New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
December 20, 2012
16:52 EDTCORR, UPLCorEnergy 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
Check below for free stories on CORR;UPL the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
August 15, 2014
10:01 EDTUPLOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
09:10 EDTUPLOn The Fly: Pre-market Movers
Subscribe for More Information
08:58 EDTUPLUltra Petroleum upgraded to Overweight from Equalweight at Capital One
Subscribe for More Information
07:03 EDTUPLUltra Petroleum upgraded at UBS
Subscribe for More Information
06:14 EDTUPLUltra Petroleum upgraded to Buy from Neutral at UBS
August 14, 2014
08:48 EDTUPLUltra Petroleum to host conference call
Conference call to discuss agreement to acquire Pinedale will be held on August 14 at 10 am. Webcast Link
08:31 EDTUPLUltra Petroleum announces Pinedale acquisition for $925M
Ultra Petroleum announced that the company has signed a purchase and sale agreement to acquire all Pinedale field properties from SWEPI, LP, an affiliate of Royal Dutch Shell, in exchange for a portion of Ultra's Marcellus Shale properties and cash consideration of $925M. Ultra Petroleum expects to finance the acquisition through the issuance of new debt at the subsidiary and parent level. The transaction is expected to close in the third quarter with an effective date of April 1. Ultra Petroleum is acquiring Shell's interest in the Pinedale field, which is currently producing approximately 189M cubic feet equivalent per day of natural gas and condensate. As a result of the transaction, Ultra Petroleum will operate approximately 1,577 gross wells, or about 68% of the Pinedale field. In exchange, Shell will receive $925M and approximately 155,000 net acres in the Marcellus Shale which is primarily located in Tioga and Potter counties. Shell will obtain approximately 100 MMcfe per day of natural gas production.
August 11, 2014
09:05 EDTCORRCorEnergy reports Q2 adjusted FFO 14c, three estimates 5c
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use