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Stock Market & Financial Investment News

News Breaks
June 26, 2014
07:36 EDTRRC, ETP, AR, ETEEnergy Transfer Partners to build pipeline to transport natural gas
Energy Transfer Partners (ETP) announced that its Board of Directors has approved building a pipeline to transport natural gas from processing facilities located in the prolific Marcellus and Utica Shale areas to numerous market regions in the United States and Canada. In conjunction with this announcement, ETP is announcing it has signed long-term agreements with multiple shippers and is launching a binding Open Season. The natural gas pipeline is currently sized to transport 2.2 billion cubic feet per day, however, depending on additional shipper commitments, the project likely will be expanded to transport up to 3.25 billion cubic feet per day. ETP has secured capacity commitments from producers who hold significant acreage positions in the Utica and Marcellus Shales and has been in negotiations with numerous other shippers who have expressed a desire to contract for capacity in the Open Season. The three largest shippers on the project are American Energy – Utica, LLC, Antero Resources Corporation (AR) and Range Resources Corporation (RRC). American Energy and Antero Resources both have options to purchase non-operating equity interests in the project. The first approximately 400 miles of the project will enable the flow of gas from processing plants and interconnections in Pennsylvania, West Virginia and Ohio to points of interconnection with Energy Transfer’s existing Panhandle Eastern Pipe Line and another Midwest pipeline near Defiance, Ohio. Shippers in the ET Rover project also will be able to transport to Trunkline Zone 1A, delivery points via the interconnection with PEPL, to access existing and new industrial markets and potential liquefaction export markets in the Gulf Coast. Additionally, ETP expects to construct an approximately 195-mile segment from the Defiance area through Michigan and ultimately to the Union Gas Dawn Hub near Sarnia, Canada providing producers with access to diverse markets and end-users in Michigan and Canada with access to Marcellus and Utica supplies. Energy Transfer has received sufficient commitments and Board Approval to build the pipeline to Defiance and anticipates receiving sufficient volumes to justify building to Dawn.
News For ETP;ETE;AR;RRC From The Last 14 Days
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January 21, 2015
10:47 EDTETPOptions with decreasing implied volatility
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10:01 EDTETPOn the Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Ashford Hospitality (AHT) upgraded to Outperform from Neutral at Credit Suisse... BAE Systems (BAESY) upgraded to Buy from Neutral at Goldman... Bazaarvoice (BV) upgraded to Outperform from Market Perform at Cowen... Becton Dickinson (BDX) upgraded to Outperform at Cowen... CVS Health (CVS) upgraded to Buy from Neutral at Goldman... Camden Property (CPT) upgraded to Outperform from Neutral at Credit Suisse... ConocoPhillips (COP) upgraded to Buy from Neutral at BofA/Merrill... Cornerstone OnDemand (CSOD) upgraded to Buy from Neutral at DA Davidson... Cree (CREE) upgraded to Overweight at Stephens... DDR Corp. (DDR) upgraded to Outperform from Neutral at Credit Suisse... EastGroup Properties (EGP) upgraded to Outperform from Neutral at Credit Suisse... Energy Transfer Partners (ETP) upgraded to Outperform from Neutral at Credit Suisse... Esperion (ESPR) upgraded at BofA/Merrill... Exxon Mobil (XOM) upgraded to Outperform from Market Perform at Wells Fargo... FXCM (FXCM) upgraded to Market Perform from Underperform at Keefe Bruyette... Fair Isaac (FICO) upgraded to Overweight from Equal Weight at Barclays... Golar LNG (GLNG) upgraded to Buy from Hold at Nordea... Gran Tierra (GTE) upgraded to Buy at Canaccord... Host Hotels (HST) upgraded to Outperform from Neutral at Credit Suisse... J.M. Smucker (SJM) upgraded to Overweight from Neutral at JPMorgan... Kilroy Realty (KRC) upgraded to Neutral from Underperform at Credit Suisse... Level 3 (LVLT) upgraded to Outperform from Market Perform at Wells Fargo... Lowe's (LOW) upgraded to Overweight from Equal Weight at Morgan Stanley... Michael Kors (KORS) upgraded to Outperform at Cowen... Netflix (NFLX) upgraded at Nomura... Regions Financial (RF) upgraded to Buy from Neutral at Guggenheim... Ruckus Wireless (RKUS) upgraded to Outperform from Market Perform at Northland... Santander Mexico (BSMX) upgraded to Neutral from Underperform at Credit Suisse... Scorpio Tankers (STNG) upgraded to Buy at Canaccord... Sprouts Farmers Markets (SFM) upgraded to Buy from Neutral at BofA/Merrill... Strategic Hotels (BEE) upgraded to Outperform from Neutral at Credit Suisse... The Medicines Co. (MDCO) upgraded to Outperform from Market Perform at Leerink... Whole Foods (WFM) upgraded at Sterne Agee... Wolseley (WOSYY) upgraded to Neutral from Underperform at Exane BNP Paribas.
07:13 EDTETPEnergy Transfer Partners upgraded to Outperform from Neutral at Credit Suisse
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January 20, 2015
16:30 EDTARAntero Midstream to expand Marcellus and Utica Shale gathering systems in 2015
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16:26 EDTARAntero Resources CEO comments on FY15 Capital Budget
Commenting on the 2015 capital budget and guidance, Paul Rady, Antero's Chairman and CEO, said, "Despite the challenging commodity price environment, Antero is well positioned to continue executing on our development program and achieve peer-leading growth and margins. Our ability to generate production growth of 40%, while materially reducing the 2015 drilling and completion budget, is a testament to the momentum established and efficiencies attained from having the largest development program in Appalachia." Rady further commented, "Our production and capital budget guidance assumes the deferral of completions in the Marcellus during the second and third quarters of 2015 in order to limit natural gas volumes sold into unfavorable pricing markets including TETCO and Dominion South. Based on our projections for 2015, we will not have access to favorable markets for Marcellus gas in excess of the volumes included in our guidance until the previously disclosed regional pipeline project is placed into service, which is currently projected to be in the fourth quarter of 2015. Consequently, we have adjusted our Marcellus plan so that we can sell the vast majority of our gas into more favorable markets. We will continue to monitor commodity prices throughout the year and may revise the capital budget lower if conditions warrant."
16:13 EDTARAntero Resources sees FY15 CapEx $1.8B
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08:43 EDTRRCRange Resources downgraded to Neutral from Buy at SunTrust
SunTrust downgraded Range Resources to Neutral to reflect a lower commodity price deck forecast and impact from lower spending. Price target lowered to $55 from $85.
07:30 EDTRRCRange Resources upgraded to Buy from Accumulate at KLR Group
Price target $73.
January 16, 2015
13:29 EDTRRCRange Resources sees 2014 total production growth approximately 24%
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13:27 EDTRRCRange Resources lowers FY15 CapEx to $870M from $1.3B
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10:15 EDTETEOptions with decreasing implied volatility: BBY ETE CBST
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07:29 EDTETPSunoco named best idea for 2015 at Stephens
Stephens made Sunoco (SUN) its 2015 best idea, citing solid visibility into sustained long-term distribution growth and the firm's estimate that the company has over $600M of EBITDA that can be dropped down from Energy Transfer Partners (ETP) over the next 18 to 30 months. Stephens has an Overweight rating and $60 price target on Sunoco.
January 15, 2015
16:24 EDTRRCRange Resources announces ethane sales contract
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16:24 EDTRRCRange Resources announces early commissioning of Mariner East pipeline
Range confirmed the Mariner East propane pipeline was commissioned earlier than expected during the last few weeks of December. While full capacity operation has not commenced, the propane line fill has been completed and propane is being delivered to storage caverns for further sale. Range has delivered its share of approximately 133,000 barrels of propane line fill into the pipeline while the operator completes work at the Marcus Hook Industrial Complex. Range expects to expand its sales in the favorable local markets as well as potentially the international markets while the refrigeration and other facilities are being completed at Marcus Hook. Utilization of the Mariner East propane pipeline is expected to lower Range's cost of propane deliveries by approximately 20c per gallon when compared to 2014. This transportation cost reduction is expected to add significant value to the net realized price of propane in 2015 which could approach an additional $50Min cash flow on an annualized basis. Commissioning of the pipeline was originally expected to occur during Q1. Early commissioning reduced Range's propane production for the fourth quarter of 2014 because propane used as line fill is accounted for as inventory, not as sales. When the propane is taken out of inventory and sold, production is then recognized. Once the Mariner East pipeline is converted to transport both propane and ethane later in 2015, the company expects that a portion of the propane line fill inventory could be available for sale with production recognized at that time.
16:20 EDTRRCRange Resources reports proved reserves as of Dec. 31 increased 26% to 10.3 Tcfe
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15:18 EDTETEPioneer pipeline unit draws interest from multiple bidders, Bloomberg says
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15:06 EDTETPPioneer pipeline unit said to draw interest, Bloomberg says
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January 14, 2015
16:12 EDTARAntero Resources reports Q4 average net daily production 1,265 MMcfe/d
Reports Q4 average net daily liquids production 30,400 Bbl/d. Increased hedge portfolio to 1.8 Tcfe of future natural gas equivalent production at an average index price of $4.43 per MMBtu. Paul Rady, chairman of the board and CEO said, "Our net daily production for the quarter averaged 1,265 MMcfe/d including over 30,400 of liquids, or 14% of total volumes, establishing a new company record. For the year, we averaged 1,007 MMcfe/d, which exceeded the midpoint of our 2014 annual production guidance. We expect to continue our production growth momentum into 2015 and have assembled a strong hedge position to maximize price realizations. We have increased our hedges to cover approximately 90% of expected 2015 natural gas equivalent production at an average index price of $4.42/MMbtu. During this past quarter, we reacted to the declining commodity price environment and moved to protect our 2015 and 2016 cash flows by adding to our hedge book, which had a mark-to-market value of $1.6B at year-end 2014. As part of this strategy, we put on our first ever propane hedges, at relatively attractive pricing, in order to eliminate virtually all of our 2015 propane price exposure."
10:00 EDTRRCOn The Fly: Analyst Upgrade Summary
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06:16 EDTRRCRange Resources upgraded to Overweight from Equal Weight at Barclays
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