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Stock Market & Financial Investment News

News Breaks
December 11, 2012
06:19 EDTSESpectra sees acquisition of pipeline system immediately accreditive to earnings
Spectra Energy expects the acquisition of Express-Platte Pipeline System will be immediately accretive to earnings, with expected FY13 EBITDA of approximately $130M and full-year annual EPS accretion in the 3c-5c per share range.
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January 22, 2015
16:19 EDTSESpectra Energy to acquire Brazoria Interconnector gas pipeline
Spectra Energy (SE) and Spectra Energy Partners (SEP) announced that, through their affiliate, Spectra Energy Transmission II, have entered into a purchase and sale agreement to acquire from ConocoPhillips Company (COP) 100% of the equity interests in Brazoria Interconnector Gas Pipeline, which owns the BIG Pipeline. The newly acquired BIG Pipeline will be a component of the Stratton Ridge Project, an expansion project of the Texas Eastern Transmission pipeline system to deliver up to 400,000 dekatherms per day of natural gas to Stratton Ridge, Texas. The Stratton Ridge Project, including the BIG Pipeline acquisition, has an expected capital expenditure of approximately $200M and is anticipated to be in service Q1 FY19. The acquisition is expected to close in Q2 FY16, subject to certain conditions precedent being met.

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