New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
May 29, 2014
13:38 EDTMWEMarkWest Energy says no reported injuries from incident at Houston complex
MarkWest Energy Partners reported an incident at its Houston processing and fractionation complex in Houston, Pennsylvania at approximately 6:00 p.m. EDT yesterday. The Houston complex consists of processing plants I, II and III totaling 355M cubic feet per day of capacity and 98,000 barrels per day of ethane and heavier fractionation capacity with associated storage facilities and other related infrastructure. There were no reported injuries and as a precaution, the area was safely and temporarily evacuated. Although MarkWest has not completed a full assessment of all plant equipment, an initial visual assessment of damage indicates that the impact was limited to one component of the plant III facility. The entire complex remains shut down until the assessment is completed. At this time, it appears that no other equipment at the facility was affected. Additionally, there are no apparent signs or evidence of a fire. The complexís safety control system worked as designed and the two flares at the facility remained in operation throughout the course of this event. MarkWest is working closely with its producer customers and is currently routing some gas through its rich-gas header system to the Majorsville complex in Marshall County, West Virginia. The Majorsville complex currently consists of 870 MMcf/d of processing capacity. MarkWest would like to thank the local first responders and Washington County emergency management personnel who acted quickly and decisively to ensure the publicís safety. MarkWest notified the appropriate government officials and agencies. The area will remain secure until the review is completed.
News For MWE From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
November 20, 2015
09:28 EDTMWEGlass Lewis, Egan-Jones recommend MarkWest unitholders approve MPLX deal
MarkWest Energy Partners (MWE) announced that Glass Lewis and Egan-Jones Proxy Services, two independent proxy advisory firms, have issued reports recommending that MarkWest unitholders vote "FOR" the combination of MarkWest and MPLX (MPLX). The recommendations of Glass Lewis and Egan-Jones follow Institutional Shareholder Services Inc.'s recent report that also recommended that MarkWest unitholders vote "FOR" the MarkWest-MPLX combination.
09:01 EDTMWEMarkWest Hydrocarbon co-founders intend to vote against MarkWest & MPLX merger
Subscribe for More Information
November 19, 2015
09:03 EDTMWEMarkWest former CEO John Fox responds to ISS report on proposed merger
Subscribe for More Information
November 18, 2015
09:29 EDTMWEMarkWest Energy says ISS recommends investors vote for combination with MPLX
MarkWest Energy Partners (MWE) announced that Institutional Shareholder Services, an independent proxy advisory firm, has issued a report recommending that MarkWest unitholders vote FOR the combination of MPLX (MPLX) and MarkWest. In recommending that unitholders vote in favor of the MarkWest-MPLX combination, ISS's report, issued on November 17, 2015 stated: "Given the premium to the unaffected price at announcement, the subsequent cash increases in the merger consideration, and the strategic advantages of the combination -- including both the access to relatively more certain capital sources at a lower cost of capital and the ability to de-risk certain growth opportunities with Marathon as its parent -- a vote FOR the merger is warranted."
November 17, 2015
15:36 EDTMWETortoise Capital Advisors reports 6.38% stake in MarkWest Energy
Subscribe for More Information
08:07 EDTMWEJohn Fox to hold a teleconference
Subscribe for More Information
06:32 EDTMWEMPLX and MarkWest combination receives further cash consideration from Marathon
MPLX (MPLX) and MarkWest Energy (MWE) announced that, in connection with the anticipated combination of MPLX and MarkWest, Marathon Petroleum (MPC) has agreed to further increase the amount of the one-time cash consideration payable to MarkWest common unitholders to $6.20 per unit, up from the cash consideration previously announced on Nov. 10, 2015, of approximately $5.21 per unit. This cash consideration represents a significant enhancement to the initial July 13, 2015, offer which was approximately $3.37 per unit. Under the revised terms of the merger agreement announced today, which represents the best and final offer, MarkWest common unitholders will receive approximately $1.28 billion in total cash consideration and 1.09 MPLX common units per MarkWest common unit, for a total consideration of approximately $51.74 per MarkWest common unit, based on the closing price of MPLX's common units on Nov. 16, 2015. Three of MarkWest's largest unitholders, Kayne Anderson Capital Advisors, L.P., Tortoise Capital Advisors, L.L.C., and, as previously announced, The Energy & Minerals Group, which cumulatively represent more than 15 percent of MarkWest's outstanding units entitled to vote, have all entered into voting agreements to vote in favor of the transaction. The merger is also recommended by each of the boards of MPC, MPLX and MarkWest, and the executive management of both partnerships strongly support the transaction and its revised terms. The combination will create one of the largest master limited partnerships, which is expected to generate a mid-20 percent compound annual distribution growth rate through 2019. The transaction is subject to approval by MarkWest unitholders and other customary closing conditions and, subject to the satisfaction of those conditions, is expected to close in December 2015. The date of the special meeting of MarkWest common unitholders is Dec. 1, 2015. MarkWest unitholders of record as of Oct. 5, 2015, will be entitled to vote on approval of the merger and the associated proposals.
November 12, 2015
09:34 EDTMWEFormer MarkWest Energy CEO says will vote against MPLX merger
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use