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News Breaks
May 13, 2014
Bermuda Energy Conference to be held in Southampton, Bermuda on May 13-16.
News For GDP;NFX;RRC;AEP;KOG;PXD;TSO From The Last 14 Days
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October 8, 2015
15:14 EDTPXDPioneer Natural upgraded to Outperform from Peer Perform at Wolfe Research
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October 6, 2015
08:02 EDTAEPAmerican Electric management to meet with Deutsche Bank
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October 5, 2015
19:56 EDTPXDPioneer Natural management to meet with SunTrust
Group dinner to be held in Dallas on October 7 hosted by SunTrust.
07:11 EDTAEPAmerican Electric management to meet with Deutsche Bank
Meeting to be held in Boston on October 5 hosted by Deutsche Bank.
October 1, 2015
17:21 EDTAEPAmerican Commercial Lines to acquire AEP River Operations
American Commercial Lines, ACL, announced it has signed a definitive agreement to acquire AEP River Operations from American Electric Power. AEP River Operations is a commercial inland barge company delivering approximately 45M tons of products annually. The company is based in Chesterfield, Missouri, with operations in Paducah, Kentucky; and Convent, Algiers and Belle Chasse, Louisiana. ACL, a portfolio company of Platinum Equity, is based in Jeffersonville, Indiana, and is one of the most diversified marine transportation service companies in the United States. ACL President and Chief Executive Officer Mark Knoy ran AEP River Operations for a decade before joining ACL in 2011. He said the proposed acquisition is a strong strategic fit.The transaction is expected to close in the fourth quarter of 2015, subject to regulatory approval and certain closing conditions.
16:55 EDTAEPAmerican Electric to sell AEP River operations to ACL for $550M
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05:12 EDTTSOStocks with implied volatility movement; SNDK TSO
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September 30, 2015
07:07 EDTRRCDeutsche Bank to hold a conference
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September 29, 2015
09:26 EDTAEPWolfe Research to hold a conference
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September 28, 2015
13:01 EDTPXDAnalyst 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.
07:25 EDTGDPJohnson Rice to hold a conference
2015 Johnson Rice Energy Conference is being held in New Orleans, Louisiana on September 28-30.

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