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Stock Market & Financial Investment News

News Breaks
June 6, 2014
09:06 EDTMMP, OXYBridgeTex Pipeline ready to accept applications from spot shippers
BridgeTex Pipeline Company, a company owned by Magellan Midstream Partners (MMP) and Occidental Petroleum (OXY), plans to begin the commissioning of the BridgeTex Pipeline in Q3, it announced. BridgeTex intends to begin limited commercial operations on the pipeline as part of the initial commissioning process. The company has begun to fill storage tankage at the origin of the system in Colorado City, Texas, and operations to fill the pipeline will begin in the near future.
News For MMP;OXY From The Last 14 Days
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July 30, 2015
10:11 EDTOXYOccidental Petroleum expects to exit 2015 with spending rate of $1B-$1.2B
If prices remain at current levels, 2016 capital will be less than both 2015 full year and Q4 run rate. Expects that going forward, operating cash flow will cover CapEx and dividend payments, assuming $60 per barrel oil price realizations.
10:10 EDTOXYOccidental Petroleum expects production to grow at 30% annual rate of 30%
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10:09 EDTOXYOccidental Petroleum reports $450M of captured cost savings year-to-date
The capital savings was re-deployed into additional activity in Permian Basin. Comments taken from slides for Q2 earnings conference call.
07:19 EDTOXYOccidental Petroleum reports Q2 core EPS 21c, consensus 21c
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July 23, 2015
09:27 EDTMMPMagellan Midstream increases quarterly cash distribution 3% to 74c
Magellan Midstream has increased the partnership's quarterly cash distribution to 74c per unit, a 3% increase over Q1 distribution of 71.75c. The new distribution, which equates to $2.96 per unit on an annualized basis, will be paid Aug. 14 to unitholders of record at the close of business on Aug. 7.

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