New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 14, 2014
07:04 EDTBHP, EXLP, CHK, EXHExterran Partners to acquire natural gas compression assets from MidCon
Exterran Partners, L.P. (EXLP) and Exterran Holdings, Inc. (EXH) announced that Exterran Partners has entered into an agreement to acquire natural gas compression assets from MidCon Compression, L.L.C., a subsidiary of Chesapeake Energy Corporation (CHK), for approximately $135M. The assets to be acquired include 162 compression units, with a total horsepower of approximately 110,000. The majority of the units currently are being used to provide compression services to BHP Billiton Petroleum (BHP) in Arkansas’ Fayetteville Shale. In connection with the acquisition, the contract operations services agreement with BHP Billiton Petroleum will be assigned to Exterran Partners effective as of the closing. “We expect the transaction to be immediately accretive to distributable cash flow per limited partner unit,” said David Miller, Senior Vice President and CFO of Exterran Partners’ managing general partner. “As a result of this acquisition, we expect to recommend to the Board of Exterran Partners’ managing general partner that Exterran Partners increase the distribution to limited partner unit holders by an incremental $0.02 per limited partner unit on an annualized basis, or an incremental $0.005 per limited partner unit on a quarterly basis, beginning in the quarter that the transaction closes.” Exterran Partners and Exterran Holdings do not expect that the Omnibus Agreement between Exterran Partners and Exterran Holdings will be amended to adjust the caps on operating costs or selling, general and administrative costs as a result of this transaction. The acquisition, which is expected to be financed using credit available under Exterran Partners’ revolving credit facility, is subject to closing conditions and is expected to close in the third quarter 2014.
News For EXLP;EXH;CHK;BHP From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
May 1, 2015
13:49 EDTBHPWestmoreland agrees in principle to buy San Juan Mine, enter coal supply deal
Westmoreland Coal (WLB) announced that it has agreed in principle to purchase the San Juan Mine in Farmington, New Mexico from BHP Billiton (BHP) and enter into a new long-term coal supply agreement with the owners of the San Juan Generating Station. The contemplated new coal supply agreement states that Westmoreland will take over operations at the beginning of 2016. The new coal supply agreement expires in 2022, but SJGS owners can extend the agreement beyond 2022, to coincide with the SJGS owners’ plans for operation of the plant after 2022. The new coal supply agreement and the agreement in principal for Westmoreland to purchase San Juan Mine will not be final or binding until all parties have secured internal approvals.
11:35 EDTCHKStocks with call strike movement; JCP CHK
Subscribe for More Information
11:00 EDTBHPSan Juan would be ideal dropdown candidate for Westmoreland, says Brean Capital
After PNM Resources (PNM) announced Westmoreland Coal (WLB) will take over coal operations servicing the San Juan Generating Station in New Mexico from BHP Billiton (BHP) in early 2016, Brean Capital said it thinks these assets would be an "ideal" candidate for further dropdown to Westmoreland LP (WMLP), which the firm would expect to be an accretive transaction for Westmoreland. Brean, which views Westmoreland's track record of executing attractive acquisitions as "solid" in recent year, reiterates its Buy rating and $46 price target on the shares.
10:50 EDTCHKOptions with increasing implied volatility
Options with increasing implied volatility: ZIOP CLNE CRM DECK CHK WIN ANF NRF GES LOW
09:02 EDTBHPPNM Resources to file two agreements with New Mexico regulators
PNM Resources' (PNM) New Mexico electric utility, Public Service Co. of New Mexico, will file with the New Mexico Public Regulation Commission substantially final coal supply and participant restructuring agreements for San Juan Generating Station. The agreements will be filed as part of PNM’s ongoing regulatory proceedings seeking NMPRC approval of the SJGS Plan settlement agreement filed in October 2014. Approval of the settlement agreement is an important step in implementing a revised state plan that benefits customers and complies with federal visibility regulations under the Clean Air Act. The new coal supply agreement states that the intended new coal mine owner, Westmoreland Coal Company (WLB), will take over operations at the beginning of 2016. The current agreement with the existing coal mine owner, BHP Billiton (BHP), would have terminated at the end of 2017. The earlier transaction date allows PNM customers to more quickly benefit from fuel savings of approximately 15-20 percent in 2016 and 2017. The savings will be passed along to customers through the company’s fuel clause. The new coal supply agreement expires in 2022, but SJGS owners can extend the agreement beyond 2022, to coincide with the SJGS owners’ plans for operation of the plant after 2022. The new coal supply agreement and the agreement in principle for Westmoreland to purchase San Juan Mine will not be final or binding until all parties have secured internal approvals. PNM and the other owners of the plant will now work to secure all final approvals from their respective governing bodies. A SJGS participant restructuring agreement will also be filed today with the NMPRC, identifying the ongoing ownership of the plant effective January 1, 2018. The agreement identifies PNMR Development and Management Company, an unregulated subsidiary of PNM Resources, as the owner of 65 MWs of SJGS Unit 4. SJGS is currently jointly owned by PNM and eight other entities. This agreement allows for the exit of certain participants while, combined with the shutdown of SJGS Units 2 and 3 under the revised state plan, defines the terms of ownership of the remaining capacity among the remaining participants.
05:58 EDTBHPBHP Billiton, Barbadoes sign exploration licenses
The Government of Barbados and BHP Billiton yesterday signed exploration licenses for two offshore blocks, Carlisle Bay and Bimshire. These blocks are approximately 40 kilometers southeast of the island nation, total about 5,000 square kilometers and are located in waters ranging from approximately 1,200 to 2,000 meters in depth. Upon approval by the Government of an environmental impact assessment and environmental plan, BHP Billiton will commence the first three-year phase, which includes conducting a 2D seismic survey on the two exploration blocks. With favorable results, BHP Billiton may enter an optional second phase of three years to perform a 3D seismic survey, followed by an optional third phase of two years to drill exploration wells.
05:52 EDTCHKStocks with implied volatility movement; CHK GOOG
Subscribe for More Information
April 27, 2015
18:57 EDTEXLPExterran Partners increases cash distribution 0.5c to 56.25c
Subscribe for More Information
April 22, 2015
10:25 EDTCHKNomura U.S. energy analysts hold an analyst/industry conference call
Subscribe for More Information
07:13 EDTCHKChesapeake initiated with a Reduce at Nomura
Subscribe for More Information
April 20, 2015
10:43 EDTCHKStocks with call strike movement; AAL CHK
Subscribe for More Information
07:06 EDTEXH, EXLPExterran Partners acquires compression assets from Exterran Holdings for $102.3M
Exterran Holdings, Inc. (EXH) and Exterran Partners, L.P. (EXLP) announced that Exterran Partners has acquired assets from Exterran Holdings for consideration valued at $102.3M, including customer contracts serving 60 customers together with 244 compressor units used to provide compression services under those contracts. Those compressor units represent approximately 151,000 horsepower of compression and approximately 4 percent of the combined U.S. contract operations business of Exterran Holdings and Exterran Partners. In addition, the acquisition includes 179 compressor units comprising approximately 66,000 horsepower previously leased from Exterran Holdings to Exterran Partners. The consideration paid to Exterran Holdings’ affiliates consisted entirely of Exterran Partners’ equity, composed of 3,963,138 common units and 80,341 general partner units. The transaction was approved by the conflicts committee of the board of directors of Exterran Partners’ managing general partner. The conflicts committee, which is composed entirely of independent directors, retained independent legal and financial advisors to assist it in evaluating the transaction.

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