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November 28, 2012
Global Energy Conference is being held in Houston on November 28-30.
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September 28, 2015
08:52 EDTWMBOn The Fly: Pre-market Movers
IN FOCUS: Apple (AAPL) after announcing it set a record by selling more than 13M new iPhone 6s and iPhone 6s Plus models in the first three days after launch of the devices. HIGHER: Media General (MEG), up 22% after Nexstar (NXST) announced a proposal to acquire the company for cash Nexstar shares currently valued at $14.50 per Media General share... Alcoa (AA), up 5.4% after announcing that its board has unanimously approved a plan to separate into two independent, publicly-traded companies - an Upstream company that will operate under the Alcoa name and a new Value-Add company whose name will be announced at a later date... Atmel (ATML), up 7% after Reuters reported that Cypress Semiconductor (CY) is working on a competing bid to Dialog Semiconductor's (DLGNF) takeover offer... J.C. Penney (JCP), up 3% after Sterne Agee CRT upgraded the stock to Buy from Neutral after meeting with the company's new CEO. DOWN AFTER EARNINGS: Cal-Maine Foods (CALM), down 8%. ALSO LOWER: Verastem (VSTM), down 50% after stopping enrollment in the Phase 2 study of VS-6063 for patients with mesothelioma for futility after a Data Safety Monitoring Board review of a pre-planned interim analysis... Fiat Chrysler (FCAU), down 3.7% after the Detroit Free Press said some local UAW workers rejected a four-year tentative pact between the United Auto Workers and the company... Williams (WMB), down 3% after Energy Transfer Equity (ETE) announced a business combination transaction valued at approximately $37.7B, including the assumption of debt and other liabilities. Under the deal, an affiliate of ETE, will acquire Williams at an implied current price of $43.50 per Williams share.
08:17 EDTBASBasic Energy signs five-year renewal with MiX Telematics
MiX Telematics (MIXT) announced that Basic Energy Services (BAS) has renewed its contract for fleet management and driver behavior solutions for the next five years. Basic Energy Services uses solutions from MiX Telematics to help improve driver safety and monitor performance of more than 4,000 vehicles. One of the key factors in the renewal decision was MiX's Service for Life commitment. MiX offers a comprehensive range of services, which go beyond sales, implementation and troubleshooting. It starts when a customer signs the contract and continues, holistically, until the day the contract ends.
08:10 EDTBASBasic Energy signs five-year renewal with MiX Telematics
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07:40 EDTWMBEnergy Transfer Equity to host conference call
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07:13 EDTWMBWilliams volatility elevated into combining with Energy Transfer Equity
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07:11 EDTWMBEnergy Transfer Equity volatility elevated into combining with Williams
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07:10 EDTWMBWilliams Partners announces termination of merger agreement with Williams
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07:07 EDTWMBEnergy 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 EDTWMBWilliams Partners, Williams withdraw financial guidance
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07:04 EDTWMBEnergy Transfer Equity to combine with Williams in $37.7B transaction
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07:02 EDTWMBEntergy Transfer Equity to combine with Williams
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06:49 EDTWGWillbros Group awarded additional projects for Canada and oil & gas segments
Willbros Group announced that its Canada segment has won a project to add API tank storage capacity in Alberta. The EPC project includes engineering, procurement and construction of approximately 150,000 barrels of additional storage at an existing facility. The scope of work includes civil site preparation and tank supply and erection. Willbros Oil & Gas has won a similar assignment with the same client in the Northern Plains for approximately 900,000 barrels of additional storage. Site work has begun and project completion is scheduled for the third quarter of 2016. Willbros announced that its Oil & Gas segment has also won a cross-country pipeline project to construct approximately 60 miles of 10-inch pipeline. The project, to expand capacity on an existing system, begins in Panola County, Texas and ties in to the existing system in Angelina County, Texas. The project is underway now and completion is scheduled for the first quarter of 2016. The Oil & Gas segment has also won a project in King County, Texas to construct a steel pipeline to transport crude oil to the existing Benjamin Station. The scope of this project is for construction of the launcher at the Hunt initiation site and the carrier pipeline up to the receiver at Benjamin Station, an 80,000 barrel breakout tank and modifications to accommodate increased flow. The project is scheduled to be completed in December 2015.
September 27, 2015
20:05 EDTWMBEnergy Transfer Equity close to acquiring Williams for $34B, FT says
Energy Transfer Equity (ETE) is nearing a deal to acquire Williams (WMB) and could make an announcement as soon as Monday, reports the Financial Times, citing people familiar with the matter. Major elements of the transaction have been "essentially" nailed down after a revised cash-and-stock offer from Energy Transfer, sources told the publication. Although it is unclear how much cash will be included in the deal, one source said the transaction would value Williams at $34B. Reference Link
September 24, 2015
12:35 EDTCLRBert Mackie no longer holds stake in Continental Resources
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06:52 EDTBASFracking companies see bankruptcies, closures, WSJ reports
A series of bankruptcies and closures has swept across the oil industry, with dozens of mostly small, privately owned fracking companies at risk, the Wall Street Journal reports. Most companies that help oil and gas explorers drill and frack wells are small, privately owned and fairly young, the report says. The fall in oil prices has played a large role in the failures of many of these companies, the report says. Companies in the space include Key Energy Services (KEG), Basic Energy Services (BAS), Schlumberger (SLB), and Halliburton (HAL). Reference Link
September 23, 2015
17:47 EDTRNETRigNet wins new offshore drilling customer
RigNet announced that it has been awarded a contract to provide remote communications solutions to a premium offshore driller across its entire global fleet of existing and newbuild rigs. RigNet will provide comprehensive managed remote communications solutions across the customer's fleet of jackups, drillships and semisubmersibles operating in the U.S. Gulf of Mexico, Asia Pacific, Europe and Africa regions. The contract includes provision and maintenance of both stabilized and fixed antennas to deliver communications across multiple satellite bands for greater flexibility.
16:59 EDTWMBWilliams considers sale to Energy Transfer after revised offer, Reuters says
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05:10 EDTWMBStocks with implied volatility movement; GLW WMB
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September 22, 2015
15:50 EDTCOPConocoPhillips nears deal to sell certain Canadian assets, Bloomberg says
ConocoPhillips (COP) is closing in on a deal to sell several Western Canadian assets to different acquirers including Canadian Natural Resources (CNQ), says Bloomberg, citing sources. A deal for the assets may be reached as early as this week, added Bloomberg. Reference Link
14:19 EDTCOPConocoPhillips nearing sale of some Canada assets, Bloomberg reports
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