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Stock Market & Financial Investment News

News Breaks
July 14, 2014
19:08 EDTAMIDAmerican Midstream to acquire DCP Midstream assets for $115M
American Midstream Partners announced the execution of a Purchase and Sale Agreement with an affiliate of DCP Midstream to acquire entities holding onshore natural gas processing and offshore natural gas gathering and transportation and oil gathering assets for consideration of approximately $115M. The acquisition is expected to be funded through the private placement of American Midstream common units. The acquisition is expected to close in August, subject to approval under Hart-Scott-Rodino and other customary closing conditions. The assets to be acquired include the Mobile Bay gas processing plant, Dauphin Island gathering and transmission system, and DCPís interest in the Main Pass Oil Gathering System. American Midstream updated its forecast for 2014 adjusted EBITDA to a range of $44M-$47M and distributable cash flow to a range of $24M-$27M. The updated 2014 forecast includes the assets to be acquired from DCP, including assumptions for costs associated with acquisition integration and company growth, and does not include other acquisitions, drop downs, or asset development projects the partnership is pursuing. Forecasted growth capital expenditures in 2014, which exclude capital for maintenance, were updated to a range of $65M-$70M to account for accelerated capital costs to accommodate faster drilling and higher throughput for the producer customer on the Lavaca natural gas gathering system that is under construction.
News For AMID From The Last 14 Days
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October 14, 2014
14:09 EDTAMIDAmerican Midstream Partners raises FY14 adjusted EBITDA view to $46M-$48M
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14:01 EDTAMIDAmerican Midstream Partners aims to up 1Q15 distribution
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13:51 EDTAMIDAmerican Midstream Partners acquires Costar for $470M
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11:04 EDTAMIDAmerican Midstream Partners trading halted, pending news
October 8, 2014
14:27 EDTAMIDAmerican Midstream Midla reaches agreement regarding Midla Pipeline
American Midstream Midla, a subsidiary of American Midstream Partners, announced an agreement in principle regarding Midlaís interstate pipeline that traverses Louisiana and Mississippi. Parties involved reached the agreement in principle in order to provide continued service to Midlaís customers while addressing safety concerns with the existing pipeline. Midla and the parties agreed that Midla may retire the existing 1920s vintage pipeline and replace the existing natural gas service with a new 12-inch pipeline from Winnsboro, Louisiana to Natchez, Mississippi to serve existing residential, commercial, and industrial customers. Customers not served by the new Natchez Line will be connected to other interstate or intrastate pipelines, other gas distribution systems, or offered conversion to propane service. The agreement is subject to final agreements and ongoing proceedings at the Federal Energy Regulatory Commission. Under the agreement in principle and subject to FERC approval, Midla will execute long-term agreements to recover its investment in the Natchez Line. Midla estimates it will take up to two years to secure the necessary permits and construct the Natchez Line. Midla anticipates filing a formal settlement with the FERC within the next 30 days and receiving approval by late 2014 or early 2015.

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