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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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November 19, 2014
06:05 EDTCORRCorEnergy 13M share Secondary priced at $6.80
BofA/Merrill and Wells Fargo acted as joint book running managers for the offering.
November 17, 2014
16:03 EDTCORRCorEnergy to acquire MoGas Pipeline for $125M
CorEnergy Infrastructure Trust announced that it has entered into a definitive agreement to acquire the ownership and operations of the MoGas Pipeline System for $125Min cash This 263-mile pipeline is a critical supplier of natural gas in and around the St. Louis region and to small municipalities throughout central Missouri. CorEnergy intends to finance the acquisition cost with a combination of borrowings under its credit facility and with proceeds of our simultaneously announced public offering of common stock. “We are pleased to add an interstate pipeline to our diversified portfolio of infrastructure assets used by utilities, storage terminal operators, and natural gas producers,” said David Schulte, CEO of CorEnergy. “Our Board of Directors has confirmed its intent to increase the dividend from 13c to 13.5c for the quarter ended March 31, 2015, or 54c cents per share annualized, based upon management’s expectation that the increase is sustainable.”
16:02 EDTCORRCorEnergy files to sell 13M shares of common stock
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