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Stock Market & Financial Investment News

News Breaks
June 26, 2014
07:36 EDTETE, RRC, ETP, AREnergy 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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November 18, 2014
11:04 EDTETPEnergy Transfer Partners to host special shareholder meeting
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08:46 EDTETE, ETPETE to transfer 30.8M ETP common units in $3.75B deal
Energy Transfer Partners (ETP) and Energy Transfer Equity (ETE) announced that the management teams of the two partnerships have reached an agreement with respect to a transaction valued at approximately $3.75B in which ETE would transfer 30.8M ETP common units, ETE’s 45% interest in the Bakken pipeline project, and a cash amount to be determined in exchange for newly issued Class H units of ETP that will generally entitle ETE to receive 40.0% of the cash distributions and other economic attributes of the general partner interest and incentive distribution rights of Sunoco Logistics Partners (SXL). In addition, ETE and ETP anticipate that they will negotiate a reduction in the incentive distribution right subsidies that ETE previously agreed to provide to ETP, and that such reductions would occur in 2015 and 2016. When combined with the 50.16M Class H units acquired by ETE in October 2013, upon consummation of the Transaction, ETE would own Class H units that will generally entitle ETE to receive approximately 90% of the cash distributions and other economic attributes of the general partner interest and incentive distribution rights of SXL. Upon redemption of the 30.8M ETP common units, ETP’s outstanding common units will be reduced to approximately 322M common units. ETP expects that the Transaction will be neutral to distributable cash flow per ETP common unit in 2015 and accretive to distributable cash flow per ETP common unit in 2016 and thereafter. ETE expects that the transaction will be slightly dilutive to distributable cash flow per ETE common unit in 2015 and accretive to distributable cash flow per ETE common unit in 2016 and thereafter. The transaction is expected to be credit neutral to both ETE and ETP. ETE and ETP anticipate that the transaction agreements will be negotiated and executed prior to the end of 2014 and that the transaction would close in Q1 of 2015.
November 17, 2014
08:05 EDTETPEnergy Transfer Partners, Regency Energy Partners to construct NGL pipeline
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November 12, 2014
12:30 EDTRRCRange Resources management to meet with Stephens
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