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Stock Market & Financial Investment News

News Breaks
December 13, 2012
10:03 EDTNS, COPNuStar Energy to expand Eagle Ford crude oil pipeline system
NuStar Energy (NS) announced that it has entered into a long-term Pipeline and Terminal Services Agreement with ConocoPhillips (COP) that will allow expansion of NuStar's South Texas Crude Oil Pipeline System. The agreement will include a pipeline expansion project for NuStar that will allow NuStar to serve ConocoPhillips' growing production in the Eagle Ford Shale play, and new pipeline and terminal facilities will provide Eagle Ford producers with a cost-effective transportation alternative for their growing production. Anastasio stated that NuStar expects to invest approximately $100M-$120M for these expansions, which are backed by a 10-year throughput commitment. According to Anastasio, the projects are expected to generate approximately $15M in incremental, annual EBITDA once fully implemented. He noted that while the expansions would generate some EBITDA in 2013, the vast majority will be earned in 2014 and beyond.
News For NS;COP From The Last 14 Days
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September 17, 2014
05:38 EDTCOPWestern Refining to acquire Wingate Plant, assets from ConocoPhillips
Western Refining (WNR) announced that it has entered into an agreement for the acquisition of the 25,000 bpd idled Wingate Fractionation Plant in Gallup, New Mexico from ConocoPhillips (COP). The Wingate facility includes rail loading and offloading capabilities and storage facilities in addition to natural gas liquids fractionation capability. The transaction is expected to close in early October. Terms of the transaction were not disclosed. Jeff Stevens, Western's president and CEO said, "The strategic location of the Wingate facility is a great addition to the logistical assets of Western. It is conveniently located near our Gallup Refinery. This transaction will afford Western greater flexibility in the Four Corners region as it will provide approximately 125,000 barrels of pipeline-connected seasonal NGL storage for our Gallup Refinery; crude oil loading and transportation capabilities, both east and west, through the rail loading terminal; and pipeline connectivity to Western Refining Logistics (WNRL) assets."
September 16, 2014
10:47 EDTCOPBadri sees OPEC lowering oil output target at next meeting, Reuters says
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September 15, 2014
20:02 EDTCOPConocoPhillips auctioning 24% stake in the Clair oilfield, FT reports
ConocoPhillips (COP) has hired banks to sell its 24% stake in UK's largest oilfield, The Financial Times reports, citing people familiar with the matter. The 24% stake could be valued between $2B-$3B, the people added. The Clair oilfield sits in Scottish territorial waters, and Conoco's interest in exiting the project is a sign of the challenges facing the North Sea oil industry, The Financial Times added. BP (BP) operates the Clair oilfield and owns a 28.6% stake, Royal Dutch Shell (RDS.A) controls a 28.6% stake, and Chevron (CVX) controls a 19% stake. Reference Link
September 10, 2014
08:22 EDTCOPBofA/Merrill oil and gas analysts hold an analyst/industry conference call
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September 9, 2014
10:10 EDTCOPOn the Fly: Analyst Upgrade Summary
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07:40 EDTCOPConocoPhillips upgraded to Neutral from Underperform at BofA/Merrill
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September 5, 2014
12:15 EDTNSNuStar Energy management to meet with JPMorgan
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