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Stock Market & Financial Investment News

News Breaks
June 24, 2014
10:11 EDTAPC, UPS, IHSJoint Economic Committee to hold a hearing
The Committee holds a hearing entitled, "Economic Impact of Increased Natural Gas Production" with Vice Chairman Yergin of IHS, Vice President Bruce of UPS and Executive Vice President Meloy of Anadarko on June 24 at 10 am. Webcast Link
News For IHS;UPS;APC From The Last 14 Days
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March 3, 2015
16:03 EDTAPCWestern Gas Partners acquires Anadarko's 50% inerest in joint venture
Western Gas Partners (WES) announced that it has acquired Anadarko's (APC) 50% interest in the Delaware Basin JV gathering system. The Partnership paid no consideration at closing, but agreed to make a future payment on March 31, 2020 equal to eight times the average of the asset's 2018 and 2019 earnings before interest, taxes, depreciation and amortization, less the capital expenditures incurred by WES from the closing date through February 29, 2020. Based on its current forecast of the asset's performance and capital needs, the Partnership currently estimates the future payment will be $283M. "This immediately accretive acquisition is another step towards the consolidation of our significant Delaware Basin position," said CEO Don Sinclair. "We will benefit from the asset's strategic position, the world-class resources in the Delaware Basin, and the addition of a 100% fee-based asset into our portfolio. Furthermore, the flexible financing structure assists us in maintaining our growth targets in a challenging environment." In conjunction with the acquisition, Anadarko has amended its existing gathering agreement with DBJV to extend the term to December 31, 2024. Gathering rates are determined using a cost-of-service methodology under which DBJV earns a targeted rate of return of 18% over the life of the agreement. The Partnership estimates that the net present value of the purchase price payment is $176M and that the asset will generate $15 to $25M of EBITDA in 2015. The terms of the acquisition were approved by the board of directors of the Partnership's general partner and by the board's special committee, which is comprised entirely of independent directors.
10:44 EDTAPCAnadarko reduces initial FY15 capital expectations by 33% y/y
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08:53 EDTAPCAnadarko sees FY15 oil sales volume up 5%
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March 2, 2015
15:39 EDTAPCAnadarko seeks buyer for East Texas assets, SparkSpread says
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February 26, 2015
09:25 EDTAPCAnadarko to host conference call
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February 24, 2015
08:20 EDTAPCEnterprise, Anadarko, DCP, MarkWest form joint venture for Panola
Enterprise Products Partners (EPD), Anadarko Petroleum (APC), DCP Midstream Partners (DPM) and MarkWest Energy Partners (MWE) announced the formation of a joint venture under which Enterprise will assign 45% ownership interest in its wholly owned Panola Pipeline Company. The interest will be evenly divided among Anadarko’s affiliate, WGR Asset Holding Company, DCP Midstream Partners and MarkWest. Enterprise will continue to serve as operator of the Panola Pipeline and own the remaining 55% interest. The Panola Pipeline, which transports natural gas liquids, originates in Carthage, Texas and extends 181 miles to Mont Belvieu, Texas. Incremental capacity is expected to be available in 1Q16. This corrects the symbol for Enterprise Products Partners.
February 23, 2015
07:46 EDTIHSJPMorgan to hold a conference
Global High Yield & Leveraged Finance Conference is being held in Miami Beach, FL on February 23-25 with webcasted company presentations to begin on February 23 at 8:20 am; not all company presentations may be webcasted. Webcast Link
February 18, 2015
12:28 EDTUPSUPS denies NY AG's allegations, Times Union of Albany reports
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10:52 EDTUPSUPS accused by NY AG of illegally shipping untaxed cigarettes
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