly a week – a long-awaited relief to the industry which was wondering, exactly, where is rock bottom? The recent stabilization of oil prices has prompted some analysts to make the necessary adjustments to their respective models and
