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May 28, 2014
09:02 EDTRGP, ENLKEnLink, Regency Energy potential underappreciated, says Oppenheimer
Oppenheimer expects structural transformations at EnLink (ENLK) and Regency Energy (RGP) to drive a step change in their 2015 financial results. The firm thinks that investors underappreciate the companies' 2015 potential, and it expects the stock to rally over the course of 2H14. Oppenheimer keeps Outperform ratings on both names.
News For ENLK;RGP From The Last 14 Days
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October 1, 2015
16:16 EDTENLKEnLink Midstream Partners completes acquisition of Delaware Basin assets
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September 28, 2015
13:01 EDTENLKAnalyst says Sanchez Energy's asset sale to strengthen liquidity position
Shares of Sanchez Energy (SN) surged after the company said it plans to sell certain Eagle Ford Shale midstream assets to Sanchez Production Partners (SPP) for $345M. WHAT'S NEW: Sanchez Energy said it reached an agreement with Sanchez Production Partners under which SPP will acquire and operate certain midstream assets located on the Western part of its Catarina asset in the Eagle Ford Shale in South Texas for cash consideration of roughly $345M. As part of the divestiture, Sanchez Energy said it will sell roughly 150 miles of midstream gathering lines and associated midstream infrastructure concentrated in four gathering and processing facilities. The deal is expected to close in October. In a statement, Sanchez Energy chief Executive Officer Tony Sanchez III said the midstream sale "highlights our ability to capture the full spectrum of value in our asset base, raise capital outside of traditional markets and improve our financial flexibility." Sanchez Energy also confirmed this morning that its third quarter 2015 average production will "likely meet or exceed" the high end of the previous guidance range of 46,000-50,000 barrels of oil equivalent per day. The company said it is still confident that it can build a 20-30 well bank toward its 50-well per year drilling commencement at Catarina at its current rig count. WHAT'S NOTABLE: Affiliates of Pioneer Natural Resources (PXD) and Reliance Holding USA sold off pipelines and other midstream assets in the Eagle Ford to Enterprise Product Partners (EPD) in July for $2.15B to be paid in two installments, and Matador Resources (MTDR) recently sold off similar assets to EnLink Midstream Partners (ENLK) for $143M. Meanwhile, Sanchez Production Partners said it will recommend that the board of directors of its general partner approve a plan to start distributions at an initial annualized rate of $1.60 per share. STREET RESEARCH: Northland Capital Markets analyst Jeff Grampp said that the proceeds from the announced asset sale will strengthen Sanchez Energy's "already meaningful" liquidity position and set up the company well for opportunistic acquisitions. The analyst said that even though the company previously discussed the possible sale of midstream assets, the move's value capture is "meaningfully positive" and underappreciated by the market. Grampp reiterated an Outperform rating and $12 price target on the stock. PRICE ACTION: In midday trading, Sanchez Energy is up 5.82% to $5.64 and Sanchez Production Partners is up 88.89% to $8.84.
September 23, 2015
05:57 EDTENLKEnLink Midstream initiated with a Buy at Jefferies
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