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Stock Market & Financial Investment News

News Breaks
December 20, 2012
16:52 EDTUPL, CORRCorEnergy sees Ultra Petroleum asset acquisition accretive to distribution
CorEnergy Infrastructure Trust (CORR) announced that it has closed its previously announced acquisition of a Liquids Gathering System from Ultra Petroleum (UPL). The LGS will continue to be operated by UPL under a long-term triple net lease. Located in the Pinedale field in Wyoming, the LGS is a vital component of natural gas production in one of the top five natural gas fields in the U.S. "We are pleased to have completed our largest acquisition of REIT-qualifying assets to-date," said CEO, David Schulte. "This is a mission-critical asset, with a high-quality tenant, and it represents a cornerstone for our energy infrastructure REIT strategy. The acquisition is accretive to our distribution and our Board of Directors has indicated that it intends to approve an increase in our quarterly distribution from 11c to 12.5c for the first full quarter following the acquisition. The REIT structure provides our investors direct access to U.S. energy infrastructure in an attractive vehicle with transparent cash flow."
News For CORR;UPL From The Last 14 Days
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January 26, 2015
16:26 EDTUPLMarathon Oil, Cobalt, RSP Permian downgraded at UBS
UBS lowered its Brent and WTI forecasts to $52.50 and $49 from $67.50 and $62.50, respectively, and downgraded a number of names in the energy space in conjunction. Along with making changes to its oil price forecasts, UBS downgraded Marathon Oil (MRO), Cobalt (CIE) and RSP Permian (RSPP), all to Neutral from Buy. The firm also identified ConocoPhillips (COP), Devon Energy (DVN), Murphy Oil (MUR), Ultra Petroleum (UPL), Range Resources (RRC), Denbury Resources (DNR), and Magnum Hunter (MHR) as having high valuations, slowing growth and wide free cash flow deficits and said it was cautious on all of those names as well.
January 23, 2015
05:51 EDTUPLStocks with implied volatility movement; BBRY UPL
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January 22, 2015
06:40 EDTCORRCorEnergy files $300M mixed securities shelf
January 15, 2015
09:36 EDTUPLUltra Petroleum upgraded to Accumulate from Hold at Tudor Pickering
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