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News Breaks
November 13, 2012
07:45 EDTCOG, WPZ, PNYPiedmont Natural Gas announces investment in Constitution Pipeline project
Piedmont Natural Gas (PNY) announced its equity investment in Constitution Pipeline Company, a natural gas pipeline project slated to transport natural gas supplies from the prolific Marcellus supply region in northern Pennsylvania to major northeastern markets. The project is scheduled to be in service by March 2015. Piedmont Natural Gas, through its wholly-owned subsidiary Piedmont Constitution Pipeline Company, joins Williams Partners (WPZ) and Cabot Oil and Gas (COG) as a 24% equity participant in the joint venture, and will invest an estimated $180M in the new project.
News For PNY;WPZ;COG From The Last 14 Days
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October 5, 2015
06:37 EDTWPZColumbia Pipeline Group announces Williams Partners to join Pennant JV
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September 29, 2015
12:26 EDTCOGCabot Oil & Gas backs FY15 production growth view 10%-18%
Information from company slides presentation.
September 28, 2015
17:02 EDTPNYPiedmont Natural Gas, ESG to implement Utility Energy Services Contract
Piedmont Natural Gas (PNY) and Energy Systems Group, a leading energy services provider and wholly owned subsidiary of Vectren (VVC), are implementing a Utility Energy Services Contract by the Naval Facilities Engineering Command Mid-Atlantic, signed in March, for a comprehensive steam decentralization project at Marine Corps Base Camp Lejeune. The project is beneficial for all parties, allowing Lejeune the opportunity to invest and upgrade aging infrastructure to realize efficiency and cost-savings at no up-front cost and will yield more than $37M in projected savings over the 15-year term. Known as the home of "Expeditionary Forces in Readiness," Camp Lejeune is the home base for the II Marine Expeditionary Force, 2nd Marine Division, 2nd Marine Logistics Group, and other combat units and support commands. The project marks Piedmont's first and ESG's largest UESC, a contracting vehicle that offers federal agencies a cost-effective means to implement energy efficiency, renewable energy, and water efficiency projects. Using the UESC program will allow Camp Lejeune to complete its steam decentralization program by April 2017, and shut down three central steam plants -- two of which currently burn coal. The project scope includes design, construction, and commissioning of comprehensive energy savings upgrades for 37 buildings at three major locations at Camp Lejeune: Hadnot Point/French Creek, Marine Corps Air Station New River, and Courthouse Bay. Infrastructure improvements will consist of new high-efficiency boilers, hot water heating systems, heating, ventilation, and air-conditioning upgrades and water treatment equipment, integrated into a major controls expansion. Site enhancements will also include construction of new boiler buildings for improved reliability of decentralized systems.
10:01 EDTWPZETE sees steps towards investment grade rating in 2017
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09:44 EDTWPZEnergy Transfer Equity sees cutting costs for Chesapeake, raising cash flow
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09:40 EDTWPZEnergy Transfer Equity expects $2B in synergies by 2020
09:30 EDTWPZEnergy Transfer Equity expects to form LNG affiliate in 2016
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07:10 EDTWPZWilliams Partners announces termination of merger agreement with Williams
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07:07 EDTWPZEnergy Transfer Equity sees Williams deal immediately accretive to cash flow
At closing, the transaction will be immediately accretive to distributable cash flow and distributions per unit for ETE and is expected to be credit positive to ETE's credit ratings; ETE's distribution growth rate is expected to remain at its current level; As a result of diligence, the size of both the expected cost savings and the anticipated commercial synergies exceeds ETE's previous expectations and will help ensure that the duration of ETE's distribution growth rate will be longer as a result of the transaction. There is no expected impact to WPZ's credit ratings as a result of the ETE/Williams combination; WPZ unitholders will have greater distributable cash flow from material cost savings and synergies of up to $400 million per annum with WPZ joining the Energy Transfer shared service model; the combination will create new commercial opportunities for WPZ, including the potential to acquire assets from the overall Energy Transfer group, that will improve WPZ's business outlook, cash flow growth and overall financial profile; WPZ unitholders will benefit from having a general partner, ETE, that, based on the unique intrinsic financial and strategic optionality in the Energy Transfer family, will be in a position to help WPZ fully realize its long-term growth potential; and WPZ will receive a $428 million break-up fee for the termination of its merger agreement with WMB payable to all outstanding limited partnership units of WPZ including WMB's approximate 60 percent ownership.
07:05 EDTWPZWilliams Partners, Williams withdraw financial guidance
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07:04 EDTWPZEnergy Transfer Equity to combine with Williams in $37.7B transaction
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07:02 EDTWPZEntergy Transfer Equity to combine with Williams
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