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December 20, 2013
10:02 EDTKMP, NGLS, MWEKinder Morgan Energy, Targa Resources Partners sign LOI to form JV
Kinder Morgan Energy Partners, L.P. (KMP) and Targa Resources Partners LP (NGLS) announced they have signed a letter of intent to form a joint venture to construct new natural gas liquids fractionation facilities at Mont Belvieu, Texas, to provide services for producers in the Utica and Marcellus Shale resource plays in Ohio, West Virginia and Pennsylvania. In order to allow producers and shippers sufficient time to assess their Gulf Coast fractionation and pipeline needs, a binding open season currently under way for the Utica Marcellus Texas Pipeline, a proposed joint venture between MarkWest Utica EMG, L.L.C. (MWE) and KMP, will be extended until Feb. 28, 2014. The UMTP will involve the abandonment and conversion, subject to Federal Energy Regulatory Commission approval, of over 1,000 miles of KMPís existing Tennessee Gas Pipeline system, currently in natural gas service, from Mercer, Pa., to Natchitoches, La., and building approximately 200 miles of new pipeline from Natchitoches to Mont Belvieu for fractionation. The facilities will be located adjacent to Targaís existing fractionation facilities at Mont Belvieu and will provide fractionation services for customers of UMTP of up to approximately 150,000 barrels per day, and potentially serve up to 400,000 bpd of maximum pipeline capacity over time.
News For KMP;NGLS;MWE From The Last 14 Days
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April 17, 2014
09:59 EDTNGLSOn The Fly: Analyst Downgrade Summary
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05:37 EDTNGLSTarga Resources Partners downgraded to Hold from Buy at Jefferies
Jefferies downgraded Targa Resources Partners to Hold with a $62 price target citing valuation.
April 16, 2014
18:26 EDTKMPKinder Morgan Energy reports Q1 EPS 67c, consensus 73c
Reports Q1 revenue $3.65B, consensus $3.41B.
16:13 EDTKMPKinder Morgan Energy raises distribution to $1.38 from $1.36
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15:17 EDTKMPNotable companies reporting after market close
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April 15, 2014
17:52 EDTNGLSTarga Resources Partners boosts dividend 9% to 76.25c per unit
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April 14, 2014
08:40 EDTKMPKinder Morgan's TGP awards 100% of capacity for Broad Run to Antero Resources
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April 11, 2014
07:18 EDTKMPHuntington Ingalls conducts study with Kinder Morgan
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